Marine cargo and carriers liability
Marine and carriers insurance quotes from licensed Australian brokers
Carriers liability covers what you owe your customer. Marine cargo covers the goods themselves. Most freight businesses eventually need both.
- Licensed Australian brokers
- Free to use
- No obligation
Marine insurance is the oldest branch of the business and it still carries its own vocabulary, which does not help anyone trying to work out what they need. In practice there are two distinct questions. Are you liable to someone else for goods in your care, or do you own goods that are travelling and could be damaged? Carriers liability answers the first. Marine cargo answers the second. Freight businesses and importers often need both. CoverMy is free to use, and licensed Australian brokers come back with options.
Carriers liability
If you transport goods belonging to other people, carriers liability responds where you are legally liable for their loss or damage. It follows your contractual position rather than the value of the goods, which is why the carriage conditions you trade under matter so much.
- Legal liability for loss of or damage to customers' goods in your care
- Cover during carriage, loading, unloading and incidental storage
- Defence costs where a claim is disputed
- Cover shaped around your conditions of carriage
- Options for subcontracted carriers you engage
- Limits set per vehicle, per event or per consignment depending on the policy
Marine cargo
Marine cargo insures the goods themselves during a voyage, whether that voyage is by sea, air, road or rail, and it usually covers the whole door to door journey rather than just the ocean leg. Importers and exporters carry it because the point at which risk passes between buyer and seller is set by the Incoterms in the contract, and that point is frequently mid journey. If you are buying on terms where risk passes at the port of loading, the goods are your problem for most of the trip.
General average, and why it surprises people
General average is a principle of maritime law under which, when a sacrifice is made to save a voyage, all cargo owners contribute proportionally to the loss. If a vessel carrying your container has an incident and general average is declared, you can be asked to contribute or to provide security before your cargo is released, even though your goods are undamaged. Marine cargo policies respond to general average contributions. Without cover you fund it yourself, and it can be a significant sum.
What underwriters look at
For carriers, the questions are about the freight you handle, the routes, the vehicles, your conditions of carriage and your claims record. For cargo, they are about the commodity, the packing, the mode of transport, the trade lanes and the annual values shipped. Certain commodities such as electronics, pharmaceuticals and temperature controlled goods attract closer attention. Having your Incoterms and carriage conditions available at quote stage makes the process considerably faster.
How it works
- 1
Tell us what you carry or ship and where
2 min form
- 2
Licensed brokers review and compete on your quote
- 3
Compare offers and choose
No obligation
Frequently asked questions
What is the difference between carriers liability and marine cargo?
Carriers liability covers your legal liability for damage to someone else's goods while you are carrying them. Marine cargo covers the goods themselves regardless of who is at fault. A carrier needs the first, an importer or exporter needs the second, and a freight forwarder handling its own consignments often needs both.
My conditions of carriage limit my liability. Do I still need cover?
Usually yes. Limitation clauses reduce exposure but do not eliminate it, and they can be challenged or displaced by the contract you have signed with a particular customer. Many large customers require carriers to hold liability cover at a stated limit as a condition of the contract.
Does marine cargo cover the whole journey?
Most policies are written on a warehouse to warehouse basis covering the full transit including inland legs, subject to the terms. There are usually time limits on storage during the journey. Check where cover starts and stops against where risk actually passes under your Incoterms.
What is general average and am I exposed to it?
It is a maritime law principle requiring all cargo owners to contribute when a sacrifice is made to save a voyage. You can be asked to contribute or post security before your undamaged cargo is released. Marine cargo policies respond to general average contributions, which is one of the main reasons importers carry them.
What does marine cover cost?
Cargo is usually rated on annual shipped values, adjusted at the end of the period, and varies with the commodity, packing and trade lanes. Carriers liability is rated on the freight carried, the vehicles and your claims record. A broker can put both to marine insurers and come back with real figures.
Does CoverMy sell the insurance?
No. CoverMy passes your request to licensed Australian brokers who contact you directly. All advice, quotes and policies come from the broker you deal with. There is no cost and no obligation.
Get marine and carriers insurance quotes
Tell us what you carry or ship and licensed brokers will be in touch. Or call 1800 677 761.
Other cover you might need
This page is general information only. It does not take your situation into account and it is not a recommendation to buy any policy. Cover, limits and exclusions vary between insurers, so read the Product Disclosure Statement and Target Market Determination and refer to your broker for the full details of any policy.
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This page is general information only. It does not take your situation into account and it is not a recommendation to buy any policy. Cover, limits and exclusions vary between insurers, so read the Product Disclosure Statement and Target Market Determination and refer to your broker for the full details of any policy.
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