What is marine transit insurance?
If your business takes you across the seas, you can be exposed to risks from mother nature, misadventure and even piracy. Such risks can prevent your commercial vessel, cargo or truck from reaching its destination, or cause costly damage during the voyage.
Marine transit insurance refers to a range of insurance products which help protect your business from loss or damage to vessels and cargo. It can cover the door to door delivery of goods worldwide, by sea, road, rail and air –including their storage on the way.
Who should consider it?
Marine transit insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.
Freight forwarders
- Importers and exporters
- Marina owners
- Mining companies
Primary producers
- Removalists
- Tourism operators
- Wholesalers
In FY2017, the value of Australian exports of goods and services was A$373.2 billion. That represented an increase of A$53.7 billion on the previous year’s outcome.
Did you know?
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