Marine Insurance

The best way to safeguard your business against cargo loss are given below:

  • Provides protection to cargo in case of loss, damage or misplacement
  • Worldwide claims survey and settlement support
  • Hull, Cargo, Freight and Liability Insurance

What is Marine Insurance?

Marine insurance in India is a special kind of insurance policy which is designed to cover the damage or loss of ships, terminals or any cargo by which the property is transported, held or acquired between the locations.

Marine insurance in India also consists of Offshore and Onshore exposed properties like ports, container terminals, pipelines, oil platforms, Marine Casualty, Hull, and Marine Liability etc. Marine insurance policy is similar to the term ‘insurance’, the name denotes an insurance policy that is specifically provided to ships, boats and most importantly, the cargo that is carried in them.

Marine insurance is compulsory for all type of ships and yacht owners, especially when the vessel is used for commercial purposes or transportation purposes and where it will be carrying passengers, or cargo across international waters. You should choose most favorable insurance policy that covers you for different types of risks along with obtaining marine insurance online for your vehicle or operating business.

Importance of Marine Insurance in India

Marine insurance online has its own exceptional importance. Marine insurance ensures ship owners of claiming damages considering the form of transportation which is used – marine insurance has its own unique importance.

Transport systems are divided into 4 categories which are used worldwide – road, rail, air and water. Out of all these four means of transport systems, water system causes a lot of problems to the transporters not only for the reason that there can be various unforeseen natural occurrences that can potentially damage or harm to the vehicle but also because of many other unforeseen attributes and incidents that could cast a huge loss or damage in the financial chest of the shipping corporation or the transporter.

To prevent all such circumstances, it’s very important to secure any marine or similar organization you run. Marine insurance policies help you compensate for the huge amount of loss that you could suffer.

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