Marine Insurance is an insurance policy for importers and exporters who transport their goods & services and cargo from one place to another via sea. Marine Insurances Policy covers the loss and damage of cargo in ships. And also accidental damage of small craft, personal ski boats, yachts and sail boats.
Need of Marine Insurances:
Marine Insurances is a must need policy for ship owners, importers, and exporters. If any incident happens during the transport of their cargo via sea. Despite following all the safety rules & regulation sometimes losses and damages arise due to theft, piracy, destruction of cargo and natural hazards on the sea. Marine Insurance Policy provides complete financial coverage for losses suffered during the transport & storage of the cargo.
Therefore to avoid any such loss or damage, it is good to buy a Marine Insurances policy. Always being prepared is the only way out.
In the event when your cargo or goods destroyed, damaged or lost, it becomes important to file a Claim with your Insurer Company. The Insurer will check out all the aspects of your Marine Policy and cover all the damage or loss.