RMK Insurance Consultants have been our brokers for the past 21 years for the simple reason that they have always achieved what is in our best interests. We have every confidence in their advice and thus safe in the knowledge that we have the right insurance cover for our business.
If your business has to move stock either within the UK, or export products abroad it is important that you have sufficient insurance cover in place to replace goods that may be lost or damaged whilst in transit. Where a carrier is at fault, some haulage or freight association members may provide a compensation scheme. However, the maximum reimbursement levels are often woefully inadequate to cover the value of your products (liability is limited by weight and can be as little as £1.30 per kilo) and even where a haulier has insurance, it is intended to protect the carrier, leaving your business to bear the financial loss. Is this a risk you can afford to take? Your own specialist marine transit insurance policy can be tailored to your requirements and will ensure you have all the necessary protection in place, so whether a carrier is at fault or not, you know you will be compensated for any insurable loss or damage, protecting your business and your profitability. Benefits of Marine Transit Insurance can include:
- All Risks Cover including War & Strikes; Salvage Conditions or ‘General Average’ (for example, where your goods are undamaged but in order to save the majority of a cargo &/or vessel, part of the cargo has been jettisoned overboard, then all interested parties will contribute proportionately the value of the lost cargo).
- Warehouse to Warehouse, including loading and unloading
- Cover for your stock while stored in either your own or, third party(s) warehouse(s)
RMK also has access to a market leading marine transit insurance wording which can also cover:
- Consequentional loss
- Delay caused by piracy
- Guarantee of collectability (claims recoverable irrespective of terms of sale or purchase)
- Removal of the ‘inadequate packing’ exclusion
- No inner limits with an overal standard policy limit of £5m
- All claims are recoverable unless the insurer can prove to the contrary
- No express warranties in the product wording
- No ‘conditions precedent’ – except where imposed by statute
- Automatic waiver of subrogation