The risks of ocean travel are as great as those in road or air travel. A marine hull insurance or yacht insurance ensures that your vessel is protected from sea-related hazards.
A marine hull insurance & Cargo insurance ensures that your vessel is protected from sea-related hazards.
Cargo insurance and marine hull insurance policies also cover the loss caused by your vessel to other boats and ships.
Cargo insurance and marine hull insurance is given out either by time or voyage. This means that you can insure your ship or yacht for each voyage.
The sum assured is not a fixed amount but as per agreed value between the insurance company and the insured.