Experienced Insurance Brokers • Business • Personal • Corporate • Call today +61 2 4910 3900

Follow Us
 

Marine Cargo & Transit

Home > Insurances We Provide > Marine Cargo & Transit

Perhaps the oldest form of insurance… Marine Cargo & Transit Insurance

Marine cargo insurance may not be something that all businesses need but if you are sending or receiving stock and goods it is imperative that the goods be insured. The loss of goods being shipped can be frustrating at best.

What is Marine Cargo & Transit Insurance?

Marine cargo insurance is perhaps the oldest form of insurance with the first policies being issued more than 400 years ago from Lloyds Coffee House in London; now known as the most famous of all insurance companies Lloyds of London.

 

As the first policies were issued on marine cargo risks, the laws which affect transit between territories, jurisdictions and over the seas were based on marine terms. Even though cargo is now shipped around the world by a variety of methods including by Air, Sea, Road and Rail the term Marine Cargo is still the main term used in cargo insurance wordings thus, most of the following information will be cast in the term Marine Cargo Insurance.

How does it work?

Marine cargo insurance may not be something that all businesses need but if you are sending or receiving stock and goods it is imperative that the goods be insured. The loss of goods being shipped can be frustrating at best. Marine cargo insurance covers physical damage to, or loss of, your goods whilst in transit by most recognised methods of transit such as by Sea, Air or Land (road and rail, or combinations of any).

 

What types of Marine Cargo Insurance are available?

Single Cargo Shipments

 

This is a common form of cargo insurance, mainly taken out by individuals and small businesses for one-off shipments of cargo and freight. This is where the cargo as a one-off shipment is priced and covered as one shipment from a particular destination to another – the cover usually commences at the point of departure and ceases upon arrival at the cargo’s destination. This type of cover is also sometimes referred to as a ‘Voyage Policy’ as the insurance covers only that specific shipment/voyage.

 

Open or Annual Cover

 

This is the most common form of cargo insurance, most often used by regular shippers of goods such as importers and exporters including freight forwarding agents, where a policy is issued to cover a number of consignments being shipped to and from various ports and destinations throughout the year. The policy can be either for a specific value that requires renewal once the insured amount is exhausted, or an open policy that will be issued for an agreed period.

What our clients say

  • “Pleasant & professional”

    Just a quick note to say how much I appreciated the attention to my insurance renewal by your employee at Raymond Terrace office, Kai Cameron. It was only a matter of hours before he got back to me with a better price for my house and contents insurance which I was pleased to accept. I just wanted to tell you that I found Kai to be a very pleasant and professional, a credit to your office.

    Andrea Waddell

  • “Highly recommended”

    We have used the services of Ian Jones Insurance Brokers for over 14 years now and have found the overall service and professionalism to be of a 1st class standard. The most important aspect we found was the speed and efficiency of claims handling and management. Highly recommended

    Prof. Tim Roberts

  • “Cover your Assets”

    You don't usually give a great deal of thought about insurances that you have until the worst happens, then it's all you think about. The advice we get from Ian Jones Insurance Brokers makes it obvious that they have done the thinking for us. They have enabled us to recover from losses over the years that bring comfort in knowing that they have done what their catch phrase states - Cover your Assets

    Sam Miranda, Sam Miranda of King Valley Pty Ltd

  • “Professional service and quality advice”

    Over the past 17 years Ian Jones Insurance Brokers has provided us with a variety of business, motor vehicle and home insurance policies. Ian and his staff have always provided professional service and quality advice as to the most suitable policy and options relating to our needs. On the occasions when we have needed to make a claim, the service has been prompt with regular follow ups to ensure the process was moving smoothly. I have recommended Ian Jones Insurance Brokers to friends and business colleagues with full confidence and have always heard nothing but great responses from anyone who has utilised Ian and his staff for the provision of insurance services.

    Geoff Grimley, Business Principal, Rapport IT Solutions

  • “We saved a lot of money”

    We were delighted with the service we got from Kai at FloorInsure Insurance. Not only was everything dealt with promptly and efficiently but we saved a lot of money as well. We would recommend them to anyone and look forward to a long association with this company

    Eileen McIntosh, Chaz Floors and Blinds

  • “Easy to understand terms”

    It’s great to have someone providing insurance product information with great knowledge….even better when they can spell it out to you in easy to understand terms

    Brad Jones, Director, Admix Media.

  • “Fantastic to deal with”

    They’re fantastic to deal with. We would always recommend that other businesses give them a go because they make insurance easy

    Brett Young, Director, Miraclereach Pty Ltd

  • “An ongoing relationship”

    We have had an ongoing relationship with Ian Jones Insurance for some years now. The reason we continue to do business with the company is because we are impressed with the high service level, the speed at which the quotes are produced, the competitive pricing and the assistance that is provided. Our current account executive, Amy Thompson, embodies all of these qualities and is a joy to deal with on every occasion

    Annette and Andrew Metcalf

Talk to us for the right advice and the right cover and policy.

It is important that we understand the exact processes that a client undertakes to ship any goods. The terminology used can be confusing and quite foreign to many businesses. Part of this understanding means ensuring that the right cover is placed to allow for correct claims management and awareness of what the insured needs to cover or at least be aware of.