Marine transit insurance protects goods in motion, helping Australian businesses avoid financial loss from damage, theft or shipping delays.

Marine transit insurance is a specialised policy that covers goods while they are being transported within Australia or internationally. It protects against physical loss or damage during transit, including theft, fire, collision, overturning, and other unforeseen events.

The name is outdated, as contemporary marine transit policies also cover transit by land and air.

Despite the name, it is essentially cargo insurance for goods in transit. The term "marine" persists due to its legal and underwriting origins, but modern policies are multimodal and reflect the realities of contemporary logistics.

This type of insurance is essential for businesses that import, export, or distribute goods. Whether you are a manufacturer shipping raw materials, a wholesaler moving stock, or a retailer receiving international deliveries, marine transit insurance ensures your cargo is financially protected from the moment it leaves the warehouse to when it reaches its destination.

Typical coverage includes:

• Accidental damage during loading, unloading, or transit
• Loss or theft of goods in transit
• Fire, explosion, or natural disasters
• General average contributions (shared shipping losses)
• Optional extensions for refrigerated goods, high-value items, or specific destinations

Policies can be arranged for:

• Single shipments (ideal for one-off deliveries)
• Annual cover (for regular or high-volume shipments)
• Combined cartage (for transport providers covering third-party goods)

The COVID-19 pandemic highlighted the fragility of global supply chains. Delays, port closures, and cargo losses became more common, reinforcing the need for robust transit protection. Without insurance, businesses risk significant financial loss, operational disruption, and reputational damage.

Marine transit insurance is not just for large exporters. Small and medium-sized enterprises benefit from tailored policies that match their shipping frequency, cargo type, and risk profile. It is a practical safeguard that ensures goods in motion are not profits at risk.