btaliat
VIP Contributor
There are several polices one can decide to do when it comes to marine insurance. The policy that one wants to opt for must however be the one that will be of benefit to one.
The following are the marine insurance policies that we have :
The following are the marine insurance policies that we have :
- Voyage policy : this policy covers a particular voyage from place to another. Any deviation from the designated route will not be covered.
- Time policy : this covers the ship ad cargo for a specific period maybe a year. But if the policy expires on sea, it will be given chance of arriving to the shore.
- Mixed policy : it covers the subject matter for the voyage and a period of time thereafter.
- Constitution policy : this covers the construction of a marine vessels.
- Valued insurance : it specifies the value of the goods, and the holder of such a policy recieves specified amount in case there is loss.