Why You Need Marine Cargo Insurance

Modern communications technology has increased international trading capacities now more than ever. Yet the dangers of damaged or lost merchandise remain. You need marine cargo insurance if your merchandise travels across international waters.

How Marine Cargo Policies Work

Marine insurance covers merchandise and cargo vessel damage or loss as they travel from point A to B and everywhere in between. Coverage under a marine cargo policy can be defined by a set length of time, usually in the form of a year-long policy, or the merchandise’s journey between destinations. Additionally, your business’s unique needs dictate the insurance policy’s terms. Some policies can cover losses due to extenuating issues such as unstable storage conditions, civil upheavals or even war.

Who Marine Cargo Policies Benefit

Many different entities are eligible for a marine cargo policy. You likely qualify for marine insurance if you fall under one or more of the following categories:

  • Wholesalers
  • Global corporations
  • Manufacturers
  • Retailers
  • Private and public companies

Insurance companies offering marine cargo policies will require information about your company, such as merchandise type, origin and destination. Then, they can offer you a quote. It’s best to seek quotes and coverage information from multiple companies to ensure you get the best deal possible.

Safeguard your international business endeavors by investing in marine cargo insurance.