Understanding When You Need Cargo Marine Insurance

Maritime transportation is essential for so many industries across the planet. From food to energy supplies to consumer goods, maritime cargo is vital.

Of course, shipping does come with its risks, and for that reason ā€” if your company operates in the shipping industry ā€” cargo marine insurance is paramount. Cargo marine insurance will help to protect whatever it is that you are transporting, helping it get where it’s going and ensuring that if anything goes wrong, you will be protected.

What Does Cargo Marine Insurance Cover?

The primary purpose of a cargo marine insurance policy is to protect cargo while it’s at sea. Despite innumerable improvements in navigation technology and other safety improvements relevant to maritime trade, shipping can still be dangerous. Hazards like storms, crew error, the use of new sea routes, and other factors can pose problems, which can quickly become liabilities for the company.

Cargo marine insurance will provide a level of protection for goods at sea and for liabilities relating to a spill or accident; for instance, it may provide protection in the event of a polluting spill.

Speaking with an experienced insurer can help you establish a policy to effectively protect your business and cargo.