Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.

Additional
Cargo
Products

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 accident 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 Cunningham Lindsey on Call us0800 800 270.

Online broker and customer tools

Documents

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:

  • Physical loss of, or damage to, the insured building while it is in transit up to a sum insured based on the market value of the building including selected additional costs (as set out below)
  • Debris removal in the event of an accident, and expediting expenses costs (such as paying more to get materials for the repair delivered sooner) - automatically included up to specific limits
  • Selected additional costs that you incur if the building is damaged or destroyed, including:
    • Removal costs, such as the costs of transit, of preparing the building for transit, and of preparing the destination site
    • Administration costs, for which the insured is contractually liable, such as council permits - up to 10% of the total sum insured
    • Additional professional costs, including architect's, surveyor's and legal fees

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.

Find a broker

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. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice. We recommend that before you purchase insurance, you get professional advice from a broker or adviser who’s registered under the Financial Advisers Act 2008.