When your goods are shipped from one place to the next, they’re at risk from storms, fires, being dropped, collisions or even acts of piracy. Marine cargo insurance protects your goods while at sea, in the air or on the road. If you own a vessel of any size, hull insurance will cover you if the vessel is lost or damaged.
Having the right insurance depends on what kind of cargo you carry, the geographical areas you operate in, the types of vessels you own, and more. Our experienced team at Runacres can help identify the risks facing your business and tailor an insurance package solution that mitigates those risks. We want to give you the peace of mind that should an unfortunate or unforeseen event occur, your business is well protected.
Our national network partner, NZbrokers, has put together a list of six points for your business to consider when it comes to Marine Hull and Cargo insurance. We’ve summarised these into questions for your business here:
Needs: Did you know that you could be liable for the cost to replace a sunken cargo ship? This is known as “General Average” and applies to all the cargo owners who have goods on board a vessel that is lost at sea.
Risks: Have you assessed the real exposure for your business and how this can be managed?
Budget: What would a potential loss cost you? Can you afford not to insure for this?
Mitigation: What steps are you taking to protect your business from losses whilst in transit?
Visibility: When was the last time you reviewed your insurance and do you know if you’re covered for every eventuality?
Third parties: Which third parties do you work with and is this covered by your insurance?
Not sure if specialist marine hull and cargo insurance solutions can meet your needs? Contact Matthew our industry specialist today to receive an obligation-free risk assessment.