Marine Cargo Insurance
| Insurer | Outstanding Policy Features | Quote |
|---|---|---|
| Towergate Mardon and marine and boat insurance specialists, with over 30 years experience offering a true personal service. |  |
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| Noble Marine are specialist insurance brokers providing boat insurance for most types of pleasure craft based in the UK. | |
Working in the marine industry can be an expensive business. All the equipment, employees and stock can all add up, so it makes sense to be prepared. That’s why investing in marine cargo insurance is always advisable, as it means you’ll be protected against any unforeseen accidents that could occur.
Marine cargo insurance is developed specifically for those in the marine trade, and can usually offer cover no matter where you are in the world. Given that cargo can be incredibly expensive it’s wise to be completely protected. You don’t want to have to pay for any loss or damage to stock out of your own pocket, so to avoid the risk of severe financial losses make sure you’ve got a fully comprehensive policy behind you.
Although this type of insurance can be sought by the customer or the supplier, if you don’t want to have to fork out any costs if they don’t it’s wise to be covered yourself. You then have complete control over the insurance implications and don’t have to worry about someone else being in charge of it, and when you’re the one transporting the goods that can be a huge relief.
Most policies can be tailor made to suit your exact requirements, and that’s well worth considering. Everyone has slightly different needs, particularly in this area, so a one-size-fits-all policy often won’t do the job. You need to talk to your insurer to go over the specifics of your business and what you expect from the policy, and they can create your perfect insurance package to suit your needs exactly.
Luckily there are plenty of advantages to having this type of policy, not least for the financial security you’ll have. It can provide cover in the event of theft, hijacking, general losses, return shipments, and even loss or damage resulting from war or other risks including riots and strikes. Cargo legal liability will also be included, and as it’s a legal requirement that’s a definite bonus.
As with most types of insurance, there are different levels of cover that you’ll be able to choose from. These are usually broken down into three different Institute Cargo Clauses of A, B and C, with A being the most comprehensive and C being the basic level of cover. You’ll often be able to include additions into your policy as well for more all-round protection, but again it’s wise to talk to your insurer.
That’s just a brief overview of marine cargo insurance and what you can expect from it, and as you can see there’s a lot to think about. Always discuss things fully with your insurer to make sure you’re protected and you can get on with your business in confidence.