{"id":1276,"date":"2017-06-30T14:35:20","date_gmt":"2017-06-30T14:35:20","guid":{"rendered":"https:\/\/pamstaging.securenow.in\/insuropedia\/?p=1276"},"modified":"2026-02-07T16:31:50","modified_gmt":"2026-02-07T16:31:50","slug":"what-is-marine-insurance","status":"publish","type":"post","link":"https:\/\/securenow.in\/insuropedia\/what-is-marine-insurance\/","title":{"rendered":"What is Marine Insurance?"},"content":{"rendered":"
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Marine insurance covers<\/a> the losses or damage caused to ships and terminals or to any mode of transport of cargo used to transfer, acquire, or hold goods between different points of origin and the final destination. The term may also apply to inland marine transit<\/a> but usually using the context of ocean marine transportation. Marine insurance is important for transporters and shipping companies because it helps to lower the financial loss due to loss of cargo.<\/span><\/p>\n

Through Marine insurance shipowners and other transporters can claim cover for damages in case of a mishap. Sometimes, despite following all safety regulations, losses or damage arise from consignments or the ship itself. Along with natural hazards like <\/span>sea perils<\/span><\/a><\/span>, which have the potential to impact the cargo and vessel, there are other incidents that could also cause a major financial loss to the transporter. For instance,\u00a0 piracy and hostile shootouts are prevalent when it involves water transportation, and therefore, to avoid any such loss or damage, it is in the interest of the transporter to buy marine insurance.<\/span><\/p>\n

Features of a marine insurance policy \u2013<\/b><\/h2>\n