Marine Policies
We have two types of policies under Marine Policy and they are Marine Cargo Policy and Marine Hull Policy.
Marine Cargo Policy
Marine Cargo Policy is issued to provide indemnity for loss or damage to goods being conveyed by sea, air, into or outside the country. The cover provides indemnity to the insured in the event of total or partial loss of the goods while in transit.
Marine Hull Policy
Marine Hull Policy is issued on vessels and yachts to provide indemnity for any loss, damage or liability that may arise from their use. The scope of this coverage provides an “all risks” or total loss only while the policy usually carries a deductible of 10% of the value of vessels/ quacks