What Is Marine Insurance?
Marine insurance is an agreement between the insurer and the insured, where the insurer promises to cover financial losses arising from risks during the transit of goods or the operation of ships.
It ensures that even if goods are lost or damaged in transit due to accidents, bad weather, piracy, or other reasons — you get compensation.
Types of Marine Insurance
1. Hull Insurance
2.Cargo Insurance
3.Freight Insurance
4.Marine Liability Insurance
Benefits
✅ Protects cargo owners, shipowners, and traders
✅ Reduces financial risk in trade
✅ Builds confidence in international and domestic shipping
✅ Customizable for import/export or inland transport
✅ Required by many logistics contracts and lenders
