Marine Cargo Insurance For The Safety Of Your Cargo
With the growth of international trading, marine cargo or
ocean freight has taken the center stage. The goods are transported from one
continent to other via ships in large containers. The cargo consists of
products like edible items, fresh fruits, vegetables, animals, pharmaceuticals
products like syringes, tablets, lotions, industrial raw materials and finished
products like the cars, electronic equipments and many other things.
Transporting the cargo in containers is not only efficient but also cheaper compared
to other ways of cargo transportation. However, marine cargo transportation has
its own draw backs, during transportation the large containers might shift and
fall overboard especially when the ship has to negotiate large waves. Sometimes
due to unexpected weather changes the ship along with its cargo might be lost
in the sea. There are always chances of the cargo being damaged while using
large cranes in the port. In order to be secure and safe one should always
consider buying Marine cargo insurance.
Marine cargo insurance provides a financial security to the
cargo which is being transported on high seas. If the cargo were to be damaged
or completely lost the insurance company will reimburses the owners of the
cargo according to the agreement of the policy. There are many types of marine
cargo insurance available and depending on the need one can always buy the
suitable cargo insurance policy.
1. Annual marine cargo insurance policy
As the name indicates this policy covers all the cargo which
has been imported or exported throughout the year. This is best suited for
people involved in import and export business.
2. Single transit Marine cargo
insurance
This is for common people who like to buy things from other
countries. This covers the face value of the cargo and is insured till the
cargo arrives in the hands of the person who has insured the cargo.
3. Liability marine cargo insurance policy
This covers the liability of the carriers transporting the
cargo for loss or damage to the cargo and also to the resulting consequences
such as loss of market value, liability for delay etc.
There are many ways through which one can get cheaper quotes
on various insurance policies. The basic thing to do when one decides to
purchase an insurance policy is to do some research on various policies out
there in the market. The best place to do such research is on the internet. One
needs to choose a website which offers services like comparison of the
insurance policy. This allows the buyer to get a very clear picture of the all
the policies provided by the top insurance brokers.
Angella Brown is an expert author on various interesting
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