Marine

Marine Cargo 

 

Marine/Cargo Insurance is used to cover accidents or perils of the sea, such as fire, theft, damage or collision.


Marine Hull refers to the vessel, while Marine Cargo refers to the goods being carried by the vessel and losses resulting from the perils are the ones covered.

Marine Hull

 

Marine Hull Insurance of vessel and its equipment’s are included under this cover, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.

 

This is an insurance against accidents causing damage to the vessel or capsizing .It covers ship owners, operators and those having insurable interest in the same.

 

Typically, marine insurance is split between the vessels and the cargo. Insurance of the vessels is generally known as "Hull and Machinery" (H&M). A more restricted form of cover is "Total Loss Only" (TLO), generally used as a reinsurance, which only covers the total loss of the vessel and not any partial loss.

Goods In Transit


Transportation of your goods from one place to another including imports/exports by road/rail/sea/air can be covered under this policy against the risks of fire and theft along the way or the sinking, derailment or collision of the conveying vehicle resulting into loss or damage to the goods.