There are different types of marine insurance

The fact is that every international company involves numerous risks. Especially importing and exporting goods can expose you to huge economic losses, just in case; the international shipments have been damaged or destroyed during shipping. So for the protection and safekeeping of your cargo and for a quick response and competent service for handling your claims, you need a maritime policy.

This policy meets the needs of both importers and exporters and coverage is inclusive and flexible with international shipments protected from the moment the goods leave the seller’s depot until they reach the buyer’s warehouse. However, did you know that there are different types of marine insurance? Depending on the needs, requests and specifications of the carriers, an appropriate type or types of policy coverage may be narrowed down and selected to be issued for use. Depending on the nature and size of your company, you can choose the best plan. There are several options you can choose from; the main ones are:

Cargo Insurance: Cargo Indemnity mainly focuses on the ship’s cargo and is also valid for the belongings of a ship’s passengers.

Hull Insurance: This coverage mainly covers the hull and hull of the ship along with all pieces and parts of the furniture in the ship. This type of policy is usually taken out by the owner of the ship to prevent the loss of the ship in the event of an accident.

Liability Insurance: In this policy, compensation must be paid for any liability that occurs as a result of the ship crashing or colliding due to other persuasive attacks.

Freight insurance: It provides and provides security to merchant ship companies, who are at risk of losing money in the form of shipping so that the shipment does not get lost due to an accident with the ship. This fee solves the problem of companies losing money due to a few initial events and accidents.

In addition to these, there are also various other types of policies, offered by different companies to give you the flexibility. The accessibility of a comprehensive range of marine insurance policies gives you a wide arena to choose from; this way you get the best deal for your ship and cargo. Remember that a good policy will solve your problem not only in the short term, but also in the long term.