Marine Cargo Insurance
Single and Annual Freight and Marine Cargo Insurance Arranged
Marine Cargo Insurance – Single consignment to annual insurance for anyone transporting goods nationally or internationally. All-Risk insurance with very few exclusions. Our expert brokers will advise you on every aspect of covering your goods in transit correctly from household belongings to manufactured products.
Arranging marine cargo insurance for a single consignment is ideal for private individuals who need to cover their household goods when emigrating or immigrating, importing or exporting a vehicle from or to the UK.
The cover is also ideal for businesses needing to import or export their goods that don't ship cargo on a regular basis.
Those based in the UK, you may also cover goods transported from anywhere in the world to any destination using our marine insurance policy.
Annual Marine Insurance for Goods in Transit
Ideal for businesses based in the UK that move goods anywhere in the world on a regular basis. Cover provided is All Risk but please check as there are some exclusions, your broker will make all details of your policy clear.
With many years of experience in arranging marine insurance cover for national and international cargo and freight transportation we have built up good relations with both Lloyd's and other marine insurance companies, this enables us to not only find the correct cover you need quickly and smoothly it also enables us to find the most economical premiums.
Benefits of the marine insurance cover we arrange
- The Cover includes the risks of loading and unloading.
- An unlimited number of transits per annum is included in respect of transits from Assured premises in the UK and/or EU countries to exhibitions, fairs, functions, rallies, venues of formal entertainment and venues specially approved by local councils, including whilst there and return.
- If required, goods can be insured at the Owner’s premises and/or at exhibitions up to £250,000 without application of an Alarm Warranty.
- The Owner may increase (or decrease) the total value of their goods up to the sum of £5,000 without additional premium provided that renewal is effected through Primo plc and provided the renewal schedule reflects all such changes made during the policy period.
- Whilst located at Owner’s premises goods are covered against ‘All Risks’.
Significant and unusual exclusions or limitations
- Loss damage or expenses caused by inherent vice or nature of the subject matter insured.
- Insufficiency or unsuitability of packing or preparation of the subject-matter.
- In the event of a claim for loss or damage to any part or parts, the amount recoverable shall not exceed such proportion of the cost of replacement of the part or parts lost or damaged as the insured value bears to the value of a new machine, plus additional charges for forwarding and refining the new part or parts.
- No claim is to attach to the Cover for damage to the goods insured which may be sustained whilst the goods are under any process, and directly resulting there from
- An Alarm Warranty applies when goods are insured at the Owner’s premises and/or at exhibitions valued over £250,000.
- Excluding all transits except in respect of transits from Assured premises in the United Kingdom and/or EU countries to exhibitions, fairs, functions, rallies, venues of formal entertainment and venues
For a quote or advice please call 01702 225 440 or complete our online proposal form
Freight Forwarders Liability Insurance
Freight and goods Insurance are available for businesses based in the United Kingdom.
If your business relies on any form of physical products at some point in time you will require some form of cargo insurance. Regardless of what you may have been told, it is always worth checking with your broker to make sure you are covered correctly, as the old saying goes it is better to be safe than sorry. Good risk management though is always better than having to make a claim. As a business, I'm sure you'd agree that having your goods arrive safely and on time is preferable, speak to your broker and they may be able to provide information on better risk management.
You have already instructed your broker to arrange a commercial combined policy for you, that policy covers your premises for the storage of goods and also it covers your distribution, do you need anything else? Well, yes you do. Many businesses just like yours hand over the protection of those goods to a third party such as a freight forwarder.
You’re waiting for the inevitable “but” and there is one, it includes some added risks for you when handling the insurance of goods this way and there are some benefits for you if you take full control over the insurance yourself. As is the case for anyone purchasing insurance it is always worth speaking to a broker that understands and specialises in your industry, someone that can simplify the language in such a way that allows you the benefit of making an informed choice.
Marine cargo insurance explained?
Also called freight insurance or goods in transit insurance covers physical loss or damage to goods during transit whether that is by land, sea or air and also nationally or internationally. Marine cargo insurance will normally cover all risks although there will usually be some set exclusions.
Typical cargo freight exclusions are:
- Geographical Exclusions such as higher than normal risks of war or terrorism, countries where there may be trade sanctions in place, inland journey’s where the risk of theft is unacceptable for example some African landlocked countries. Some countries require buyers to insure via local markets or state insurance corporations.
- Goods Exclusions such as items banned for international trade, high-risk items such as certain chemicals or arms and weaponry, sometimes there may be exclusions concerning foodstuffs or biological freight due to restrictions in particular countries.
The following list of goods are excluded unless in orange those you will need to make your broker aware of
- Mobile Phones
- Bullion, precious metals, diamonds, precious stones and the like
- Cash, bank notes, treasury notes, stamps, bonds, securities and the like
- Jewellery, watches and the like
- Tobacco, cigarettes and cigars
- Microchips and SIMMS/DIMMS and similar
- Drugs pharmaceuticals and medicines
- Fresh meat, fish, vegetables and/or perishable foods of whatsoever nature
Your broker will inform you of the specific exclusions that apply to your cargo insurance policy.
There are a few restrictions when it comes to the type of goods being transported. Very few exclusions are inherent in a typical marine transit insurance for household goods. As an example, the goods may be worth £100,000 and the owner has them covered for that. However, the limit of liability may be for 2 million so if the goods were lost and this caused the owner extra expense outside the value of the goods the freight forwarder would be covered.
Freight handlers insurance needs
Is there a difference between cargo insurance and freight insurance? No, they are just different terms used to describe the policy that will cover your goods. There are, however, different types of cargo insurance which your broker will correctly inform you of and should you have any specific requirements or questions do not hesitate to ask.
Understanding the difference between insurance and liability insurance is key here, the owner of the goods will have them insured for a value, however, the forwarder or carrier will have liability insurance for their level of liability.
Talk to a Professional Transit Insurance Broker
Our specialist marine cargo insurance brokers is a small dedicated team with a wealth of experience in handling all types of cargo insurance requirements. We arrange insurance quotes for many freight forwarders, carriers and principles worldwide as long as they have a base of operations here in the UK.
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FML Insurance as part of Primo plc is authorised and regulated by the financial conduct authority.
In the event of having to report a claim to us please notify us on 01702 225 440 during normal business hours or email us as soon as possible.
To enable any claim to be dealt with promptly please provide the following:
- Insurance policy or Certificate of Insurance
- Statement of claim – explanation of loss, extent of damage etc
- Commercial Invoice
- Packing List
- Bill of Lading (goods by sea) / Airway Bill (goods by air) / Consignment Note (goods by road
- Delivery Receipts
- Notice to Carriers – Depending on how the cargo was transported a general guideline is as follows
Shipping Line: Within 3 days from the time of delivery.
Airline: Within 14 days from the time of delivery
Road: Within 7 days from the time of delivery.
Please note that this is not a full list. Additional documentation could be requested depending on the specific circumstance of the claim.