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Protect Your Marine Cargo And Your Business with an Insurance Policy

Being in the freight forwarding business can be an investment. When cargoes get lost or damaged, it could cost you thousands or even millions to recover the goods.  If your business involves the movement of cargo from one location to another, marine cargo insurance can protect your cargo from financial losses due to physical damage or loss of cargo being transported via sea, land, and air. 


Marine cargo insurance protects the cargo to be transported from its point of origin, continues during its ordinary course of transit, and ends when the cargo reaches its final destination. At Assurance PH, we insure the following types of cargoes: 

  • Automobiles, trucks, heavy equipment and spare parts (while onboard a carrying conveyance or vessel)
  • Hardware, machinery, office supplies, and stationery
  • Electrical goods, hand tools and telecommunications, equipment (excluding cellular phones and accessories)
  • Household goods and appliances 
  • Furniture and related wood products
  • Garments, clothing, and textiles
  • Leather goods, shoes, handbags, and accessories
  • Sporting goods, leisure, and health items 
  • Non-breakable toys 
  • Pharmaceutical products 
  • Canned goods and dry goods 
  • Frozen meat and food 
  • Natural rubber, latex in drums
  • Oil and lubricants in drums and chemicals in drums and bags (either palletized or shrink-wrapped), among others

Types of Marine Cargo Insurance by Duration
of Coverage

We offer the following insurance policy by the duration of coverage:

1. Voyage Policy 

Our voyage policy insurance provides coverage for one shipment only. The premium we offer for this type of policy is affordable as it covers only one shipment usually from point to point in one continuous transit. Voyage Policy is recommended for occasional transport of cargo only. 

2. Annual Policy

From the name itself, the annual policy provides coverage for 12 months. With this type of policy, you need to declare all cargo at the beginning of the policy period so that their transport gets automatic coverage. An annual policy is recommended for clients who frequently ship cargo every year. 

3. Marine Open Policy

A Marine Open policy provides coverage for cargo over a period of time and will remain open until cancelled by the assured or the insurer. It provides a client with forwarding cover for the cargo so that he does not need to apply for cover for an impending shipment. With a Marine Open policy, the terms and conditions remain unchanged during the effectivity of the policy. It is recommended for clients with a large number and volume of shipments annually. 


Here at Assurance PH, we offer the following types of marine cargo according to their risk area: 

Ocean Marine
For cargo being transported from one country to another
For domestic transport of cargo via Roll On-Roll Off (RORO) or crgo vessels
Inland Transit
For cargo on board duly registered land conveyances
Air Cargo
For cargo on board regular commercial aircraft

Why You Need Marine Cargo Insurance?

There are four good reasons you should consider marine cargo insurance:

1. Your goods may be damaged or lost in transit from island to island 

In case of an accident, your goods can be damaged or lost at sea, you may not have sufficient funds to absorb or recover from such losses. Marine cargo insurance from Assurance PH will indemnify you for the losses and damages to your cargo. 

2. Your goods may be damaged or lost on the road 

In case of an accident where your goods are damaged or lost while on the road, you may not be able to pay for the losses or damage from your own pocket. With an Inland Transit Cargo Insurance policy, you will be indemnified for the losses and damages to your cargo. 

3. You may become a victim of robbery or hijacking

Should you lose your cargo due to robbery or hijacking, will you have the finances to pay or recover such losses? With a Robbery and Hijacking cover from our Inland Transit Cargo Insurance Policy, we will provide you with the needed funds to pay for the recovery of the lost cargo

4. Your Contract with Clients Need To Be Protected 

In the event that your business partners needing a subcontractor requires insurance for accreditation, but your carrier’s liability has limited coverage, an insurance policy from Assurance PH will cover the costs that will be incurred due to delays, loss of market, or consequential losses due to damage to the cargo while it is in your custody. For cargo owners, you will need to prove that your carrier is at fault for the loss or damage to the cargo or the claim will be denied.

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