Rodger Nahas

Account Executive


Marine Shipping Insurance Melbourne

Imports and exports are an integral part of our economy. We export a wide range of goods such as iron, coal, gas and wheat. In return, we import finished goods such as motor vehicles, equipment and computers.
Marine cargo insurance is designed to cover such goods being transported by air, sea, rail, road, post or courier.


The cover provides physical loss or damage for goods being imported or exported from Australia. For goods transported throughout Australia, local marine transit insurance coverage may be sought.


There are generally two types of marine cargo coverage available for you in the market.



1. An Open or Annual Cover

This type of cover is used by people who regularly import into or export goods out of Australia during a period of marine insurance (generally 12 months).


An estimate of the total value of imports or exports is generally made by the insured to the insurer at the beginning of the policy period every renewal. The insurer will agree to cover these items taking into consideration a number of factors such as:


  1. The type of goods being transported
  2. Their destination
  3. Method of transport
  4. Packaging
  5. How the goods will be valued
  6. Average value of each shipment


At the end of the policy period each year the insurer may require a declaration being completed by the insured of the actual value of goods transported during the period of insurance. An adjustment to the premium paid may be applied by the insurer.


2. Single Journey Cover/Claim

The coverage provided is for a single journey only. This is mainly purchased by individuals or small business for a one off shipment of goods.

A single marine insurance payment is made at the commencement of the journey and no further payments or adjustments are generally made.


Inland or Local Transit

Inland transit refers to goods being transported within Australia by rail, road, air or sea. In the same way Marine cargo insurance has two types of covers, you can elect for an annual or single transit/journey cover.


Some common shipping terms used:

Bill of lading
The document that shipping companies issue on receipt of cargo for shipment and as evidence for the contract of carriage. It sets out all the details for each shipment.


CIF (Cost Insurance Freight)
A term which means that the seller has the same obligations as under CFR (cost and freight) but with the addition that the seller has to obtain marine insurance for the cargo against the buyer’s risk of loss or damage to the goods during carriage.


FOB (Free on Board)
A term meaning the seller delivers the cargo when the goods pass the ship’s rail at the named port of loading. This means that the buyer has to bear all costs and risks of loss or damage to the goods from that point. The FOB term required the seller to clear the goods for export.

Fill out this Quote Form and one of our insurance brokers will get in touch with you.

What can go wrong?

A franchise chain that specialises in cakes and biscuits was transporting by van 16 wedding display cakes to their outlets when the van was hit by a truck causing the van to tip on its side. The cakes were completely destroyed. The total replacement cost was $7200.


Cargo and marine transit insurance covers these specific risks by providing coverage for delays, lost shipments, and damage to your goods during transport.

Marine liability insurance protects clients from the vast number risks which arise in the marine business. Marine liability insurance covers a wide range of risks including theft, fires, explosions, natural disasters, and even sinkings. It also includes cover for various expenses.

Workers’ compensation is a compulsory statutory scheme which provides financial support to injured employees who suffer a workplace accident or illness.

Marine insurance typically covers both the domestic & commercial vessel and its contents. Hull insurance covers damage to the vessel itself, including hull damage, machinery breakdowns, and loss of cargo. A more restrictive form of insurance is “total loss only”, usually referred to as TLO, where an insured may be able to claim the full value of their vessel even if they suffer some damage.

Through marine insurance you can claim for losses, damages, thefts, and injuries to your vessel and its passengers, as well as any expenses you might incur due to accidents involving other vessels or their passengers.



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