Marine Cargo Insurance
- protection against loss of goods being transported by sea, land and air
- cover for damage to goods being transported by sea, land and air
- the protection of goods being stored as part of their global distribution journey
- freight liability
- optional delay insurance
The term Marine Cargo Insurance can confuse. It is actually not just about protecting goods that are a ‘cargo’ at sea. This type of cover also recognises that movement from warehouse to warehouse, or from manufacturer to customer, may also require other forms of transport, whether that is land or air-based.
Marine Cargo Insurance is a property-focused insurance, protecting against the loss or damage to goods in transit. It is typically used by manufacturers, importers and exporters, to protect goods being dispatched or ordered and awaiting delivery.
A Marine Cargo insurance policy also protects the insured goods whilst they are held in a warehouse, either awaiting departure or collection or pending onward movement to another location. This is a time at which they can be particularly exposed to risk.
With so much global turmoil and sophisticated organised thefts on trade routes around the world, having the right Marine Cargo insurance is imperative. It will not ordinarily cover you for delays in shipments, but such add-ons can sometimes be negotiated.
Taking out your own insurance protection can also avoid you being reliant on a carrier or forwarders’ policy that may have been purchased in the country in which they are headquartered. Trying to make your claim in a foreign language can be almost impossible.
Our local brokers can guide you through all of this and also assist freight forwarders and hauliers who require freight liability insurance, to cover their own businesses.