A Guide to Understanding Marine Cargo Insurance
Insurance is an indispensable condition and an integral part of the international cargo purchase business. The largest volume of business and the widest coverage is marine cargo insurance. The marine cargo insurance clauses are divided into two categories: basic insurance and additional insurance . Marine Insurance Coverage Basic insurance Basic marine cargo insurance is a mandatory part of marine cargo insurance. There are two types of basic insurance: general cargo insurance and special cargo insurance. The general cargo insurance is divided into three types: safety insurance, water damage insurance and all risks. The special cargo insurance is divided into two types of insurance, namely, loading and unloading tung oil insurance and refrigerated cargo insurance. In the two categories of five types of insurance, the policyholder must choose one of them as the basic insurance according to the characteristics of the goods and transportation condition...