Coverage is meant for transportation of goods or items by sea or air. Marine Cargo Insurance policy provides indemnity against loss or damage for goods being transported by sea or air and incidental land transportation. Either single voyage policies or annual policies are offered.
Types of covers available:
Hull insurance is an insurance policy especially designed for covering ship damage expenses. Also includes any fixtures attached to the hull of the ship as a functional part, into the definition of hull.
Hull insurance helps vessel owners to secure their vehicles against machinery damage and destruction of hull, fittings, liabilities, etc.
Mainly the policy insures against the following perils:
- Destruction of hull
- Damage to machinery
- Disbursement losses
- Ship-breaking losses
- Fittings and freight
Hull insurance policies can also include third party liability such as cover for losses or damages caused by your vessels to other ships or boats, or injury to the ship workers
Marine cargo policy covers risks of loss or damage from accidental causes such as sinking, stranding, fire, collision, sea water, heavy weather, contact, explosion, damage during discharge or loading and special charges incurred at the point of distress and a wide range of other perils.
The policy provides cover against loss or damage for goods being transported by either sea or air and incidental land transportation. Our Marine policies can either be single voyage policies or annual policies.