Since most of the foreign trade is served by sea transport, foreign trade insurance issues are addressed through the marine system.
Within its framework, insurance is carried out for ships, transported goods and liability insurance for ship owners.
Due to the active development of container transportation, an independent type of marine cargo insurance has appeared.

What is marine cargo insurance?
Marine cargo insurance is a type of property insurance.

It secures goods while in transit against loss or damage.
Such issues can arise from dangers associated with the navigation of the sea waterways.
The most known marine cargo insurance conditions are published by London Institute of Underwriters (Clause “A”, B”, and “C”).

What is a marine cargo insurance policy?
If you or your supplier decided to use marine cargo insurance, you have to finalize this agreement.

The marine insurance policy is issued only when the contract has been finalized and it would be legal documents of evidence of the contract.
The form of marine insurance policies has been taken from pretty old times.
The Marine Insurance policy covers the loss or damage to property caused due to:
1.Natural disasters like cyclone, earthquake, lightning, etc.
2.Man-made disasters like theft, violence, and piracy of ships.
3.Collision, overturning or derailment of land conveyance.
4.Sinking or stranding of ships.
5.Expenses such as survey fees, forwarding costs, and reconditioning costs.

What does marine cargo insurance cover exactly?
The Marine Insurance policy covers loss, partial or total destruction of cargo in the following cases:

Significant natural disasters including earthquake, tornado, storm, etc. Malicious destruction or theft of goods by people. Acts of war. Collision, overturning or derailment of land transport. Sinking or stranding of ships. Financial costs such as survey fees, forwarding costs, and reconditioning costs. Marine cargo insurance covers your goods for any loss or damage while in-transit on the ocean.

Where can I purchase marine cargo insurance?
You can buy an insurance policy from special insurance companies that are involved and specialized in the insurance of sea cargo
You can find these companies in two ways:
1. search them yourself using Google;
2. Ask the carrier company that will be involved in the transportation of goods for specific recommendations.
The second option is preferable, as the company knows the nuances and specifics of your cargo.