The risks involved with transporting goods demand specialised attention and coverage.
Cargo and Transit Insurance, also known as Marine Cargo Insurance or Shipping Insurance, addresses these specific risks by offering protection against issues like delayed shipment costs, non-delivery by carriers, and loss of goods while in transit.
Do I need Cargo and Transit Insurance?
There are a number of complex and specific risks associated with the Cargo and Shipping Industry. These can include:
- 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).
What does this Insurance cover?
Clearlake Insurance 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
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
As a reliable insurance partner, we are committed to safeguarding the financial future of your business. Our experienced insurance brokers and dedicated claims team will provide tailored risk advice and effective, cost-efficient insurance solutions for your Cargo and Transit needs.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
