NTI’s Marine Cargo policy, formerly called NTI Road Freight, is a flexible and unique cover which you can select in a combination to best suit your needs. The policy offers the choice of Carrier’s Goods In Transit (Perils) cover or a broader Accidental Damage insurance option depending on the level of cover required.
Section 1 - Carrier’s Cargo Liability Cover
We can cover liability for loss or damage to goods being carried (subject to your approved Terms of Cartage) and pay the legal fees up to $250,000. You have the choice of optional freight consequential loss protection in case the business is negatively impacted due to damage to freight in transit.
Section 2 - Goods in Transit cover for Insured Perils
Designed for small to medium transport and logistic operators, this policy includes cover for the physical loss or damage to freight in transit (within Australia) arising out of 13 defined events including flood, fire, collision, overturning and jack-knifing. Optional extensions include:
- up to $100,000 in consequential loss cover
- loading and unloading cover
- temperature controlled haulage
- nominated Special Contracts insurance.
Section 3 - Accidental Damage cover*
This is a comprehensive freight cover which automatically includes Carrier’s Cargo Liability Section 1 cover if NTI has approved your Terms and Conditions of Cartage. The cover includes automatic cover for:
- loading and unloading
- shedding of load
- theft, pilferage and non delivery.
Optional extensions include freight consequential loss up to $100,000.
Section 2 and Section 3 cover includes the following benefits for policy holders:
- up to $50,000 for expenses related to recovery cost and mustering/agistment plus up to $50,000 for clearing debris
- up to $10,000 for hire of a replacement vehicle and up to $20,000 to repair/replace shipping containers
- subcontractor indemnity cover.