MARINE INSURANCE
Want to Know a little about Marine Insurance? Let us tell you.
Marine insurance is a crucial resource for cargo owners and transporters, providing protection against various financial losses that may arise from the loss or damage of goods during transit.
Comprehensive Marine Insurance Solutions
When it comes to protecting your marine assets, having comprehensive marine insurance is crucial. At XINIX, we provide a variety of customised solutions to meet the unique needs of the marine industry. Marine insurance is often perceived as coverage exclusively for shipping goods by sea. However, it encompasses much more, offering protection for goods during transportation by rail, road, and air as well.
Some of the covers available
Stock throughput
Marine Cargo (imports & exports)
Hull (Commercial, fishing & pleasure craft)
Transit & Related Liabilities
Marine Liabilities
Get in touch with us today to learn more about the insurance solutions and discover how you can help protect your aviation operations.
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As this is specialised insurance, we require some information that will allow for us to setup for a meeting and setup time to understand your requirements as each business is unique.
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INSURANCE SOLUTIONS
Available Products
Transit & Related Liabilities
Transporting goods involves numerous risks for both the owner and the carrier. Therefore, it’s essential to ensure you have adequate coverage.
Goods in Transit insurance is designed for clients needing protection for local transit, covering goods transported by sea, air, road, and rail. This coverage is ideal for hauliers responsible for moving cargo, even if they do not own the goods being transported.
Stock Throughput
This type of coverage integrates the insurance provided for marine cargo, goods in transit, and stock storage into a single product.
The Stock Throughput Policy offers comprehensive end-to-end protection, beginning at the supplier’s premises, covering all modes of transportation, including any storage warehouses worldwide, and continuing through to final delivery.
Marine Cargo
Marine cargo faces numerous risks that could lead to partial damage or complete loss. Therefore, it is crucial to ensure you have adequate coverage for these potential hazards.
Hull - Commercial, fishing & pleasure craft
We recognize the extreme conditions and risks that vessels of all shapes and sizes face. Therefore, the importance of providing comprehensive coverage for these risks. The policies offer options for total loss coverage and allow for various extensions based on the age and value of the vessel.
Unexpected damage to your vessel can have devastating effects on your business, which is why policies are designed to protect fishing vessels, diamond recovery vessels, and charter vessels used commercially.
Marine Liabilities
Cover in the event that you or your employees are held legally liable.
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Marine
Marine Insurance
What is marine insurance?
What types of marine insurance are available?
Types include hull insurance, cargo insurance, liability insurance, and freight insurance.
Who needs marine insurance?
Marine insurance is essential for ship owners, shipping companies, cargo owners, and businesses involved in marine transport and logistics.
What is hull insurance in marine insurance?
Hull insurance covers physical damage to the ship or vessel itself, including machinery and equipment on board.
How does cargo insurance work?
Cargo insurance protects goods in transit against risks such as theft, damage, or loss, ensuring compensation for the cargo owner.
What is protection and indemnity (P&I) insurance?
P&I insurance provides liability coverage for ship owners against risks such as personal injury, pollution, and cargo damage claims.
What factors influence the cost of marine insurance premiums?
Factors include the type and value of the vessel or cargo, route, coverage limits, and the insurer’s assessment of risk.
Are there specialized marine insurance policies for specific types of vessels or cargo?
Yes, specialized policies can be tailored for different vessels, such as fishing boats, yachts, and tankers, as well as various types of cargo.
What is general average in marine insurance?
General average is a principle in marine insurance where all stakeholders in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency.
How can marine businesses ensure they have adequate insurance coverage?
Regularly reviewing policies, conducting risk assessments, and consulting with marine insurance specialists can help ensure adequate coverage.
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