Marine Insurance

Marine Insurance

 

Marine Cargo
It covers loss or damage to goods transported by ships, aircraft or by land.

Hull & Machinery
Marine Hull Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel which can be made from wood, steel or any other type of materials and equipment such as pulley, crane and steering wheel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler, and electricity generator.

P&I
Protection and indemnity insurance, commonly known as P&I, is a club with similarity to a marine insurance against third party liabilities and expenses arising from owning ships or operating ships as principals. It is distinct from other forms of marine insurance purchased by ship owners such as hull insurance and war risk insurance.

War
Marine insurance policy that covers war risks and is obtained either by including such risks in a standard policy (on payment of additional premium) or by buying a separate policy that covers these risks.

Yacht
The Yacht Policy covers pleasure craft, such as yachts, motorboats and sailboats. It is written to cover both the property (boat, and contents) and its liability for collisions or injuries.

 

 

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