Marine Insurance

Sagar’s marine cargo insurance protects your business when sending items of any kind to destinations via the sea. Marine insurance was the earliest well-developed kind of insurance, with origins in the Greek & Roman times.

There are different types of marine insurance, such as:

  • Marine Cargo insurance (relates to cover for cargo during transit)
  • Hull insurance (relating to ships)
  • Marine Liability insurance

Marine Cargo Insurance: What you need to know

  • Marine cargo insurance covers loss or damage to property due to natural disasters, man-made disasters (such as theft, violence, piracy, etc), collision, sinking/stranding of ships and expenses such as survey fees, etc.
  • Covers physical loss or damage to the hull and machinery which constitute the ship itself.
  • Marine insurance covers transits by water, air, road or rail, it also covers transits by registered post and courier, or any combinations of these.
  • There are various cargo clauses, each clause states the perils which are covered, Institute Cargo Clause (A) offers the widest coverage as it covers all the perils insured against.
  • Marine insurance excludes amongst other things loss or damage due to wilful act of negligence, loss or damage due to delay and loss or damage due to improper packing.

Why do you need marine insurance?

Do you send your products overseas? If so, who insures your products during the journey from your premises to the customer’s premises? Who does the contract make responsible for insuring the items being transported (terms of sale, i.e. CIF, FOB, etc)? If the customer is responsible to insure, is the level of cover within their policy adequate for your needs, in the event of a loss?

If marine cover is already in place, are your limits of indemnity and annual sendings estimates adequate? Does the policy cover you for all eventualities? Are all countries to whom you export/from whom you import noted within your policy?

Receive a quote today

Should you wish to discuss cover for the above in more detail, please do not hesitate to contact Sagar Insurances on 01282 858250, and we will be happy to deal with your queries as quickly as possible. Alternatively, enter your detail and contact us online.