Marine insurance covers the damage of ships, cargo, terminals and also other means of transport by which goods are transported from the origin to the final destination. Marine insurance is required for different import and export trade projects and both parties are liable for payment of goods under insurance.
Types: Marine Cargo Insurance, Liability Insurance, Freight Insurance, Hull Insurance.
Benefits: The policy holder gets coverage for the loss or damage to the goods during the loading and unloading by this policy. It also provides coverage for the loss or damage due to the collision of two vessels.