marine insurance

If you are importing, exporting or just sending goods internally, Marine Cargo insurance can protect your financial interest by ensuring the safety and protection of your property. All too often, the incorrect assumption is made that the carrier will reimburse the full cost of any damage or loss. Or, that a combined commercial policy will adequately cover your own goods in transit. This just isn’t the case in most instances, and for companies (irrespective of size) the loss or damage to goods can destroy a bottom line. It is therefore essential to have a clear understanding of the benefits of marine insurance. Especially as this really can prove to be one of the most important types of insurance for your business. 

So what is Marine Cargo Insurance?

Simply put, Marine Cargo Insurance provides cover for loss or damage to your goods whilst being transported by road, rail, sea or air. It’s designed for all sizes of company – large or small – that import, export and/or distribute products internally, including manufacturers, wholesalers, retailers and distributors whether you are purchasing or selling goods.

The main purpose of marine insurance is to protect you and your business in the event that your property is damaged or lost whilst in transit. As international trading continues to grow, the demand for Marine Cargo insurance grows with it. 

What Does A Marine Cargo Insurance Policy Cover?

Our cover is flexible covering a wide range of risks. Common coverage includes, but are not limited to: 

  • Maritime perils – so those associated with moving goods by sea or over other large bodies of water – sinking, stranding, collision, pirates, thieves, capture, jettison and washing overboard
  • Damage while in transit
  • Loss or damage through rail derailment
  • Loss or damage through road accident
  • Loss or damage through hijacking
  • Loss or damage through air disaster

Our team will work with you to create a tailored policy that meets your specific requirements. We’ll take into account the nature and value of goods, modes of transport and the regions for which you require cover. Different cargo types are afforded different covers and our team will discuss these with you.

Who is it for?

Essentially, marine cargo insurance is for any company that transports goods. If the cargo in question is raw materials or finished goods, marine cover can be arranged to provide protection whether transported nationally and/or globally. It is well-suited to businesses that depend on third-party logistics or distribution firms, simply because by having your own policy your interests are best protected and you remain in control in the event of a claim.

What industries does it cover?

Some of the most common industries that use marine transit insurance are:

  • Primary industries – raw materials, raw foodstuffs, chemicals etc.
  • Secondary industries – manufacturers and producers of finished goods
  • Processing industries – providing sub-contract machining and processing services
  • Retailers – either shipping to customers or moving goods between sites

How to find the best marine cargo insurance quotes?

Being one of the oldest, yet most complex and specialist areas of insurance, means choosing the right marine cargo cover is essential.  There are, however, a few simple ways to get it right:

  • Don’t just depend on cover provided by your freight forwarder or hauliers. It’s the easiest way to get cover, but it will also cost you more
  • Get advice. A broker will be able to tell you what you need and will have access to a variety of insurers so they can shop around and find you the best price
  • Arrange annual cover – if you need to arrange cover for more than two or three single shipments per annum, it’s usually more cost effective to arrange an annual policy
  • Protect your cargo – nothing can drive up premiums like a claim, so if you can show that you are taking action to secure your products – by adding trackers, extra protection to your lorries, extra packaging around your goods and by avoiding unsafe shipping routes – this can all help reduce costs of cover
  • Opt for a higher excess – if you’re willing to pay more in the event of a claim via your excess, this will minimise costs. This is particularly beneficial if you have a good low claims record


Premium ratings for marine cargo insurance are determined by the nature of the goods being transported, the maximum value of goods any one conveyance, the types of transport used and the location of where the goods are being shipped from and to. Other factors can also influence insurance premiums including the theft-attractiveness (are the goods something which would appeal to thieves?), the quality and style of the packaging, and of course previous claims history.

For further marine cargo insurance tips and advice, visit our Frequently Asked Questions section now, or if you would like a no-commitment quote to cover your imports, exports and/or domestic transits, simply complete our quote enquiry form below:

Marine Cargo & Transit Insurance Quote Request

If you’re not sure what your requirements are, we will gladly discuss with you to ensure that your financial interests are best protected. Please Call us on 01384 442 165 (Mon-Fri, 9am-5pm), or Email: We can provide same day quotes for most marine cargo risks.

If you have found this blog helpful, you may also wish to read our previous blog, Marine Cargo Insurance – protection for goods in transit by road, rail, sea or air.