The cargo and transport industry is a unique and complex sector, and the risks associated with having goods in transit, whether it be by road, air, rail, or road, requires specialist knowledge and cover.
Having the right insurance policy in place can help to target these risks and offer essential protection for businesses engaged in importing, exporting, distribution, or domestic transportation.
What is Cargo & Transit Insurance?
Cargo and Transit Insurance (also referred to as Marine Cargo Insurance and Shipping Insurance) targets these specific marine cargo risks by providing cover for incidents such as delayed shipment costs, non-delivery by a carrier or loss of your goods while in transit.
Some of the risks the cargo and transportation industry faces include:
- Financial loss associated with the loss of goods
- The risks associated with General Average (a Marine Principal that dictates that loss or damage to a ship or its cargo is shared among the Shipowners and Cargo owners)
- Acts of Piracy, theft and pilferage
- Malicious damage by Masters, officers or Crew of a vessel
- The risks associated with Transhipment risks (the moving of goods from one conveyance to another).
We can assist with the placement of a Cargo & Transit policy including:
- Specific extensions for insolvency or otherwise non-delivery by the carrier/transporter
- Coverage for Transhipment and Delayed shipment costs
- A market leading policy wording, including: extended storage conditions, over carriage conditions, full coverage for General Average conditions
- Extensions available for General property and Tools of Trade
- Delay in Start-up as a result of non-delivery, Consequential Losses and Liquidated Damages are also options which can be considered for inclusion
How Coverforce can help
At Coverforce, our expert team of insurance brokers will take the time to assess your individual requirements and exposures and deliver a comprehensive insurance solution that is tailored to your specific needs and budget.
To help get you the right cover, please select the type of quote you are looking for to proceed:
Residential or commercial removals (within Australia or international)
You can get an instant online quote and arrange cover for your residential or commercial moves, whether within Australia or internationally, through CARTS. Click the link below to be redirected:
Arrange Cover OnlineAnnual Cargo Insurance (Annual Marine Transit Cover)
Popular with businesses that ship goods regularly, these policies provide streamlined coverage without needing to arrange insurance for each individual shipment.
Our experienced team of insurance brokers can help you arrange a smart, cost-effective policy simply complete the quote request below and we will be in touch within one business day.
