Despite major advancements in other forms of transportation, a surprising 90% of all goods are transported by ship.
The Marine Insurance policy covers the loss or damage to property caused due to:
- Natural disasters like cyclone, earthquake, lightning, etc.
- Man-made disasters like theft, violence, and piracy of ships
- Collision, overturning or derailment of land conveyance
- Sinking or stranding of ships
- Expenses such as survey fees, forwarding costs, and reconditioning costs
- The Marine Insurance Policy covers transits by: Air, Land, Water, Rail Road, Courier, etc.
Marine insurance policies are available in different structures. Based on how frequently you need marine insurance you can select a structure:
- Annual Turn over Policy (ATOP)
- Specific Voyage
- Open Policy
- Annual Policy.