Cargo & Transit Insurance

Cargo & Transit

Successfully navigate to your destination

Successfully navigate to

your destination

Remove the uncertainty

Review before your Renew

Protect your 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.

Protect your 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.

Remove the uncertainty

Review before your Renew

What is Cargo & 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.

Cargo and Transit Insurance (also referred to as Marine Transit Insurance and Shipping Insurance) helps 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.

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Who should consider it?

Cargo & Transit insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.

Cargo & Transit insurance can provide valuable cover on both land and sea for:

Freight forwarders

  • Importers and exporters
  • Marina owners
  • Mining companies

Primary producers

  • Removalists
  • Tourism operators
  • Wholesalers

Not all policies are the same.  Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer.  That’s why our our specialist broking team members get to know your business enabling them to provide considered advice delivering you the best policy for your specific needs.

Touch base with us to learn how we can help you.

HDL, the right partner for you.

  • Renowned expertise & accountability
  • Stability & consistency of approach
  • Managing complexity
  • Integrated broking and claims
  • Building trust through service
  • Delivering on promises
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Did you know?

1,597m

1,597 million tonnes of cargo is moved across Australian wharves in 2015–16

(Department of Infrastructure, Regional Development and Cities, Statistical report, Australian sea freight 2015-2016, 2018)

$218.9b

The value of Australia’s exports by sea was $218.9 billion in 2015–16.

(Department of Infrastructure, Regional Development and Cities, Statistical report, Australian sea freight 2015-2016, 2018)

99%

99% of Australian exports use sea transport.

(Department of Infrastructure, Regional Development and Cities, Maritime, 2018)

What can it 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:

Type of cover Potential benefits
Accidental damage
Physical damage that occurs as a result of an unexpected and non-deliberate external action.
Insured events
Only the events nominated by the insurer. These are commonly known as fire, collision and/or overturning covers, although there are normally more events offered than these.
Collission
Damage caused due to the collision of the carrying vehicle, vessel, train, aeroplane. It may be a collision between two conveyances or it might involve the conveyance hitting another object such as a bridge, wall, tree etc.
Dropping during loading and unloading
Dropping during loading or unloading if this is not an excluded event specified under a specified risks policy.
Fire, explosion, lightning
While fire is a common event covered by all transit policies, cover for explosion and lightning may or may not be granted.
Impact of goods with external objects other than the conveying vehicle or road
Full impact cover can be provided, including goods falling from and within the vehicle.
Malicious damage
Malicious acts, vandalism and sabotage by third parties.

Case study

Kerri runs a small business that exports organic cheeses from Australia to Asia. It’s a new business, so she works very hard to provide quality products and build her client base.

Recently, a shipment of her cheeses that were going to a new client was left on the dock unrefrigerated – and the cheeses were spoilt. Not only did Kerri lose valuable product, but she also missed out on the repeat business of the new client.

Thankfully, Kerri had marine transit insurance, which covered her products from the time they left her business until they were in her client’s possession. While her insurance didn’t help her keep the new client, at least the insurance reimbursed Kerri for the cost of the cheeses that were spoilt.

Complimentary Review

Review before you Renew

Complimentary Review

Securing optimal insurance protection is becoming more challenging.

Having a fresh set of eyes can make a dramatic difference.  HDL welcomes the opportunity to evaluate and challenge your current risk and insurance program in a confidential manner that avoids disrupting existing relationships.

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Over 150 Insurers across the globe.

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Our Global Insurance Network

Over 150 Insurers across the globe.

aig2
allianz
Berkley
CGU
Chubb logo
gt-insurance
Hollard-logo
IAL
lloyds-v3
nit
qbe
vero
zurich2