Hull Insurance Hull and machinery insurance is one of the most widely required forms of marine insurance for all operational vessels. This is primarily due to the fact that if a vessel’s hull or onboard machinery and equipment are damaged, the vessel cannot operate and generate any form of income.
Cargo Insurance (goods transported by sea, road, rail, air freight, post) provides protection against all risks of physical loss or damage to freight from any external cause during shipping, whether by land, sea or air.
Total loss cover A total loss or write-off is a judgment, by the insurer, that the lost value or repair cost of a damaged property exceeds the value of its policy, resulting in what it concludes as a “total loss” or “constructive total loss”.
Machinery Breakdown Is designed to provide cover against unforeseen and sudden physical loss or damage to the machinery by any cause subject to expected risks. Machines are an integral part of all manufacturing and industrial units engaged in production of industrial/household goods.
Liability cover Is a part of the general insurance system of risk financing to protect the purchaser (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.
Container Insurance Shipping Container Insurance can be an invaluable service for those who frequently ship using shipping containers. With Shipping Container Insurance you cannot only insure the full value of your shipment, but each individual item contained within the shipping container. You’ll never have to worry again about a damaged item in your shipping container, because shipping container insurance covers each individual item to its full value.
War zone risk War risk insurance is a type of insurance which covers damage due to acts of war, including invasion, insurrection, rebellion and hijacking. Some policies also cover damage due to weapons of mass destruction. It is most commonly used in the shipping and aviation industries. War risk insurance generally has two components: War Risk Liability, which covers people and items inside the craft and is calculated based on the indemnity amount; and War Risk Hull, which covers the craft itself and is calculated based on the value of the craft. The premium varies based on the expected stability of the countries to which the vessel will travel.
Inland transit insurance Covering against all risks of loss or damage to the insured goods whilst in transit by road/rail.