Indeed, oceans connect continents in the world and therefore, offer wonderful opportunities for transporting goods. However, while the ocean gives good means for exporting goods, many hazards go along with sea transport. But if you buy marine transit insurance, it will be easier to combat risks.
Risks which go with sea transport and how marine transit insurance can help :
Weather and Geographical Hazards
These include natural calamities like typhoons, cyclones, and hurricanes, and perils of the sea which pose a serious threat to the freight and can cause serious damage to your cargo vessel.
Then there are geographical hazards, other than the weather, which can harm the vessel. Who can forget the famous Titanic Ship which was harmed by the iceberg?
Read More: A Quick Guide for Getting the Right Marine Insurance Policy
To counter such risks, make sure to use modern container ships which can easily withstand natural perils with their strong steel and watertight doors. Also, your shipping company can make use of modern-day technology to detect storms.
Further, you should train your staff with the knowledge of how to navigate carefully in order to keep your transportation safe from geological hazards like icebergs, sandbars, etc. It is also advised to stay away from exporting goods via water during such conditions.
Nature is unpredictable, and therefore, even after following the above measures, it is difficult to rule out the possibility of weather hazards completely. Therefore, you should have a marine transit insurance policy which can help you by giving financial coverage to deal with losses or damages.
A marine transit insurance policy can give you coverage in the following cases –
- Earthquake, lightning, volcanic eruption
- Washing overboard
- Entry of sea or river water into the vessel, conveyance, liftman
Man-made Hazards
With man-made hazards, we mean those risks and damages which happen due to the fault of people on the ship. Many times, losses or damages occur while loading onto or unloading goods from a craft or vessels. Such types of risks arise not only with inexperienced workers but with experienced workers as well.
So, to deal with the losses or damages that arise due to improper handling, it is necessary to have marine transit insurance, which offers coverage in case of damages happen during the loading or unloading of cargo.
Packaging Hazards
Taking the above point forward, many times it happens that the goods get damaged despite the proper packing. If God forbid, such a thing happens with you and the buyer finds out that some goods are damaged due to improper packaging, he can refuse to take the delivery of goods and file a case against you. In such a situation, marine transit insurance can come to your rescue. You can reach out to your marine insurance company who will agree to cover your losses or damages which may arise due to improper packaging, provided it was not done
The list is not exhaustive, and there are other losses as well, which you might have to face during the shipping of goods.
While global business opens doors to numerous opportunities, it is essential to purchase marine transit insurance for a safe and smooth business.
How Can SecureNow Help You to purchase the right Marine Policy?
Now when you clearly understand the benefits of a marine transit insurance policy, it is time to purchase the right cover for yourself. Here SecureNow, a leading corporate insurance advisor, can help you in purchasing the right policy.
Read More: Everything You Should Know About Marine Insurance
By entering a few details about the required insurance coverage, you can generate policy quotes obtained from leading marine insurance companies in India. You would only need to compare to choose the most suitable policy and that too online, i.e., without leaving the comfort of your home.
Considering the intricacies involved in marine transit insurance, you can reach out to insurance experts and advisors at SecureNow and get all your queries solved.
Remember, you are buying marine transit insurance to secure yourself and your business financially. Therefore, it is inevitable to choose the right policy. Here, SecureNow can ease your task by connecting you with the right insurance company.
About The Author
Simran
MBA Insurance and Risk
With extensive experience in the insurance industry, Simran is a seasoned writer specializing in articles on marine insurance for SecureNow. Drawing from 5 years of expertise in the field, she possesses a comprehensive understanding of the complexities and nuances of marine insurance policies. Her articles offer valuable insights into various aspects of marine insurance, including cargo protection, hull insurance, and liability coverage for marine-related risks. Renowned for their insightful analysis and informative content, Simran is committed to providing readers with actionable information that helps them navigate the intricacies of marine insurance with confidence.
