A contract of indemnity known as a marine insurance policy ensures that the goods being transported from their place of origin to their destination are completely insured. Marine insurance Dubai and the UAE covers any loss or damage to terminals, cargo, ships, and other modes of transportation needed to convey goods between their origin point and their arriving point. But despite what the name might suggest, these insurance plans cover all forms of cargo transportation. To illustrate, the policy referred to as marine cargo insurance is applicable when products are being transported by air.
There are many marine insurance brokers Dubai, and you can also find many cargo insurance companies in Dubai and the UAE. But not everyone is transparent to you! Don't worry! We, at Policyhouse.com, have provided reliable marine insurance Dubai and the UAE with superb discounts and other offers for many years. Our experience in the field is our promise! Buy marine insurance online now!
The loss or damage to the commodities sustained during shipping between the origin point and the destination point is covered by marine insurance Dubai and the UAE. This insurance policy also covers hull, marine liability, and exposed commodities that are stored offshore or onshore.
Marine cargo insurance covers fire accidents, sinking, collision, derailment of land conveyance, survey fees, cost of reconditioning, jettisons, general average sacrifice salvage charges, explosion, stranding, overturning, if cargo leaves port in distress, natural calamity damage, forwarding expenses, washing overboard, and total loss of package during loading or unloading.
Here are the details of the top inclusions in marine insurance Dubai and the UAE. The insured can select from the marine insurance coverage options in accordance with the Institute Cargo Clauses (ICC), which include ICC (C) coverage for sinking, jettisoning, fire, discharge of cargo at a port of distress, lightning, derailment or overturning of a land conveyance, stranding, general average sacrifice, grounding or capsizing of a vessel or an aircraft, and collision or contact of a conveyance, vessel, or ship with any external object except for water.
Risks linked with ICC (B) are washing overboard, holding or place of storage, volcanic eruption, lightning, earthquake, sea, river, or lake entering into a watercraft or vessel, and the risks related to ICC (C). ICC (A) - All hazards, excluding those specifically excluded. Except for the exclusions indicated, ICC (Air) covers "all risks" for air freight. The ICC (War & Strikes), includes war, strikes, and other events not covered by the core ICC clauses.
The top exclusions of a marine insurance policy are malicious damage, bankruptcy, liquidation, insolvency, riots, wars, strikes, poor packaging, civil commotion, compliance with nations where locally admitted practices are recognized, and cargo to unsanctioned nations. Failure of finances and intentional damage or loss are also not covered under marine insurance Dubai and the UAE.
You can buy a marine insurance policy if you are: a seller, individual buyer, manufacturer, buying agent, import/export merchant, bank, contractor, an individual having a moving company, or freight forwarder. Import, export, inland marine insurance, marine cargo insurance, hull insurance, and freight insurance are the types of the marine insurance policy.
There are many benefits to purchasing a marine insurance policy. First of all, it serves as a financial safety net in the event of unexpected catastrophes. Add-on covers offer improved insurance against conflict, terrorism, etc. at a higher cost. It enables companies to bounce back from setbacks without having to stop working. Pleasure craft, yachts, and personal watercraft (PWC) insurance are available to independent owners. Also, a few boat insurance plans include wreck removal and salvaging without any hull coverage additional fee.
This insurance is also available in a variety of forms. Hull insurance covers the conveyance's hull and torso. It safeguards the item against harm and accidents. Goods in transit from the country of origin to the country of destination are safeguarded by a marine cargo insurance policy. A yacht insurance policy will indemnify and cover the liabilities of a sailing vessel. Choose the one that suits you best with us and buy marine insurance online now!
Is marine insurance mandatory in UAE?
Although it is not compulsory in the UAE, marine insurance is strongly advised for companies and people engaged in marine transport to protect themselves from unpredicted things.
How much does marine insurance cost?
Many variables, including the kind of coverage, the risk involved, the manner of transportation, and the value of the products, can affect the price of maritime insurance Dubai and the UAE. If you want to receive a precise cost estimate, then we suggest you request a quote from your insurer.
What should I consider before purchasing marine insurance?
You should mind the items you transport, the risk involved, the manner of delivery, and the cargo value before buying a maritime insurance policy. Kindly check the policy's terms and conditions and the insurer's reputation as well. Here, you can choose policyhouse.com without any doubt or worry. Our experience in the industry is our promise!
How do I make a claim under marine insurance?
You should notify your insurer right away if something is lost or damaged during transit, and offer them all the paperwork and proof you'll need to back up your claim. Your insurer will assist you as needed and walk you through the claims procedure. Policyhouse.com promises super-simple claims and quick and easy processing.