In simple terms, Marine Transit insurance is protection for your cargo whilst in journey. If you transport goods by ship or other vessels that travel on water you may be exposed to risks that can damage your freight and cause substantial financial loss.
The risks inherent with cargo transportation typically include theft of the vessel and/or its contents, malicious damage, piracy, goods overboard, collision, and sinking.
Marine transit insurance can also cover overseas and local sendings by air, road, rail, registered post and your own vehicles.
With Austbrokers SPT’s extensive experience in this field, we can assist with all marine transit enquiries and placements, be they for single shipments or on an annual basis. Marine insurance should reflect the basis of how you buy or sell the commodity you are looking to insure (FOB/CIF or other) and can include Sellers Interests in case the buyer does not place insurance and a loss is suffered.
Contact us today for advice and an obligation free quotation.