Perils of the sea in marine insurance include extraordinary forces of nature faced by maritime ventures during the voyage. Broadly speaking, ‘peril of the sea’ covers damages to the ship during the voyage by the Acts of God. It includes those accidents or casualties which do not happen due to the free will of a […]
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What is the Meaning of Free on Board in Marine Insurance Policies?
Marine insurance policies play an important role by covering you against various losses or damages which may arise during the transportation of goods. While transporting goods, there is a free onboard term that should catch your attention as it will affect the terms & conditions of your marine insurance policies. Free onboard or freight on […]
Who can buy Marine Insurance?
Buyers can take this policy, as well as, sellers, import/export merchants, contractors, banks—or anyone engaged in the import and export of goods or transportation of it within the country. However, there are different types of policies, included in this policy like hull insurance which is beneficial for ship owners. Cargo insurance is advantageous to the […]