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Marine Cargo Insurance

Marine Cargo InsuranceMarine Cargo Insurance has existed for many centuries and covers losses from physical damage to cargo and related liabilities. Cover extends from the sea transit leg to a period whilst in storage, after which it will be seen as property requiring different insurance.

The types of Cargo Policies that exist include;

Marine Cargo – Imports and Exports
This covers General Cargo generally shipped in containers. Certain products such as perishables or commodities will require specialised, specific cover. Marine Cargo insurance will cover the consignment for the full duration that our client is at risk, from the seller’s to the buyer’s premises including storage along the way.

Marine Cargo Insurance can be taken as a once-off policy or an ongoing open policy where cover remain in place for all consignments and premium is calculated on a declaration basis.

Inland Transit or Goods In Transit

Covers local transit of goods within the country and includes some neighbouring countries for transport of goods that does not include a sea-leg.

Marine Advanced Loss of Profits

Covers loss of profits and increased cost of working following a claim against a Marine Cargo Policy for an event that results in loss of production, turnover or a delay in start-up due to damaged critical equipment.

Containers

Covers the shipping container in which good covered by a Marine Cargo Policy are shipped.

Stock Throughput

Covers storage and local transit of stock in a more specialised way for complex transit journeys.

 

 

 

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