Marine insurance provides coverage for goods, cargo, and vessels during transportation over water. It helps protect businesses and individuals from financial losses due to risks such as theft, damage, or loss during transit, whether by sea, air, or land (intermodal).

Types of Marine Insurance Policies

1.  Cargo Insurance

• Covers the goods or cargo being transported by sea, air, or
• Can be single voyage (for one trip) or annual (for multiple shipments over a year).

2.  Hull Insurance

• Covers physical damage to the vessel or ship
• Protects against perils such as collisions, sinking, fire, and other accidents that damage the

3.  Protection and Indemnity (P&I) Insurance

• Covers third-party liabilities for vessels, such as damage caused to other ships, oil spills, or environmental pollution.
• Includes legal costs related to claims against the vessel

4.  Freight Insurance

• Protects the freight charges (cost of transporting goods) in case the goods are lost or damaged during transit.

5.  War Risk Insurance

• Provides coverage for risks associated with war, terrorism, or civil
• Often added to cargo and hull insurance policies for specific routes or regions prone to

6.  Marine Liability Insurance

• Covers liabilities incurred due to the transportation of goods, including damage to the environment, people, or property.

7.  Inland Marine Insurance

• Covers goods while they are in transit over land (e.g., from warehouse to port).
• Often used for high-value or specialized cargo (e.g., electronics, equipment).