The Best Marine Insurance Coverage
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which the property is transferred, acquired, or held between the points of origin and the final destination.
The purpose of Insurance is to protect against future loss. Marine insurance covers the loss or damage of hull (Vessels as ships and boats), cargo, terminals, and other incidental losses/liability when transporting goods by which the property is transferred, acquired, or held between the points of origin and the final destination. Marine insurance may extend to road and/or rail to final destination. Water transport cause a lot of anxiety to the transporters not only because there are natural occurrences which have the potential to harm the cargo and the vessel but also other incidents and attributes which could cause a huge loss in the financial casket of the transporter. In order to avoid any loss in the interest of the transporter, it is always beneficial to have a back-up like a marine insurance.
During the budget speech of 2016, The Treasury Cabinet Secretary in 2016 announced that from 1st January 2017 customs department will not clear imported goods unless marine insurance is placed with an insurance company registered in Kenya. Our Customers will have a wide range of products to protect them from marine related risks such as damage of cargo from sea water, piracy and possibilities like cross-border shoot-outs, Storage risk, over-turning of vessel among others.
Marine cargo insurance
There are numerous risks associated with marine cargo that could result in partial damage or complete loss. Our coverage includes:
- Insures all international and local transit legs
- Covers physical loss or damage to all cargo being imported or exported around the world
Transit and related liabilities
This policy covers being moved or transported for both the owner and the carrier of the goods. Our coverage includes:
- Sea shipments