What You Need to Know About Marine Insurance

Bad weather, storms, thunder strikes, breakdowns and other events are some of the issues in the air and sea and they can be dangerous to you if you are into the cargo business, but Marine Insurance will protect you against loss or damage of both cargo and vessel.

What is Marine Insurance?

Marine Cargo and Hull Insurance as it is mostly called is a type of insurance that caters to both goods and vessels/aircraft transported either by sea or air. The Marine Cargo Insurance provides indemnity for loss or damage of imported goods being conveyed by sea or air, while Marine Hull Insurance covers any loss or damage to vessels, yachts and their machinery.

Marine Insurance ensures that your investments are always safe. It covers you against any form of maritime peril; it covers both import and export companies and individuals against loss, theft, and damage to their goods or properties conveyed by sea or air and the damage or loss of goods when carried by road to and from the port.

At Coronation Insurance, we offer Marine Insurance well-curated to provide adequate marine coverage to different classes of people who deal with or around the sea. Our Marine Insurance includes two categories which are Marine Hull insurance and Marine Cargo Insurance.

While Marine Hull insurance caters primarily to vessel owners, Marine Cargo Insurance caters primarily to goods owners (business owners) with each plan tailored around the needs of the parties involved.

Benefits of Marine Cargo Insurance from Coronation Insurance

Marine Cargo Insurance is suitable for imported goods that are conveyed by sea or air with benefits that include:

  • Covers expenses for loss or damage to goods at sea or air
  • Covers stranded, grounded, sunk or capsized ships
  • Unlimited cover for third party property loss
  • Warehouse-to-Warehouse cover, from the time the goods leave the seller to the final place of storage.
  • Collision of ship with external object

Benefits of Marine Hull Insurance from Coronation Insurance

Marine Hull Insurance is suitable for your vessels, yachts and their machinery with benefits such as:

  • Coverage against expenses for losses or damage to vessels, yachts and their machinery
  • Liability coverage for third party property loss and bodily injury claims
  • Coverage for collision with a sister ship
  • Coverage for  piracy and violent theft of the vessel by outsiders

No matter the goods you are transporting in and out of the country either by sea or air to make profit, our Marine Insurance will ensure that the value of your goods is protected.

Visit www.coronationinsurance.com.ng to find out all you need to know and get started or call us on 0700342592742 for an instant quote.

Click the Emojis to rate