GENERAL
Annual transit insurance is a single policy that covers your business’s shipments over a 12-month period, so you don’t need to buy an individual policy for every trip. For Australian businesses that rely on frequent freight movement, it can protect goods against loss, damage and theft during road, rail, sea or air transport, subject to the policy terms, conditions and exclusions. You can ask about annual cover when you request a cargo and transit insurance quote.
Why is annual transit insurance important?
- Frequent shipments: Australian businesses often have ongoing shipping needs. An annual policy is a cost-effective way to cover shipments throughout the year without buying a separate policy for every trip.
- Broader cover than carrier liability: unlike basic carrier liability, annual transit insurance can protect your goods against loss, damage (from accidents, weather or mishandling) and theft during road, rail, sea or air transport, within Australia or internationally. Read our cargo and transit FAQs for common extensions and exclusions.
- Peace of mind: annual cover simplifies the process and provides continuous protection, so you can focus on core business operations.
- Reduced risk, increased confidence: by reducing the financial impact of unforeseen events, annual transit insurance helps businesses take on new ventures and expand their reach with greater confidence.
If you ship internationally, the ICC Incoterms rules define when the financial risk of cargo damage passes from the seller to the buyer, which affects who needs to insure the goods.
Why arrange annual transit insurance through an Australian broker?
- Tailored cover: Freight Insurance Services International understands the diverse needs of Australian businesses. As a broker, we arrange annual transit insurance with insurers and tailor it to the value, route and cover requirements of your cargo.
- Competitive rates: annual cover can be more cost-effective than buying individual trip policies, and we aim to secure competitive rates so your business receives good value.
- Expert advice: our experienced team can guide you through the process, answer your questions and help you choose a suitable annual transit insurance plan.
How do I get an annual transit insurance quote?
FIS International is an Australian insurance broker based in Moorabbin, Melbourne. You can request a quote online, call 1800 656 836 or contact our team. If something goes wrong in transit, we can help you lodge a claim through our claims page. Learn more about FIS International.
Frequently Asked Questions
How is an annual transit insurance premium worked out?
Mainly from the estimated value of goods you will ship over the year, split by transport mode and route, together with the types of goods and your claims history. A minimum premium may apply.
Is there a limit per shipment under an annual policy?
Yes. Annual policies set a maximum amount for any one shipment or conveyance. If a shipment will exceed that limit, tell us before it leaves so the cover can be agreed.
Does annual transit insurance cover goods stored in my warehouse?
No. Transit insurance covers goods while they are moving, plus any incidental storage the policy allows. Stock held at your own premises needs property or stock insurance.
This information is general in nature and does not take into account your objectives, financial situation or needs. Please read the policy wording and our Financial Services Guide before deciding.
