Marine insurance covers the loss or damage caused to the goods during transit between the point of origin and destination. The insurance policy also provides coverage for the exposed goods, kept onshore or offshore, marine liability or casualty and hull.
What are the types of marine insurance?
The three most common types of marine insurance are hull, cargo, and protection and indemnity (Pɪmp;I). There is no such thing as a standard marine insurance policy and not all marine insurance companies insure against the same risks in the same type of policy.
What are 2 types of marine insurance?
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.
What is a marine insurance meaning?
Marine protection is additionally separated into three classes of protection. These are freight insurance, ship or hull insurance, and cargo protection.