Marine Insurance

This covers cargo loss, cargo vessels, terminals & transport where goods are transferred between the point of origin and final destination.

Marine Insurance

Marine insurance is a policy that covers loss or damage to ships, cargo, and other marine assets during transportation by sea or inland waterways. It protects owners against risks such as natural disasters, piracy, and collisions. Policies can cover total loss or damage to the vessel or cargo, liability for damage caused to other vessels or property, and injury or loss of life to crew members.

This cover is ideal for imports/exports like petroleum, manufacturing and agricultural inputs, electronics, pharmaceuticals, machinery, and textiles among other.

What Does Marine Insurance Cover?

Maritime Perils

These are events created by either man or God. Examples of such events are earthquakes, cargo being washed overboard, rainwater damage, piracy, vandalism and such

Extraneous Perils

Also known as incidental perils, they are caused by errors in loading, carrying and loading at the terminals. Examples are leakage, handling, rough handling and pilferage.

Additional Types Of Perils Covered

A comprehensive all risks Marine insurance policy covers loss or damage as a results if :-

Fire & Explosion
Stranding, Grounding, sinking or capsizing
Overturning or derailment of land conveyance
Collision
Discharge at port of distress
Total loss of Vessel
General average sacrifice

Jettison of cargo
Earthquake, volcanic eruption or lightning
Washing overboard
Entry of sea, lake, river water to hold or container
Total loss of package during loading/unloading
Rainwater

Malicious Damage
Breakage
Shortage
Pilferage
Theft
Piracy

Our Warehouse-to-Warehouse insurance policy covers physical loss of or damage to your goods from external causes, including the following:

The cover can be extended to cover the following at a premium to be agreed upon

Concealed damages
Storage beyond 60 days Documents required for cover placement
A copy of the bill of landing
Packing list
Supplier’s Invoices Some Common Policy Exclusions
Loss, damage, expense attributable to wilful misconduct of insured
Ordinary losses such as loss in weight or volume of insured items
Loss, damage, expense caused by insufficient, unsuitable or defective packing or preparation of goods. ‘Packing’ includes stowage in container or lift van but only when such stowage is done prior to attachment of insurance or by the insured or their servants
Loss, damage, expense from insolvency or financial default of owners, managers, charterers or operators of the vessel
Nuclear weapons risk
Loss, damage, expense caused by or resulting from strikes, lockouts, labour disturbances, riots, civil commotions or caused by any person Loss, Damage or Expense arising from:
Unseaworthiness of vessel or craft

NB – War and strikes covers are available at an additional premium

How to apply

Request a Callback

Outside of hours, request a callback for inquiries & applications.

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Mon-Fri 08.00am-6.00pm;
Sat 9.00am-5.00pm.

Visit us at our Office

Visit us at Eco Bank Towers, 10th Flr, Opp. 680 hotel.

Marine Insurance