Marine Insurance

Cargo Insurance covers goods in transit... while they move... If you have not specifically asked for cargo insurance then you risk losing your goods and your money.

For a better understanding of marine insurance please contact our Insurance Partner, Wayne Parry Insurance toll free on:
1800 656 836 or visit www.freightinsurance.com.au

Why should I buy Cargo Insurance?
The simple answer is: "You should buy Cargo Insurance for peace of mind." Cargo Insurance repays you for actual losses or the "Stated/Declared Value" of the goods, whichever is less, under the Terms & Conditions of the insurance you buy... just be sure you have insured the goods for their full value.

Without Cargo Insurance you will only be paid very little for damage
If you move goods by truck or ocean, without cargo insurance you will be paid only $0.25 per kg for any damaged goods, or paid a total of $500.00 for all goods in an ocean shipment.

By law, that is all truckers, railroads or ocean carriers are required to pay you.

Air shipments will be paid at either $20.00 per kilogram for losses or under a new scheme known as the Montreal Protocol, as much as $23.00 per kilo.

Even if your goods arrive safely, you could still be forced to pay for someone else's loss."GENERAL AVERAGE"
Under General Average, those whose cargo survives a voyage are charged to repay the loss of another shipper whose cargo may have been jettisoned or lost for the protection of the vessel and the load remaining. Any shipper whose cargo arrives intact when others' was lost may face a General Average charge.

• Example: You could ship $5000 worth of waste paper yet be faced with a $150,000 General Average claim for cargo lost by others. ICC Clauses C minimum insurance covers this.

What does Cargo Insurance cover?
The simple and frustrating answer is: "It Depends." There is an old adage in motor racing, "Money buys speed... how fast do you want to go?" For Insurance, "Money buys protection. How safe do you want/need to be?"

To clarify any questions you may have on your current level of cover we recommend you speak with your insurance Broker, or contact Wayne Parry for further advice.