Marine Cargo Insurance
Falvey is proudly the largest marine cargo insurance cover note holder at Lloyd’s of London with the highest capacity in the market.
So, what is marine cargo insurance, and what does it cover? Read on to learn more.
What is Marine Cargo Insurance?
Marine cargo insurance is a type of property policy that protects against lost or damaged goods during ocean, air, and land transit.
For instance, if your freight falls off the cargo ship, breaks while being loaded on or off a truck, or gets stolen on the railways, it has the potential to be covered under this insurance policy.
What Does Marine Cargo Insurance Cover?
Marine cargo policy provides door-to-door coverage for inland shipments and imports/exports. Coverage extends to goods impacted by physical loss or damage, theft and rough handling. It also provides coverage if your goods spoil due to a delay associated with a covered peril.
Did you know: Typically, marine cargo policies exclude spoilage coverage due to delay with the policy language and the client would need to buy-back this coverage. Falvey does offer spoilage due to delay on some risks.
While it covers a wide range of goods, Falvey’s expertise is in three main areas: general cargo, life sciences, and technology. Whether you’re shipping pharmaceuticals, electronics, or medical devices, Falvey’s marine cargo insurance helps protect your property while it moves through the supply chain.
Falvey’s marine cargo insurance also offers:
- Flexible valuations
- Drop shipment coverage
- Warehouse-to-warehouse coverage
- Exhibition/trade fairs coverage
- Salesperson samples coverage
- Expediting and extra expenses
- Fraudulent Bills of Lading
- Local policies in 160 countries
If your business transports goods via ships, trucks, planes, or trains, marine cargo insurance provides comprehensive coverage to protect your shipments against exposures. Plus, contact us today to find out more about our related loss prevention and recovery services.
