Importance of Marine Insurance

RV Shipping team has has the experience and expertise providing an exceptional service.

Importance of Marine Insurance

RV Shipping team has has the experience and expertise providing an exceptional service.

We would always recommend to our customers to take out a marine insurance policy on their shipments, however considering today’s shipping landscape it is even more pertinent to ensure your cargo is covered when on the water.

The Red Sea area is one where vessels are still as risk from attacks, and in fact the ‘risk zone’ has recently expanded. Should a vessel be attacked, and the vessel were to sink with your cargo on board, without a suitable marine insurance policy the value of the cargo would be lost.

We have also recently seen a containership collide with and collapse the Francis Scott Key Bridge. In a way to recover costs from this incident the ship owners have declared ‘General Average’. In simple terms, this means that all the costs involved with the incident, estimated in the billions ($), will be shared between all stakeholders in the voyage, including shippers with cargo on board.

We can offer B Clauses + theft marine insurance policies on the vast majority of routings. Please see below for adetailed list of what can be covered:

Loss or Damage Caused by:

General Average
Both to Blame Collision
Fire or explosion
Vessel or craft being stranded
Overturning or derailment of land conveyance
Collision or contact of vessel, craft or conveyance with any external object other than water
Discharge of cargo at port of distress
General average sacrifice
Jettison
Earthquake, volcanic eruption, or lightening
Washing overboard
Entry of sea, lake or river water into vessel, craft, hold, conveyance, container, liftvan or place of storage
Total loss of any package lost overboard or dropped whilst loading onto, or unloading from, vessel or craft
Theft or Pilferage

In order to include marine insurance in your shipping quotation, all we would need is the cargo value. If you would like to add this to any current quotation, or request new rates inclusive of insurance, please get in touch via the following link: