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Marine Insurance

Marine Insurance

Marine Cargo Insurance covers loss or damage to any form of cargo, moved by ship, road, rail or air. Sometime, this insurance is referred to as Marine Transit insurance and lately this is being abbreviated to simply “transit” insurance.

Whether a business imports or exports goods or simply ships goods within Australia, it should have Marine Cargo insurance to cover the financial loss associated with damage or lost goods.

What are the “risks” or perils that Marine Cargo Insurance covers?

  • Loss or damage during shipment due to total or partial loss or damage only to the goods being carried
  • Loss or damage during shipment due to an accident with the conveying ship, plane, train or vehicle
  • Loss or damage to the goods during loading or unloading 
  • Loss or damage to the goods in temporary storage (where such storage is a part of the overall journey)

Many claims for damage occur during the loading and unloading process

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The above information has been generalised. Full details of the cover provided under each type of cover and their exclusions, conditions, additional benefits and definitions are available in the full business/commercial insurance policy. A policy wording is available upon request.

Rapid Brokers Pty Ltd (ABN 53 101 545 626) is an Authorised Representative (No. 402807) of Ausure Pty Ltd (ABN 94 096 971 854 AFSL 238 433). Rapid Brokers is a wholly owned subsidiary of Rapid Solutions Pty Ltd. Please read Ausure Pty Ltd's Financial Service Guide (FSG).