What is Marine Transit insurance?
Marine Cargo Insurance provides cover for loss or damage to goods whilst in transit. There are many different forms of cargo insurance for all types of transportation including goods sent by land, sea, air or rail.
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Do I need Goods in 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 commercial vessel, cargo or truck from reaching its destination, or cause costly damage during the voyage. Marine transit insurance refers to a range of insurance products which help protect your business from loss or damage to vessels and cargo. It can cover the door to door delivery of goods worldwide, by sea, road, rail and air – including their storage on the way.
Who should consider it?
Marine transit insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.
What does this Insurance cover?
There are different types of marine-related insurance policies – the type you choose will vary based on your specific needs. Depending on the type of policy you choose, marine insurance policies can cover:
- Accidental damage
- Insured events
- Dropping during loading and unloading
- Fire, explosion, lightning
- Impact of goods with external objects other than the conveying vehicle or road
- Malicious damage
What's not covered
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Consequential loss/loss of market
Call us today to assess Goods in Transit Insurance options
If you choose us as your insurance brokers, we'll put our years of experience, in-depth knowledge of the industry, and helpful service to work for you to make sure your home, investment property, or portfolio is well protected in case something unexpected happens. No matter what criteria you give, we will research the market to find the homeowner's insurance policy and personal property coverage that fits your needs.