Cargo and Transit Insurance

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Cargo and Transit Insurance can also be referred to as Marine Cargo Insurance and Shipping Insurance.

The concept of Cargo insurance is the oldest form of Insurance in recorded history dating back to the mid 1600’s when Chinese merchant traders would share risks of a voyage by apportioning their cargo across other traders vessels.

The risks associated with moving your goods from one location to another requires specialist attention and coverage.

What are the key risks?

  • 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).

Policy features and Benefits

Coverforce can assist with the placement of top quality Cargo and Transit insurance 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.

Important Tips

  • Coverforce also have a bespoke Stock Throughput policy, an ideal form of cover for manufacturing businesses, retailing businesses and companies with multiple locations.

How Coverforce can help

Our experienced insurance brokers can assist you with personalised risk advice and the placement of your Cargo and Transit Insurance policy.

Contact us now or simply complete the contact form below and we will get back to you within one business day.

Request a Cargo and Transit Insurance quote

Simply fill out the form below and we will get back to you within 1 business day. Alternatively, should you prefer to speak to someone right now, contact us during business hours to speak with an experienced insurance broker.

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Are you looking for expert risk advice and great value cover for your business? Call us to speak to a Coverforce insurance broker today.

Our Insurance Brokers service clients throughout Australia, with key offices in Sydney, Melbourne, Brisbane, Adelaide and Perth.

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Our brokers can access more than 100 insurers across the globe to find your business quality cover at the right price.

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