Marine Cargo Insurance Malaysia
Marine Cargo Insurance
Marine Cargo Insurance is insurance for point to point shipments. It covers multi modal shipping. It covers land, sea and air shipments. And storage during that shipment.
Insurance Coverage for Marine Cargo Shipments
There are several insurance companies like AIA Insurance, RHB Insurance, Liberty Insurance, AXA or Takaful Ikhlas and many more that are providing this type of business insurance for shipping. They have different forms to fill up, prices and terms and conditions.
Marine Cargo Insurance Coverage
This goods and cargo insurance is to cover shipping goods and cargo from a specific point of origin (a warehouse in Penang for example) to its final destination (a warehouse in London for example). It covers the cargo and container shipped. The coverage is based on Institute Clauses A, B and C. These Institute Coverage Clauses (ICC) specify what are covered in the event of a damage or loss to the shipment. The duration of coverage is based on the specific shipping details that will be filled up in the forms.
Types of Damages Covered by Marine Cargo Insurance
This cargo insurance policy covers all types risks to cargo while shipping or in transit during shipping, associated with multi modal and cross border shipments. Theft, lost, fire, damage, piracy, hijacking, sinking, explosions, accidents and many more. The types of damages or risks covered, depends on the Marine Insurance plan (Institute Cargo Clauses A, B or C) clauses that you select.
Marine Cargo Insurance Premiums Cost Calculation and Prices
This cargo insurance will have three different types of baseline prices based on the Institute Cargo Clauses (ICC). Institute Cargo Clause A is the most comprehensive cargo insurance plan and covers all risks. Institute Cargo Clause B covers less comprehensive type of risks and Institute Cargo Clause C covers least type of risks.
Contact our Red Cover insurance agents to get the best coverage option and prices for your cargo insurance coverage proposal for shipping from or to Malaysia.
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