KEY FEATURES

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  Hull and Machinery

  This covers damages or loss to the vessel itself, including the hull, machinery, equipment, and fittings.

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  Removal of Debris

  This coverage is particularly relevant in cases where a vessel or its cargo has experienced a casualty or been involved in an accident at sea

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  Liability

  It provides coverage for claims arising from third-party property damage or bodily injury caused by the insured vessel.

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  Cargo/Freight

  It covers loss or damage to the cargo being transported, whether by sea, air, or land, including goods shipped by ships, airplanes, or trucks. This coverage protects against the loss of expected earnings due to the inability to deliver the cargo as intended.

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  War and Piracy Risks

  Protects against losses from warlike events (war, rebellion, revolution) and piracy. Includes damage to vessel or cargo, liabilities, ransom payments, and related expenses—especially important in high-risk regions.

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  Repacking Costs

  If the goods suffer loss or damage during transit, and repacking is necessary to preserve, protect, or salvage the cargo, the insurance policy may include coverage for repacking costs.

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  Sue and Labour

  Sue and labour coverage provides protection for costs incurred by the insured party when taking reasonable action to prevent or minimize potential damage to the insured vessel or cargo.

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  Warehouse to Warehouse Extension

  Warehouse Extension Marine insurance with warehouse to warehouse extension typically covers the transportation of goods from the point of origin (warehouse) to the final destination (warehouse), including any intermediate transits, such as sea, air, or land journeys.

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  Loading and unloading Risk

  Marine insurance covers the goods being loaded or unloaded against loss or damage caused by accidents, fire, theft, or other covered perils during the transfer process.

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  Nuclear Hazards

  In general, marine insurance policies tend to exclude coverage for damages or losses resulting from nuclear hazards. This means that if a marine vessel or its cargo is affected by a nuclear incident, such as radiation contamination or explosions, the insurance policy may not provide compensation for those specific damages.

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  Wear & Tear, Delay, or Loss of Market

  Marine insurance does not cover normal wear and tear, gradual deterioration, or mechanical breakdown from regular use. Similarly, delays or loss of market are excluded from coverage.

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  Illegal Activities & Insolvency

  Losses from transporting illegal goods are not covered. Likewise, financial losses caused by the insolvency or liquidation of the shipowner or cargo owner are excluded from coverage.