Specialist cover you can count on

While a general marine cargo policy covers physical damage to goods, there may be times when you need more specific additional cover for your cargo.

Talk to us about cover for these situations, including:

Consequential Loss:

Cover in addition to a standard marine cargo policy, which provides protection for financial losses following accidental loss to, or delay of, cargo.

Buildings in Transit:

A transit policy specially designed for the relocation of buildings within New Zealand.

Need to claim?

If you need to make a claim for your cargo, please follow our Cargo claims procedure, and Emailsend us an email.

If you have a Vero Marine insurance certificate, contact your nearest Claims Agent.

For after–hours emergency assistance in New Zealand, call Sedgwick on Call us0800 800 270.

Online broker and customer tools


PDF DocumentBuildings in Transit policy

PDF DocumentBuildings in Transit proposal*

PDF DocumentMarine Advanced Profits (Consequential Loss) questionnaire

PDF DocumentMarine Claims Information Sheet

*In order to complete online, please save to your device and then open using Adobe Acrobat reader.

Brokers can find more documents in the Broker & adviser centre

Marine Insurance and Consequential Loss

With our Marine Cargo policies, you’re covered against accidental loss or damage to your goods during transit. But sometimes the loss or delay of your cargo can lead to other losses and ultimately have far-reaching effects.

For example, a standard Marine Cargo Policy may include a small percentage of cover for certain costs, but it won’t normally provide enough to compensate for other financial losses which can occur when goods are lost, damaged or delayed in transit.

Consequential loss insurance provides you with additional protection for the follow-on impact lost cargo can have on your business. It’s normally associated with plant and machinery items being transported as project cargo, but it can also be applied to many other forms of cargo. 

You can include cover for:

  • Increased cost of working
  • Delayed Start Up (DSU)
  • Standing charges (ie. fixed overhead costs)
  • Anticipated or Actual Loss of profits (ALOP)
  • Interest on loans
  • Additional promotional costs
  • Loss of tax incentive
  • Claims preparation costs

How it works - an example

If new machinery is lost or damaged in transit or the delivery is delayed, you may be able to claim for lost projected sales revenues and profits together with any additional expenses incurred to keep old plant running while waiting for the new machinery to arrive.

Because we have extensive experience in writing consequential loss policies, we know it can require quite a lot of information from you to properly assess the risk to make sure that we are providing the cover that you actually need.

If you’re interested in taking out a Consequential Loss policy, please talk to us early on before transit starts, so we have enough time to assess the risk and develop a policy that will be right for you.

Working together

In order for us to write your consequential loss cover, we must also be the insurer of your cargo. This means we can help guide any arrangements for repair or replacement of lost or damaged items, and help mitigate the effects a possible loss may have on your Consequential Loss policy.

Moving buildings

Many houses in New Zealand are constructed of timber, due to the risk of earthquakes and the abundance of raw material. It’s quite common to see such older houses being moved from one location to another.

We have designed specific cover for these buildings while they’re in transit.

Our Buildings in Transit policy covers:

  • Accidental, physical loss of, or damage to, the insured building while it is in transit up to a sum insured based on
    • the value of the building alone at its original site excluding GST
    • Removal costs, such as the costs of transit, of preparing the building for transit, and of preparing the destination site
    • Additional professional costs incurred, including architect's, surveyor's and legal fees
    • An allowance for the Insured's administration costs, up to a maximum of 10% of the above values.
  • Debris removal in the event of an accident up to NZD 10,000, and Expediting expenses costs (such as paying more to get materials for the repair delivered sooner) up to NZD 5,000 - automatically included.

There is also an optional extension that may be available to provide limited cover where the insured building is made up of separate structures or is divided into separate sections for transit.

Not quite what you’re looking for?

If the products above don’t quite suit your needs, take a look at our other cargo products, or get in touch with a broker or adviser for personalised help.

Single transit cargo insurance

Marine cargo open policies

Why insure in New Zealand?

Whether you’re importing or exporting cargo, you can keep control by arranging your own cargo insurance with a broker or adviser in New Zealand.

Find out more

Get insured with Vero

For expert advice on how Vero can help you with your insurance needs, talk to a broker or adviser. Our locator helps you find a broker or adviser near you.

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Important information

Excesses, terms, conditions, limits and exclusions apply to these policies. Please check the policy wording for details of cover. The provision of cover is subject to the underwriting criteria that apply at the time.

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life and business that really matter and is not intended to be financial advice. For advice on product suitability, please contact your financial adviser.