subject: Marine Insurance For Maritime Business [print this page] Risk is a part of everyday life and quite unavoidable. Nobody can say in front of time when an unwelcome event may occur or how severe the damage may be. Insurance brings security against such damages. It protects us from uncertain risk and losses. Business Insurance ensures businesss smooth operation by compensation for future financial losses.
Insurance is very important for all kind of businesses but it is highly important for highly unsteady marine businesses. Marine Insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
Marine Insurance can be of following types:
1.Cargo Insurance : Cover for all Importers and Exporters of raw materials and/or finished products. Protection for cargoes of every description, including perishable goods, , Timber, Scrap, Agricultural Products etc.
2.Onshore and Offshore exposed property insurance : Port Authority Liability, Equipment and Property Insurance. This insurance covers handling equipment, fixed property, port craft, business interruption.
3.Hull Insurance: Marine Physical Damage Insurances and Protection and Indemnity Risks including Freight Demurrage and Defence for Hull and Machinery and War Insurances
4.Private Yacht Boats and Boat Insurance. Insurance of pleasure craft is generally known as 'yacht insurance' and includes liability coverage. Yacht insurance covers against Racing risks and waterskiing etc. May also include cover for vessels for cruising ranges overseas. Bare boat and skipper charters.
If you are a marine business and looking for a reliable marine insurance company, Everard Insurance is the best. Everards have traded as an independent Insurance Brokers since 1969. They specialise in marine and related general trades insurance.
by: Dean Bower
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