Marine Insurance or Product Movement Insurance

Insurance Brokers Melbourne is a leading marine insurance broker in Australia.  We offer boat insurance, cargo insurance, transit insurance, commercial marine insurance, hull & marine liability insurance.  

Carriers Cargo Liability Insurance

Insurance Brokers Melbourne is able to arrange and place all your Carriers Cargo Liability Insurance requirements Australia wide. Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Carriers Cargo Liability Insurance needs Australia wide.

Marine Single Transit Insurance - Inland

Insurance Brokers Melbourne is able to arrange and place all your Marine Single Transit Insurance- Inland  requirements Australia wide. Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Marine Single Transit Insurance- Inland Insurance needs world wide.

Marine Single Transit Insurance - Imports/Exports

Annual Marine Cargo Insurance - Inland

Insurance Brokers Melbourne is able to arrange and place all your Annual Marine Cargo  Insurance- Inland  requirements Australia wide. Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Annual Marine Cargo Insurance- Inland Insurance needs world wide.

Annual Marine Cargo Insurance - Imports/Exports

Product Movement Insurance or Marine Insurance - Description

Shipment of your products and goods is known as Marine Insurance. It does not matter if the mode of transport is sea, air, land or post - it is Marine Insurance.

It is the oldest known form of insurance known to modern man. The most ancient records show that more than 4,000 years ago, Chinese merchants would spread their cargo amongst other traders so that they could cross the Yangtze river. Imagine 10 traders, with 10 boats, each carrying 1/10th of each trader's cargo. If one boat went down, the traders still had 90% of their cargo intact.

So much for history, Product Movement Insurance or Marine Insurance can be quite complicated, because the insurance companies have to follow World Protocols so that claims will be dealt with on a common basis. Out of interest, the next known 'western; insurance came after the Great Fire of London in the 1600s and Lloyds of London followed in the coffee houses soon after.

There are many hundreds of clauses that effect the style of Product Movement Insurance or Marine Insurance cover available to you. It is a minefield of jargon and problems. You should consult a competent broker with good marine knowledge so that your policy will respond to any claim that you have.

Remember, Marine insurance is a difficult area of Insurance and not as straight forward as commercial insurance. It takes an experienced broker with Marine Insurance knowledge to negotiate on client behalf so that the correct policy is put in place.

Douglas Campbell at Insurance Broker Melbourne has these skills. Contact him for professional advice for Marine Insurance on info@insurancebrokermelbourne.com.au.

Marine Insurance Policy Coverage Types

Marine Liability Insurance

Yacht Club Insurance

Ocean marine and Air marine cargo insurance

Ocean and air marine cargo insurance are an increasingly complex area of insurance.  Businesses engaging in import and export activities should consider taking out cargo insurance to cover against the risk of loss or damage during that transit.

Two principal forms of cargo insurance cover should be considered by importers and exporters:
1.      A voyage policy covers cargo for a single trip described in the policy.
2.      An open cargo policy – essentially a reporting form policy that covers all goods shipped or received by the insured during the term of the policy.

Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Ocean marine and Air marine cargo Insurnance needs in Australia.

Bareboat Hirers Liability Insurance

Bareboat Charter is the contract or hire of a ship under which the shipowner is usually paid a fixed amount of charterhire for a certain period of time during which the charterer is responsible for the operating costs and voyage costs of the ship as well as arranging for crewing.  

A bareboat hirers liability insurance policy is designed to protect you from claims made against you by Third Parties as a result of your negligence in the operation or use of a hired vessel.  This type of policy provides insurance against your legal liability to pay claims for Loss or Damage to Third Party Property, or the Accidental Death, Bodily Injury or Illness of a Third Party. For a bareboat hirers liability insurance policy to respond to claims made against you, you, the hired vessel (the named Bareboat) or its tender must be involved in the loss. 

Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Bareboat Hirers Liability Insurance needs in Australia.

Marine Commercial Hull Insurance

Commercial Hull Insurance typically includes insurance for loss of, or damage to, owned vessels.   Commercial Hull Insurance is insurance for hull risks and associated liabilities of all types of working vessels from passenger vessels, gaming vessels, Oceanographic Research Vessels, oyster punts to ocean liners, and including harbour craft, cargo and passenger carrying vessels. 

Contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Marine Commercial Hull Insurance - Commercial Vessels Insurance - Marine Commercial Insurance - Ocean Marine Insurance needs in Australia  

Boat Insurance - Pleasurecraft Insurance - Yacht Insurance

Insurance Brokers Melbourne is one of Australia’s leading firms of Yacht Insurance and Pleasure Craft Insurance brokers. From small sailing dinghies Insurance to large motor cruisers Insurance, and racing yachts Insurance, we have the enthusiasm and expertise to find exactly the right policy for our clients, at the right price.  All our insurance policies are placed with leading Company Insurers, and insurance policies can be arranged on an agreed basis, covering amongst others the following risks: 

Loss or damage to your vessel, including the gear and machinery, tenders and dinghies, outboard motors, sails and rigging, trailers and all ancillaries belonging to the vessel, following a number of defined events typically including:   

• Fire, Explosion or Lightning damage
• Vandalism or Malicious damage, or any act of negligence.
• Latent Defects in the hull or machinery
• Sinking or stranding
• Weather related damage
• Damage whilst loading or unloading
• Bursting of boilers or breakage of shafts
• Collision, or other external accidental means
• Outboard Motors falling off
• Theft of the entire craft, or of gear or equipment following a forcible entry to the craft itself or its storage location
• Racing Risks (where required).   

Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Boat Insurance - Pleasurecraft Insurance - Motorboat Insurance - Private Pleasecraft - Yacht Insurance and Marine Insurance needs in Australia. 

Marina Operators Liability Insurance

Marina Operators Liability Insurance coverage is designed to protect the Marina Operator for property damage which may occur to private pleasure vessels in his care, custody and control. Covered operations of the Insured may include Repair, Alteration, Service, Maintenance, Storage, Mooring, Hauling or launching and Fueling activities. 

 Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Marina Operators Liability Insurance - Marina Insurance needs in Australia.  

Port Authorities Liability Insurance

The prime purpose of Port Authorities Liability Insurance is to provide coverage against liability for loss or damage to cargo on docks, piers, wharves or ports while in the custody of the terminal, dock, wharf, or pier operator. Freight terminals may be operated by steamship companies, port authorities or virtually any owner or lessee of waterfront property.

At the terminal, vessels can dock and cargo can be loaded, unloaded, and/or temporarily held in storage awaiting further transit. Frequently, the Terminal Operator’s coverage will extend to include the loading and unloading. A further element of exposure might be his obligation to provide safe berth for vessels. 

Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Marina Operators Liability Insurance - Marina Insurance needs in Australia. 

Ship Repairers Insurance - Boat Builders Insurance - Shipwrights Insurance - Boat Maker Insurance - Boat Manufacturer Insurance - Boat Distributer Insurance - Marine Liability Insurance

Insurance Brokers Melbourne is able to assist you to arrange and place your Marine insurance and Ship Repairers Insurance requirements around Australia. This includes affordable insurance for smaller or part-time ship repairers of potential liability for damage to vessels being worked upon, and for third party property damage, death or injury. Special extended cover is provided for larger yards or operators, eliminating the need for certain public liability insurances.

Marine Liability Insurance is available either on a stand-alone basis, or written in conjunction with hull risks. 

We have access to a range of products available including: 

• Charterers Liability
• Freight Forwarders Liability
• Marina Operators Liability
• Marina and/or Yacht Club Liability
• Port and Terminal Operators Liability
• Race Organisers Liability
• Ship Repairers Liability
• Stevedores Liability 

Please contact Insurance Brokers Melbourne now on Freecall 1300 880 409 or via email at info@insurancebrokermelbourne.com.au to learn more about our company and the value of engaging us as your broker to service your Ship Repairers Insurance - Boat Builders Insurance - Shipwrights Insurance - Boat Maker Insurance - Boat Company Insurance - Marine Liability Insurance needs in Australia.  

Pitfalls of Product Movement Insurance or Marine Insurance Policies

When purchasing cargo from overseas many suppliers sell CIF (cost, insurance and freight). There are two potential problems here, ...

1. Their policy may not nominate the correct delivery address and the “bill of lading” may nominate “over the side at Melbourne Australia”. Fine ... your goods are here but as soon as the container touches the dock your insurance contract is considered complete and subsequent losses from this point are for your own account.

2. If you insure through your supplier, let's say in China for example, and there is a loss you have to deal with their agents to recover your loss. Good luck. 12 months might be a good outcome, because offshore insurers are not bound by the Australian Insurance Act 1973. Worst still you might not get paid at all, because they do not follow 'western' protocol. Insurance is a “promise to pay money in the future ... MAYBE"!

You decide to take a chance - not many ships sink these days, you can save a few thousand dollars ... she’ll be right mate. WRONG!

Have you heard of “GENERAL AVERAGE”? With an Australian or western insurance policy and if there is an incident on board the ship that causes the ship owners to call a “general average”, your insurers guarantee your bond to the insurance adjusters. Without insurance you will be required to pay the bond before your cargo is released to you.

This situation does not happen with air cargo only sea cargo.

Product Movement Insurance or Marine Insurance Frequently Asked Questions (FAQ's)

Q: Will my marine cargo insurance pay for delay from any insured peril?
A: Normally NO. If you are in the fashion business for example, send your consignment to its destination by air in a minimum of 5 consignments. That way you have a good chance of 80% getting through.

Q: Will my policy pay “duty” if I have a total loss.
A: Only if you nominate it in the insurance contract. Get a broker like us who understands marine insurance like us! (info@insurancebrokermelbourne.com.au)

For More Information About Product Movement Insurance or Marine Insurance Policies ...

For more information about Product Movement Insurance or Marine Insurance Policies send us an email, call us on 1300 880 409 or use our Contact page to send us an online inquiry. We will contact you within 24 hours to answer your inquiry.