Cargo insurance is a specialized insurance policy designed to provide financial protection for goods while they are being transported, typically by sea but also by other modes of transport. It covers a single shipment or all shipments under a continual agreement, protecting against most risks associated with the journey.
Inherent vice refers to a defect or innate characteristic of an item that results in its damage or destruction without external intervention, often excluded from cargo insurance policies.
Marine Insurance provides coverage for goods in transit and the vehicles of transportation on waterways, land, and air. It protects against losses and damage to ships, cargo, terminals, and any transport by which property is transferred, acquired, or held between the points of origin and the final destination.
Marine Insurance, Inland is a type of insurance that provides coverage against losses occurring on inland waterways and for property shipped over land by any means. It typically protects the owner and the entity to whom the property is entrusted during transit. Policy coverage can vary significantly based on terms and conditions.
Ocean Marine Protection and Indemnity Insurance provides coverage for bodily injury and property damage liability that are typically excluded under standard ocean marine policies. This insurance extends protections to wharfs, docks, and harbors, and covers costs such as removing wrecks, disinfecting, and quarantining ships.
Transportation insurance is a type of insurance coverage that protects goods and merchandise while they are in transit from one location to another, whether that takes place via road, rail, sea, or air.
Trip Cargo Insurance protects goods in transit for a single trip, covering potential risks associated with transportation.
