Marine Cargo and Goods In Transit Insurance


Marine Cargo Insurance covers physical damage to, or loss of goods whilst in transit by land, sea and air.

Unfortunately, many companies don't get involved in arranging this type of insurance because they feel it will be complicated, more costly and the cover arranged by the importer will be sufficient to protect their goods.

Unfortunately this can be a huge mistake as discussed below.

But I already import goods under CIF conditions or via a letter of credit - what does this mean for me?

If you buy from your overseas suppliers on Cost, Insurance & Freight (CIF) or via a letter of credit then the supplier will pay for the freight to transport the goods to the port of destination and provide insurance for the loss of or damage to the goods during transit. The risk may transfer to you when the goods cross the outer rail of the ship at the port of destination and not always back to your warehouse. The problems with accepting the suppliers insurance are as follows:-

1) Insurance has been agreed by the seller and cover will often be minimal and/or restrictive.

2) You need to make the claim yourself against the sellers insurance which will probably be overseas.

3) The insurance is not free when included in CIF and is often around four times higher than it should be.

4) You carry the risk once the goods have crossed the ships rail at the port of destination back to your

business. You therefore need to arrange insurance cover anyway.

5) Security of some overseas insurance companies is poor compared to the highly regulated UK market

Ask us to obtain a marine cargo insurance quotation and compare the costs to buy goods on a CFR basis (excluding insurance). Now compare your profit margins and the far superior insurance protection.

I export myself but leave my customers to arrange their own insurance:

It is obviously more enticing for a buyer if insurance is also arranged for them rather than having to arrange their own. It should also make it more costly for them overall as well as more complex. As you will charge back the insurance to your client the marine cargo insurance policy you purchase will effectively be paid for in any case. Many foreign buyers see buying under CIF conditions as an essential service provided by the exporter, given that cargo insurance rates in the UK are often much cheaper with better quality insurers. UK companies who do not offer exports on a CIF basis will often lose out to their competitors

You can download and print a copy of this information here.

How to obtain a Marine Cargo Insurance quotation:

Marine Cargo Insurance is actually a very simple form of insurance to calculate. We would need to know the methods of shipment (road, air, sea), maximum value any one shipment, expected annual imports and exports and where are you importing from or exporting to in the world.

To discuss your Marine Cargo Insurance requirements please call Richard Gorst on 0151 423 7500 or email:

Alternatively, for a free Marine Cargo Insurance renewal quote, simply click here and complete this form.

Goods In Transit Insurance

Goods in Transit Insurance covers goods against loss or damage whilst in your vehicle or when sent by a third party carrier. The sum insured may be a limit for each package, each vehicle or any one consignment.

Cover options:


Theft – whilst in transit
Loss – whilst in transit
Damage – caused by accidents during transit
Damage – caused during transit

As well as ALL RISKS COVER policies can also cover UK RHA Conditions as well as UK & European CMR Conditions.



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Mitchell Charlesworth Insurance Solutions Ltd is registered in England and Wales no. 7002662 and is authorised and regulated by the Financial Conduct Authority.

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