Saturday, October 22, 2011

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 topics. To know more about the various policies why not compare marine cargo insurance yourself, from a range of top providers. For more in-depth analysis of boat insurance feel free to visit us at Boat Quote.

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