Freight and Marine Cargo Insurance for Australian Businesses

This coverage provides protection of goods or livestock from physical loss and/or damage when they are imported to or exported from Melbourne or other areas of Australia. This type of protection can also be conveniently extended to cover inland transit under the same policy.

Reliable insurance cover you can trust

We understand that choosing the right policy for your goods in Australia can be a difficult and complicated task. Working with a specialist broker such as Midas allows you to easily select a policy that caters to your needs and ensures full protection in the event of damage or loss.

You need the right marine cargo insurance policy for your particular goods. The right policy and of course quote will offer the following benefits:

  • Provide you with cover if your goods go missing
  • Cover you in the event your goods get damaged in transit
  • Protect you from financial losses so that you are not out-of-pocket
  • Reduce your risk
  • Provide you with peace of mind knowing you and your goods are protected

Choose us for your marine cargo and freight policy requirements

Midas is a highly respected broker specialising in this field, working across Melbourne and Australia. Midas is a broker, not an insurance company. In the case that you are required to make a claim, we act on your behalf so you don't have to concern yourself with the claims process. Midas endeavours to get you the best result possible, in a suitable timeframe, allowing you to continue with business and enjoy a hassle free process.

There is no one size fits all when it comes to marine cargo and freight insurance policies. That's why we work with you to develop a policy to suit the specific commodity, voyage, and conditions your freight will be exposed to.

The two types of insurance we provide Melbourne and Australian businesses

  1. Open or annual cover (mainly for regular shippers such as importers / exporters)

Open or annual cover is the most common form of freight protection offered to Melbourne and wider areas of Australia. This is most often used by regular shippers of goods such as importers and exporters. This coverage includes freight forwarding agents, where a policy is issued to cover a number of consignments being shipped to and from various ports and destinations throughout the year.

The policy can be either for a specific value that requires renewal once the insured amount is exhausted, or an open policy that will be issued for an agreed period, allowing any number of shipments during that time. This type of marine cargo insurance is sometimes referred to as an 'open or annual policy' as the policy remains in-force for a stated period of time, usually a 12-month period.

Essentially, this is an agreement between a merchant and the freight insurance company to ensure all goods in transit fall within that agreement for an indefinite period, until the agreement is cancelled by either party. It specifies:

  • The general description of the goods
  • The countries or places the goods to be insured will travel to or from
  • The maximum value payable under the policy
  • How the goods will be valued
  • The conditions of insurance
  1. Single cargo shipments (for one-off shipments often referred to as 'voyage specific')

Voyage specific policy is the next most common form of marine cargo insurance, mainly taken out by individuals and/or small businesses for one-off shipments of cargo.

The cargo is priced as a one-off shipment and covered as one consignment from a particular destination to another. The freight insurance cover usually commences at the point of departure and ceases upon arrival at the final destination which may be a port or the customer's premises.

This type of protection is offered Australia wide, and is also sometimes referred to as a 'voyage policy' as the insurance covers only the specific shipment/voyage.

Expert brokers with access to world-class underwriters

In addition to our wide knowledge of general insurance as a freight insurance company, our team also has experience in the London marine cargo and hull insurance market. Not only do we have extensive access to leading insurance companies within Australia, but we also have access to international markets. Our relationship with world-class underwriters such as Lloyd's and the International Underwriting Association of London, allows you to receive high-quality coverage internationally. Midas broker services are designed to offer you the most favourable rates and comprehensive sea freight cover possible. If you're looking to secure your company marine insurance online Australia wide, we can help you.

Get in touch today or get an online quote

Contact Midas Insurance today on 1300 664 272 to have a member of our expert team assist you with a competitive public liability, event, personal or freight insurance quote.

Alternatively, complete either of the online forms above and we will contact you to discuss your insurance requirements. We're committed to providing you with an excellent quote that will be more than competitive.