NAVIGATE THE WAVES OF UNCERTAINTY WITH MARINE INSURANCE

From hull damage to liability claims, our comprehensive coverage options ensure that your assets are well-protected at sea.

ENSURE THE LONGEVITY OF YOUR MACHINERY WITH HULL AND MACHINERY INSURANCE

It's important for vessel owners to have hull and machinery insurance to safeguard their assets and mitigate financial risks associated with operating maritime activities.

TRUSTWORTHY PROTECTION FOR YOUR CARGO WITH CARGO FREIGHT INSURANCE

Leaving No Risk Behind – Power Up your Cargo with Marine Insurance.

STAY PREPARED FOR UNFORESEEN EVENTS AT SEA WITH MARINE INSURANCE

Don't let uncertainties sink your business : Get Marine Insurance today!

MITIGATE FINANCIAL LOSSES DURING LOADING AND UNLOADING WITH MARINE INSURANCE

Go beyond standard marine insurance - Ensure full coverage during loading and unloading processes with our specialized insurance.

KEY FEATURES

  • Hull and Machinery

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

  • 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.

  • Liability

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

  • War and Piracy Risks

    This type of coverage protects against losses or damage caused by acts of war, including hostilities, civil war, rebellion, revolution, or any other warlike operations. It may cover the vessel, cargo, and related liabilities arising from war-related incidents. Piracy risk coverage provides protection against losses resulting from acts of piracy. It typically includes ransom payments, costs associated with hostage situations, and associated expenses incurred during piracy attacks. This coverage is especially relevant in regions where piracy incidents are more prevalent.

  • 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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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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What you need to know about Marine Insurance Policies?

1. What is Marine Insurance?

Marine Insurance is a type of insurance policy that provides coverage for loss or damage to ships, cargo, terminals, and any transport-related property or activities.

2. Who needs Marine Insurance?

Marine Insurance is typically required for businesses involved in shipping, transportation, and logistics. However, it can also be useful for individuals who own boats or yachts.

3. Is Marine Insurance Mandatory in UAE ?

Marine insurance coverage is not a mandatory requirement for maritime businesses in the UAE. However, purchasing marine insurance will ensure to protect your company from financial liabilities and damage to goods.

4. What does Marine Insurance cover?

Marine Insurance policies can vary, but they generally cover loss or damage to the vessel, cargo, or other property being transported. They may also cover liability for damage to third-party property, personal injury, or pollution caused by the vessel.

5. What types of Marine Insurance are available?

There are several types of Marine Insurance policies, including Hull Insurance, Cargo Insurance, Protection and Indemnity (P&I) Insurance, Pleasure Craft, Marine Liabilities including Hauliers Liability, Freight Forwarder’s Liability etc.

6. How much does Marine Insurance cost?

The cost of Marine Insurance can vary depending on several factors, such as the value of the vessel or cargo, the route and destination, and the level of coverage required.

7. How do I purchase Marine Insurance?

You can purchase Marine Insurance from insurance providers in the UAE. It's recommended to compare policies and prices from different providers before making a decision.

8. What should I consider when buying Marine Insurance?

When buying Marine Insurance, you should consider the level of coverage required, the reputation of the insurance provider, and the exclusions and limitations of the policy.

9. What do I do if I need to make a claim?

If you need to make a claim, you should contact your insurance broker as soon as possible and provide all the necessary information and documentation. The provider will then investigate the claim and determine if it's covered under your policy.

10. How to submit a marine insurance claim ?

The process of submitting a claim involves reporting the incident or sending a ‘Notice of Loss’ to the responsible parties. The next step is reporting the claim and document submission, following which the loss and damage incurred will be assessed.