Marine Cargo Insurance is coverage against loss of or damage to in-transit cargo over waterways, land, and air. Marine Hull Insurance is insurance protection against loss of or damage to a ship. Aviation Insurance is insurance coverage for aircrafts and for the damage, injury, or loss of life.
Marine Hull insurance provides protection for the ship or vessel's hull which are as follows:
- losses due to the total loss of the vessel or expenses due to repair or damages to the vessel's hull, machinery, or equipment
- losses due to the vessel being missing
- vessel's share in losses, expenses, and contribution allowed in general average
- necessary and properly incurred expenses for the salvage of the vessel
What are the information/documents needed for Marine Cargo, Marine Hull, and Aviation Insurance?
- Assured’s Name
- Voyage route
- Frequency of voyage
- Type of cover to be applied – cargo, hull, or aviation
- Details of vessel/aircraft
- Conveyance – land (truck), sea (ship), air (plane)
- Geographical limit
- Sum insured
- Mortgage, if applicable
- Loss history
- Broker of Record (BOR) – form will be provided by Trinity