Marine Cargo

Marine cargo insurance can protect businesses who ship and receive goods via sea. With globalization, supply chains extend worldwide and becomes more complicated, increasing the risks of loss of damage during shipment. A marine cargo policy can protect your business from not only the loss or damage from the delivery and storage of goods, but also the loss or damage of the vessels and cargo.

Essentially, marine cargo insurance safeguards your goods financially. It covers the losses and damages caused to ships, cargo or any other types of transportation by which the goods have been shipped. It also takes care of any financial implications should the damage is caused by natural disasters such as earthquakes, tsunami, floods and more. Moreover, man-made calamaties is also covered unless stated otherwise in the policy.

Technology has helped modernized a number of industries and in turn, has helped the world become a safer and better place. However, transportation is one of the few sectors that has been slow in taking advantage of technology. Goods are notorious for breakage during trasportation which cause tremendous financial ramificiations. Hence, considering the risks that exist, marine cargo insurance is highly advisable as it can help you financially in case of loss or damage to your goods during transit.

If your business requires the following, then it is recommended to consider Marine Cargo Insurance as part of your protection plan:

• If your business ships cargo overseas and risk losing revenue through loss or damage of products.
• If your business could be liable for your shipment due to causing damage to others.

The cost of a marine cargo policy is dependent on a number of things. The following are some of the factors that are taken into account when determining the price:

• Nature of goods being transported
• Maximum value of goods on any on conveyance
• Types of transport used
• Location of where the goods are being shipped from and to
• Theft attractiveness of goods
• Quality of the style of packaging
• Claims history

At CHAZ, we have a team dedicated to all marine insurance, handling details of all shipments. Moreover our unparalleled knowledge in the sector and exceptional relationship with insurance carriers can be taken advantage to your benefit.

The content provided is for informational and educational purposes only. The coverage written may change without notice and may not be applicable to all situations and policies. Terms, conditions and qualifications are also subject to circumstance, supplementary material and underwriting. CHAZ Insurance Brokers Ltd. is not liable for any discrepencies should there be any. For more information, please contact us via the enquiry form below.