Marine Cargo Insurance

Protect your goods in transit with tailored coverage

Call us today on
01905 930 760
Enquire here

As a broker, we have access to a wide range of cargo insurers, each with specific appetites for certain risks. This allows us to source the most suitable coverage for your unique needs, ensuring your cargo is protected no matter the circumstances.

What is marine cargo insurance?

Marine cargo insurance covers loss, damage, or theft of goods while in transit by sea, air, road, or a combination of all. It can also be extended to include coverage for goods stored during transit. Protection is provided against all risks of loss of or damage to the cargo insured with certain exclusions that exist within the Institute Cargo Clauses.

An open shipping container filled with stacked wooden crates, with one crate placed outside on the ground.

Tailored policies for every business

• Facultative Policies: One-time shipments.
• Annual Policies: For businesses sending multiple shipments per year with pre-agreed limits.
• Open Policies: Cover specific shipments within a pre-agreed specification on a case-by-case basis, usually billed quarterly.

Depending on your business circumstances, we can provide the right protection. Annual policies are ideal for importers, exporters, manufacturers, wholesalers, and distributors, while freight forwarders and logistics providers may prefer open policies.

Illustration of three stacked orange shipping containers.

Should you consider buying marine cargo insurance?

If you are responsible for goods being sent or received, consider the impact of potential damage, loss, or theft. Large shipments can significantly affect your business if not covered. Additionally, the ‘General Average Clause’ in Maritime Law requires ship and cargo owners to share rescue costs proportionally, which can include discarding containers to protect remaining cargo. Marine cargo insurance covers these scenarios.

Real-life marine cargo claims

Examples of real cargo claims handled by our team and their outcomes.

Pilferage at storage: £10,000 claim settlement

A freight forwarder was tasked with arranging the shipping and storage of a number of items for the development of a private residence.  The goods were sourced from all over the world and stored in a single location before being shipped onwards to the end destination, which upon arrival it was found that a number of items were missing.  It was suspected that pilferage had occurred at the storage location and insurers settled the claim for £10,000.  The Institute Cargo Clauses applicable to this claim covered ‘all risks of loss of or damage to the subject matter’, which is why the claim was settled.

An open shipping container filled with stacked cardboard boxes, with more boxes placed outside on the ground.
Illustration of a mining facility with conveyor belts, storage containers, and a building on rocky terrain.

Transit damage: £5,000 settlement

A pallet of goods was damaged in transit between the manufacturer and the delivery address.  The damage had occurred when being dropped from height when it was being moved by a fork-lift truck.  Insurers settled at £5,000 and sought recourse from the transport company who had moved the pallet.

Damage due to insufficient packing: No coverage under Institute Cargo Clauses

A container of goods was shipped to the UK from the EU.  Upon arrival, it was found that the goods had become damaged in transit.  Investigations found that the goods had been insufficiently packed, leading to them becoming scratched.  An Exclusion within the Institute Cargo Clauses notes that no cover shall be provided for ‘loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured to withstand the ordinary incidents of the insured transits’.  It is important that sufficient packaging materials are used when loading items, either into containers, pallets or boxes.

Three stacked cardboard boxes with white labels and yellow tape, shown in an isometric view.

Assess your requirements

If you think you have an exposure in your business, reach out to us. We can assess your requirements and ensure you are correctly protected.

Call our team of experts on 01905 930 760 today.

Why choose us?

Expert navigation of the marine trade market

Well-established relationships with specialist insurers means we can swiftly source the right protection for your business.

A longstanding experienced crew

After nearly 20 years in marine trade insurance, we understand the range and nuance of the industry and offer ongoing guidance, efficiency and personal support.

On board with every business

We have the flexibility and scope to offer the highest standards of cover for marine businesses and associations of all shapes and sizes.

Call us today on
01905 930 760
Enquire here