Marine transit insurance for goods on the move
Whether your goods travel across town by truck or across the world by container ship, they're exposed to damage, theft and loss along the way. Carriers' liability is usually limited, so relying on them can leave you well short of your goods' value. Marine transit insurance protects your stock while it's moving. We arrange annual and single-transit cover for importers, exporters, distributors and businesses that carry their own goods.
Who needs marine transit insurance?
- Importers and exporters
- Wholesalers, distributors and online retailers shipping stock
- Businesses carrying goods in their own vehicles
- Manufacturers moving raw materials and finished products
- Businesses with goods stored temporarily during transit
What marine transit insurance can cover
Every policy is different. Depending on the insurer and options you choose, cover can include:
- Loss or damage to goods in transit by road, rail, sea or air
- Annual policies covering all shipments, or single-transit cover
- Domestic and international transits
- Goods in your own vehicles or with third-party carriers
- General average and salvage contributions for sea freight
- Cover tailored to your goods, packaging and routes
What to check before you buy
Who carries the risk in transit depends on your sale or purchase terms (Incoterms), so it's important to know when responsibility passes to you. We'll also look at packaging requirements, temperature-sensitive or high-theft goods, and the per-conveyance limit, which needs to cover your most valuable single shipment.
Why arrange marine transit insurance through a broker?
Policies that look similar on price can differ a great deal in what they actually pay for. As your broker, we act on your behalf. We’ll ask the right questions, compare options, explain the fine print in plain language and be there to support you if you need to make a claim, wherever you are in Australia.
Marine Transit Insurance: common questions
Isn't my freight covered by the transport company?
Carriers' liability is often limited by law or their terms of carriage, and may only pay a fraction of your goods' value. Transit insurance covers you for the agreed value.
What is general average?
For sea freight, if a ship's master sacrifices cargo or incurs costs to save the voyage, all cargo owners may have to contribute to the loss. Marine cargo insurance generally covers your contribution.
Do I need an annual policy or single-transit cover?
If you move goods regularly, an annual policy is usually more efficient. For an occasional high-value shipment, single-transit cover may suit better.
What are Incoterms and why do they matter?
Incoterms are international trade terms that set out when risk passes from seller to buyer, such as EXW, FOB and CIF. They determine who is responsible for goods at each stage of the journey and whether you need to arrange insurance. Under CIF, for example, the seller must arrange cover. We’ll check your terms so there are no gaps.
Does transit insurance cover goods damaged by poor packaging?
Generally not. Standard cargo policies exclude loss or damage caused by insufficient or unsuitable packing. Packaging your goods appropriately for the journey and the mode of transport is one of the best ways to protect yourself, and insurers may set packing requirements for fragile or high-value items.
How to get a marine transit insurance quote
Getting a quote is simple, and there is no obligation. Call Carly on 0497 100 469 or send an email with your business name and ABN, a short description of what you do, your approximate turnover and number of staff, a copy of your current policy schedule if you have one, and details of any claims in the last five years.
If your contracts or lease set specific insurance requirements, send those too.
We will ask a few questions about your operations, approach suitable insurers on your behalf and come back with options explained in plain language, including what is and isn’t covered. Once you choose, we arrange your cover and send your documents, then review it with you at every renewal so your insurance keeps pace with your business.
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