There are several types of Marine Insurance out there, but they’re all designed to protect cargo (whether yours or someone else’s) you either transport yourself or contract out, while in transit in Australia or overseas. This could be via any sort of conveyance; ship, road, rail or mail.

Some typical types of businesses that need a Marine Cargo or Inland Transit policy include (but are not limited to);

• Road transport operators

• Freight Forwarders

• Removalists

• Couriers and Delivery companies

• Mining, Earthmoving and Construction companies

• Wholesalers

• Primary Producers

What is Marine Cargo Insurance?

A Cargo policy is designed to cover imported and exported goods transported (whether yours or others) for physical loss or damage, when conveyed via any form of transport (sea, air, land) through international and national boundaries.

What is Inland Transit Insurance?

This is a form of Marine Insurance which specifically covers your goods or personal belongings being transported in Australia only, and not any exporting or importing activity. This type of cover is seen frequently in industries where you might be moving large items of your own machinery from site to site, or for primary producers who are transporting their own grain and hay or livestock from their farm to a sale-yard. It will cover loss or damage to your goods as a result of accidental damage or insured perils (and depending on they type of cargo, you may not have the option of accidental damage).

What about transporting other’s goods inland?

This is a carriers protection policy, which will cover you for carrying other’s goods inland in Australia. Generally seen with road transport operators, this will cover damage or loss to the goods in their custody for damage as a result of overturning or collision etc, and depending on the type of goods being conveyed, there are covers like loading and unloading and cover for mechanical breakdown (for refrigerated goods) that can be added where needed.

Marine Cargo and Transit insurance doesn’t have to be complicated, however it pays to work with an experienced broker who can navigate the various insurers and covers that are out there. Getting to know your business thoroughly means getting the right cover for your exposures.