Do you operate a marine business? Transport goods? Marine insurance can provide you with peace of mind knowing that your business is covered. The variety of Marine Insurance policies helps you tailor the best cover for your business, some explanations of Marine insurance are noted below;

  • Marine Cargo Insurance: This policy is designed for businesses that transport their goods across Australia or overseas, whilst in transportation by road, sea, air or train, even by post or courier. The policy will cover your goods from point A to point B, whether inside Australia or internationally.
  • Commercial Hull Insurance: This policy is designed specifically for businesses who operate commercial vessels where their vessels are the centre of their business (from charter vessels, barges, ferries etc). Commercial Hull Insurance covers you for accidental loss or damage to the vessel machinery or equipment. It is advised operators should consider both Marine Cargo and Commercial Hull Insurance.
  • Marine Liability Insurance: This type of insurance is specifically designed for marine service providers, for example operators of a marina, stevedores, terminal operators, ship builders (whether small or large ship building manufacturers) and ship repairers, docking facilities, piers and pier facilities. It provides protection to property damage and personal injury to a third party while engaged in marine-related activities.  

For deciding which type of marine insurance is suitable for your business, talk to our insurance specialists today.

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General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

Insurance Advisernet , March 26 2019

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