The premium of a marine insurance plan depends on the following factors
The nature and value of the goods which are being transported
Applicable freight incurred for transportation
Any inherent risk in the goods
The route being taken for the voyage
The type of vessel used for transportation and its construction
The destination of the goods
Political risks, riots, commotion or unrest which would impact the delivery of goods
Natural calamities which might occur – Floods, high tides, etc.
The premium of a marine insurance policy varies on a case to case basis and is not universal.
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