Marine Cargo Insurance
Many companies transport products across oceans and depend on marine cargo insurance to help protect them from financial harm when cargo is lost or damaged in transit.
Contact Casey Insurance Group in Plantation, Florida, to learn more about how marine cargo insurance can help your business remain financially secure.
What Is Marine Cargo Insurance?
Marine cargo insurance is a business insurance policy designed to provide financial protection for cargo in transit while it’s on the ocean. Shipping products involves risk, and marine cargo insurance can help provide valuable protection when your business depends on the supply chain to deliver products safely.
What Does Marine Cargo Insurance Cover?
You have two main options for marine cargo insurance. Your agent may recommend that you purchase one of the following:
Open perils marine insurance may provide coverage for risks not explicitly included in the policy declarations.
Named perils marine insurance provides coverage for risks listed in the policy declarations only. Common coverages include collision, stranding, sinking and burning.
Marine cargo insurance may be appropriate for multiple shipments during a specific time frame or for a single shipment. Your marine cargo insurance policy provides coverage for the value of the cargo. It may also cover other losses suffered by your company if the cargo does not reach the destination.
Some marine cargo policies have geographical restrictions, so work with your agent to get a policy most likely to meet your needs.
Benefits of Marine Cargo Insurance
Shipping goods across an ocean can be risky. Marine cargo insurance helps safeguard against financial losses your company may suffer if the goods are lost or damaged in transit.
How Much Is Marine Cargo Insurance?
Insurers set marine cargo premium rates using information about your company, the covered goods and your policy. The type and value of cargo being shipped, your claims history and your policy’s limits impact your marine cargo premiums.
Your agent can help you understand your coverage options and get a personalized quote to help you get the best possible premium.
Contact Us Today
Contact Casey Insurance Group today to learn more about how marine cargo coverage can help provide your company with financial protection when you ship goods across oceans.