Marine cargo insurance – The basics

In this article, we will be discussing the definition of marine cargo insurance, the kinds of marine cargo insurance, ways to avoid declaration of interest and

What is marine cargo insurance Dubai?

Marine cargo insurance means the insurance of products that are send from the country from where it is originated to the stopping place. As the name suggests, marine, you must be thinking that this is only relevant for the transportation of the goods by sea. But, this is not the case. It is applied to all the ways of transportation of items. If you are sending your goods by air, it would be referred to as marine cargo insurance.

The goods and the products should be covered for transportation by any one of the below mentioned three movements.

  1. Freight forwarder
  2. Exporter
  3. Importer

There are usually four kinds of marine cargo insurance that are as follows.

  1. Goods Insurance: Goods insurance means that if the goods are destroyed in the time of transportation, the worker would not get the goods receivable. In this case, the insurance will be given as to compensate for the damage to the goods.
  2. Hull Insurance: In this kind of insurance, if there is any damage to the vehicle, it would be covered.
  3. Marine cargo insurance: In this kind of insurance, the goods and the items that are transported gets covered.
  4. Accountability insurance: For instance, if there is an accident between two vessels like if they collide with each other and if there is any destruction caused, the accountability endured by the possessor of the vessel for the accident will be covered.

How to avoid declarations of insurance?

You can avoid declarations of insurance by the following ways.

  1. The goods should be packed in such a way that they are safely loaded and safely unloaded in the process of transportation.
  2. The goods should be packed in such a way that they are able to resist natural dangers and risks.
  3. Make sure to handle the goods very carefully and protect them from theft.

What are the kinds of policies of marine cargo insurance?

  1. Buoyant policy
  2. Travel policy
  3. Duration policy
  4. Fleet policy

You will find many medical insurance companies in Dubai. So, find one and get your insurance done.