If your business takes you across the seas, you’ll be exposed to risks from mother nature, misadventure and even piracy.
Such risks can prevent your commercial vessel, cargo or pleasure craft from reaching its destination, or cause costly damage during the voyage. You’ll also need to navigate a range of domestic, international and maritime laws.
Marine Insurance refers a range of insurance products which help protect your business from loss or damage to vessels and cargo. It can cover the door to door delivery of goods worldwide, by sea, road, rail and air – including their storage on the way.
Marine insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.
Marine insurance can provide valuable cover on both land and sea for:
There are different types of marine-related insurance policies – the type you choose will vary based on your specific needs. Depending on the type of policy you choose, marine insurance policies can cover:
There are exclusions. There is also often a deductible or excess and limits on cover, so check with Oracle Insurance.