Relevance of Marine insurance for Businesses

Businesses involved in transporting goods internationally or within the country need a marine insurance policy to

Marine insurance for business

  • Safeguard the financial loss which is incurred when the goods are damaged or destroyed during transit
  • Maintain the profitability of the company
  • Protect the business from sudden financial setbacks

Why should business owners buy a marine Insurance policy?

Marine insurance for business 2

  • Carriers, by law, are not responsible for many common causes of loss that occur in transit …to check section 10b of the carrier’s act,
  • If business owners leave the insurance up to other parties when importing and exporting, they run the risk of not being properly protected.

Marine Insurance for business 3

  • Failure to get cargo insurance when a shipper is contractually obligated to do so can not only subject the shipper to financial loss if there is loss or damage to the goods, but non-compliance with the terms of the contract with the buyer can lead to loss of sales and legal problems.

Every year, catastrophic losses happen that affect many business owners. Those affected without cargo insurance, deeply regret their decision not to get insured.

 

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