Marine Cargo Insurance

Marine Cargo Insurance

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Moving cargo from one place to another whole over the world by air, sea or inland transit is very risky that’s why you need Marine Cargo Insurance

Type of Covers: Marine Cargo Clauses

1.Clause A (All Risks)
Covers everything except listed exclusions

2.Clause B or C
Covers only those incidents specifically listed

Risks	Clause B	Clause C
Fire or explosion	Yes	Yes
Vessel or craft being stranded, grounded, sunk or capsized	Yes	Yes
Overturning or derailment of land conveyance	Yes	Yes
Collision or contact with any external object other than water	Yes	Yes
Discharge of cargo at port of distress	Yes	Yes
Earthquake, volcanic eruption or lightning	Yes	No
General average sacrifice	Yes	Yes
Jettison	Yes	Yes
Washing overboard	Yes	No
Entry of sea, lake, or river water	Yes	No
Total loss of any package lost overboard or dropped whilst loading or unloading from vessel	Yes	No

Yes: Covered -- No: Not Covered

Typical Policy Inclusions

Marine Cargo Clause A provides coverage for:
1.Coverage for the transit of goods from warehouse to warehouse
2.Coverage for loading and unloading risks
3.Coverage for General Average losses and General Average Contributions
4.Coverage for the risk of war, strikes, riots and civil commotions
5.Coverage for risks of theft, pilferage and non delivery

Principal Exclusions

Marine Cargo Insurance does not cover:
· Ordinary leakage, loss of weight / volume, wear and tear or inherent vice
· Delay, loss of market or consequential loss
· Insufficiency or unsuitability of packing or preparation
· Mechanical, electrical or electronic breakdown or malfunction where no external evidence exists of damage from an insured event
· Rusting, Oxidation, Discoloration, Contamination where no external evidence exists of damage from an insured event


Warehouse to Warehouse

Duration of the Marine Insurance Policy covers transit of goods from warehouse to warehouse as outlined below:

Insured Value

Under Marine Cargo Policy, you may insure CIF+10%
•Cost
•Insurance
•Freight
•10% anticipated profit

Rating Factors

Rate for Marine Cargo Insurance is ranging from 0.1% to 0.2% It however considerable under following factors:

-Kind of Goods / Cargo: general cargo, machinery, etc
-Method of Packing: FCL or LCL
-Type of Vessel: Steel Vessel, TB/BG etc
-Voyage: domestic or overseas
-Terms & Conditions: Clause A, B or C


How to Insure?

It provides Single Voyage or Monthly Declaration
It simply to provide info or documents i.e. copy of Bill of Lading, Invoice and Packing List

For inquiry or to obtain a Quote
Please call me at +628128079130
Or email: imusjab@qbe.co.id


by IMAM MUSJAB at http://ahliasuransi.com/