Marine Transit Insurance

Insurance to protect your business from loss or damage to cargo.

What is marine transit insurance?

If your business takes you across the seas, you can be exposed to risks from mother nature, misadventure and even piracy.

Such risks can prevent your cargo from reaching its destination, or cause costly damage during the voyage.

Marine and transit insurance can help protect your business from loss or damage to cargo. It can cover the door-to-door delivery of goods worldwide, by sea, road, rail and air – including their storage on the way.

How you can be protected with marine transit insurance

There are different types of marine and transit insurance policies – the type you choose will vary based on your specific needs. Depending on the type of policy you choose, marine transit insurance policies can cover:

Accidental damage
Physical damage that occurs as a result of an unexpected and non-deliberate external action
Insured events
Only the events nominated by the insurer. These are commonly known as fire, collision and/or overturning covers, although there are normally more events offered than these
Collision
Damage caused due to the collision of the carrying vehicle, vessel, train, aeroplane. It may be a collision between two conveyances, or it might involve the conveyance hitting another object such as a bridge, wall, tree etc.
Dropping during loading and unloading
Dropping during loading or unloading if this is not an excluded event specified under a specified risks policy
Fire
While fire is a common event covered by all transit policies, cover for explosion and lightning may or may not be granted
Impact of goods with external objects other than the conveying vehicle or road
Full impact cover can be provided, including goods falling from and within the vehicle
Malicious damage
Malicious acts, vandalism and sabotage by third parties

Do I need marine transit insurance?

Marine transit insurance is important for businesses involved in shipping or receiving goods and more.

Marine and transit insurance policies can provide valuable cover on both land and sea for:

Freight forwarders:

  • Importers and exporters
  • Marina owners
  • Mining companies

Grain growers, dairy farms and meat processing plants:

  • Removalists
  • Tourism operators
  • Wholesalers

Every marine transit insurance policy is different. Our brokers can help you compare and tailor a marine transit insurance quote to ensure you are adequately covered.

Case study

Kerri runs a small business that exports organic cheese from Australia to Asia. It’s a new business, so she works very hard to provide quality products and build her client base.

Recently, a shipment of her cheese that was going to a new client was left on the dock unrefrigerated – and the cheese was spoilt. Not only did Kerri lose valuable product, but she also missed out on the repeat business of the new client.

Thankfully, Kerri had marine transit insurance, which covered her products from the time they left her business until they were in her client’s possession. While her insurance didn’t help her keep the new client, at least the insurance reimbursed Kerri for the cost of the cheese that was spoilt.

Tips or other things to know about marine transit insurance

Each policy is different, but generally you won’t be covered for:

  • Consequential loss/loss of market
  • War
  • Delay

Have a question? We can help

What does marine transit insurance cover?

A marine transit insurance policy can help protect your business from loss or damage to cargo. It can cover the door-to-door delivery of goods worldwide, by sea, road, rail and air – including their storage on the way.

Our brokers can help you compare marine transit insurance policies and tailor a marine transit insurance quote to ensure you are adequately covered.

What is transit insurance?

Cargo and transit insurance (also referred to as marine transit insurance policy) can cover you from specific marine cargo risks such as delayed shipment costs, non-delivery by a carrier or loss of your goods while in transit.

How is transit insurance calculated?

Marine and transit insurance policies are calculated based on the type of transit, where the goods are being transported from and to, as well as other factors.

Our brokers can help compare and explain the myriad of insurance options on the market for you, providing expert advice to implement your chosen plan.

Insurers we work with

Allianz insurance quotes – NewSure Insurance Brokers
NTI Insurance quotes – NewSure Insurance Brokers
Chubb insurance quotes – NewSure Insurance Brokers
Zurich insurance quotes – NewSure Insurance Brokers
Proteus insurance quotes – NewSure Insurance Brokers

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Call us on 02 4969 8100 or request a call back.

We know that navigating the world of insurance can be complex and confusing. Our brokers compare the myriad of insurance options on the market for you, providing expert advice to implement your chosen plan.

We empower thousands of Australian businesses to focus on what they do best, knowing they’re protected against any possible eventuality.