Marine Insurance: Comprehensive Protection for Goods in Transit
Marine insurance provides extensive coverage for property during transit, ensuring protection for ships, cargo, terminals, and various modes of transportation. While traditionally associated with sea freight, marine insurance extends its scope to goods transported by rail, road, air, and inland waterways.
Key Features of Marine Insurance::
- Cargo Insurance
Safeguards goods during transit, covering potential risks from departure to destination.
- Onshore and Offshore Coverage
Includes container terminals, ports, oil platforms, pipelines, and more.
- Comprehensive Transit Coverage
Protects goods across diverse transport networks, ensuring seamless operations.
Safeguards goods during transit, covering potential risks from departure to destination.
Includes container terminals, ports, oil platforms, pipelines, and more.
Protects goods across diverse transport networks, ensuring seamless operations.
Marine insurance is essential for businesses involved in shipping products, offering peace of mind and financial security. By covering risks across multimodal transport systems, it enables companies to navigate global trade with confidence.
Secure your shipments and ensure uninterrupted operations with a tailored marine insurance policy that meets your business needs.
Frequently Asked Questions
Marine Insurance provides coverage against losses or damages to ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between points of origin and final destination.
Businesses involved in the import and export of goods, shipping companies, and logistics providers should consider Marine Insurance to protect against potential losses during transit.
Coverage typically includes:
Common exclusions include:
Premiums are influenced by factors such as the nature of goods, packaging, mode of transport, distance, and past claim history.
Yes, marine insurance is compulsory for all ship or vessel owners who participate in commercial activities.
To file a claim:
Yes, Marine Insurance policies can cover both domestic and international shipments, depending on the terms and conditions agreed upon with the insurer.
General Average refers to a loss that is shared among all stakeholders (shipowner, cargo owners) when a voluntary sacrifice is made, such as jettisoning cargo to save the vessel and its contents.
Yes, insurers offer additional covers such as:
Yes, Marine Insurance policies can be tailored to meet the specific needs of the insured, including the type of goods, mode of transport, and route.