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What is Marine Transit Insurance?

by Kobus Van den Bergh | Sep 28, 2016
  • We all know that excess baggage fees are ridiculous and that it’s not pleasant to carry four suitcases around. The best way to get around it? Ship your goods. When you’re loading your things onto a carrier, you will need to give some thought to the “what if” of something not arriving at its destination.
    91_What-is-Marine-Transit-Insurance

    What is Marine Transit Insurance?

    Marine Transit Insurance covers the loss or damage of cargo between the points of origin and final destination. It is also known as “goods in transit” insurance.

    Why do you need it?

    Shipping companies generally take every precaution to protect your possessions while they are in transit. However, things can go wrong. It’s recommend that you insure your goods for their replacement value at your destination. This is where Marine Transit Insurance comes in.

    What 1st Contact Shipping offers you

    Our Marine Transit Insurance covers all risks of loss or damage in transit and is available at a premium of 5% of the value you declare on our Insurance Proposal form. Alternatively, we can offer protection against total loss only at a premium of 3.5% of the value you declare.

    Why you should consider shipping your goods

    Still in two minds?

    • Over 90% of world trade is carried by the international shipping industry.
    • Shipping is regulated by the International Maritime Organization (IMO), ensuring a total commitment to safety.
    • Shipping is the least environmentally damaging form of commercial transport.

    1st Contact Shipping offers fast, safe and cheap international shipping to over 85 countries. Request a quote, or call one of our consultants on +44 (0) 80 8141 5520 and we’ll help you move your excess goods.

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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    South Africa

    Cape Town

    Regent Square
    Doncaster Road
    Kenilworth 7708 +27 (0) 21 657 2120

    Durban

    25 Richefond Circle
    Ridgeside
    Umhlanga 4320 +27 (0) 31 536 8843

    United Kingdom

    Croydon

    One Croydon
    12-16 Addiscombe Road
    Croydon CR0 0XT +44 (0) 20 7759 7514

    Australia

    Melbourne

    9 Yarra Street
    South Yarra
    VIC 3141 +613 (0) 8651 4500

    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services License issued by ASIC to deal in foreign exchange (1st Contact Group - AFS License number 335 126).

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