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What Is Marine Cargo Insurance?

Marine cargo insurance covers losses, arising from physical damage to goods, while being transported around the world, whether by road, rail, sea or air and even in storage.  This coverage is especially important when you are importing or exporting goods overseas as your goods can be handled by various companies over many continents.  Cargo cover will also cover your UK based, Goods-In-Transit for the collection and delivery of your own goods.

Why Do I Need Marine Cargo Insurance?

If your company delivers, imports or exports goods or uses third-party companies to move your goods, then a Marine Cargo Insurance policy offers you specialist protection against the loss or damage to your goods. Importing and Exporting goods can carry unseen risks such as general average losses (see below) which may not be covered by your shipper’s insurance policy and this can cause significant financial losses to the owner of the goods. A cargo policy puts you in financial control of the loss and insurers will pay you directly and decide who was liable in their time, not yours.

But the Hauliers insure my cargo, don’t they?

Hauliers only insure their liability for loss or damage. In the event that cargo is damaged while the haulier is transporting it and assuming the haulier is negligent (therefore, liable), the compensation they pay is controlled by their contract conditions, such as RHA Conditions of Carriage 2009. So, even if two tonnes of cargo is worth £20,000, they will only be liable to pay £2,600 under standard RHA conditions, leaving you £17,400 out of pocket. Cargo insurance prevents such shortfalls.

How much is Marine Cargo Insurance? – From £365.00 Including £100,000 Stock Cover

The premium is determined by the overall sending’s of your business, and the limit of cover you require

DPI can offer annual policies that will protect your goods for damage or theft and general average with cost-effective solutions that can lower your shipping insurance costs while improving your coverage and protection.

Types of Claims Made Against Marine Cargo Policies

  Theft & Loss


  Heavy weather

 Ship  Sinking






  General Average

Claims Examples

In 2007, MSC Napoli, a 62,000-tonne container ship was damaged during a storm and grounded in Lyme Bay, Devon.

The story made the headlines, not least because around 100 containers (of 2,300) washed ashore resulting in many people heading to Brans combe Beach and helping themselves to a range of goods including motorbikes, car parts, hair products and disposable nappies. A report by the Marine Accident Investigation Branch later found ‘discrepancies in declared weights of containers’, and this may have been a contributing factor to the disaster. The total claims bill facing insurers following the disaster was around £120 million and covered the value of the vessel, salvage, clean-up costs and costs of lost insured cargo – it was reported that around 40% of the goods were uninsured. Without insurance, it is clear such huge losses could have a devastating effect on businesses and commercial relationships.

Another incident occurred in June 2013, when containership MOL Comfort split in half while sailing from Singapore to Saudi Arabia with the loss of 4,500 containers. The cause is still unknown but is likely to have been due, at least in part, to undeclared overweight containers being stowed in the wrong positions, contributing to severe stresses on the hull.

Why Choose Dpi Insurance?

  • We only use A Rated Insurers
  • Preferential Rates lowering your premiums
  • Family Run Business
  • Dedicated Claims Department
  • Bespoke Packages available tailored to suit your business
  • Pre-Priced Proposal Forms
  • Limits up to £1,000,000 Per Transit
  • Friendly and Experienced sales staff
  • Free Risk Assessments