With the rise of global trading, marine freight or sea freight has taken the center stage. The products are transported from 1 continent to other through boats in huge containers. The cargo is composed of products such as edible things, fresh fruits, vegetables, animals, and pharmaceuticals products such as syringes, tablets, lotions, industrial raw materials and finished goods such as the automobiles, electronics and a number of different items. Covering yourself with insurance should be the foremost thing to keep in mind before buying products online.
Transporting the freight in containers isn’t just effective but also cheaper in comparison to other methods of freight transportation. But, marine freight transportation has its drawbacks, during transport, the big containers may change and drop forward particularly when the boat must negotiate massive waves.
Occasionally because of sudden weather changes the boat together with its shipment may be dropped in the ocean. There are chances of the freight being ruined when using massive cranes from the port. So as to be safe and secure one should always look at purchasing Marine freight insurance.
Annual marine cargo insurance coverage
As its name suggests that this policy covers all of the freight that has been stolen or exported during the year. This is most appropriate for individuals involved in export and import enterprise.
Single transit Marine cargo insurance
This is for ordinary individuals who prefer to get things from different nations. This covers the face value of their freight and is insured until the freight arrives at the control of the individual that has ensured the freight.
Obligation marine cargo insurance coverage
This covers the responsibility of the carriers hauling the freight for damage or loss to the freight and to the resulting consequences like loss of market value, accountability for delay etc…