Marine Insurance
Protect Your Cargo, Vessel, and Maritime Operations with CoverBee Marine Insurance
Whether you’re shipping goods across the country or managing international exports, marine transport exposes your business to several unpredictable risks—accidents at sea, cargo theft, damage due to storms, and more. At CoverBee, we provide specialized Marine Insurance solutions tailored to importers, exporters, freight forwarders, and vessel owners to safeguard their cargo and vessels throughout the transit journey.
What is Marine Insurance?
Marine Insurance is a specialized policy that covers the loss or damage to ships, cargo, terminals, and the transport of goods in transit via water, air, rail, or road. It offers financial protection against maritime risks such as natural disasters, collisions, theft, piracy, fire, or sinking during transit.
Whether it’s raw material imports or high-value goods exports, Marine Insurance ensures that unforeseen disruptions don’t impact your supply chain or profit margins.
Why You Need Marine Insurance
● Covers your goods in international and domestic transit
● Protects against losses due to accidents, theft, or delays
● Ensures continuity in your trading operations
● Minimizes financial losses due to cargo damage or vessel downtime
● Mandatory for certain international shipping contracts (Incoterms)
Types of Marine Insurance Policies Offered by CoverBee
Cargo Insurance
Protects goods from origin to destination, including loading/unloading damages. Ideal for manufacturers, traders, and e-commerce exporters.
Hull Insurance
Covers physical damage to ships, vessels, and floating structures. Best suited for ship owners and operators.
Freight Insurance
Ensures freight charges are protected in case goods are damaged or lost in transit. Great for logistics providers and CHAs.
Cargo Insurance
Protects goods from origin to destination, including loading/unloading damages. Ideal for manufacturers, traders, and e-commerce exporters.
Hull Insurance
Covers physical damage to ships, vessels, and floating structures. Best suited for ship owners and operators.
Freight Insurance
Ensures freight charges are protected in case goods are damaged or lost in transit. Great for logistics providers and CHAs.
Liability Insurance
Covers third-party liabilities such as damage to other ships, ports, or personnel due to your vessel’s actions.
Liability Insurance
Covers third-party liabilities such as damage to other ships, ports, or personnel due to your vessel’s actions.
Voyage & Time-Based Policies
● Voyage Policy: Covers goods or vessel for a single journey
● Time Policy: Covers vessel operations for a fixed duration (e.g., 3 months, 1 year)
Voyage & Time-Based Policies
● Voyage Policy: Covers goods or vessel for a single journey
● Time Policy: Covers vessel operations for a fixed duration (e.g., 3 months, 1 year)
Add-On Covers for Extra Protection
War & Strikes Cover
Safeguards against damage due to war, riots, and civil unrest
Contingency Insurance
When buyer/seller fails to insure as per agreement, this covers your interest
Inland Transit Add-On
Ensures protection even when goods are moved to/from ports via road or rail
Port Liability Insurance
Covers liabilities while loading/unloading cargo at ports
Piracy Coverage
Protection from hijacking or theft on high-risk international routes
Who Should Buy Marine Insurance
● Exporters and Importers
● Logistics Companies
● Custom House Agents (CHAs)
● Freight Forwarder
● E-commerce businesses with overseas suppliers
● Manufacturers shipping raw materials or finished goods
Key Benefits of Marine Insurance from CoverBee
● End-to-end transit coverage – door-to-door or port-to-port
● Affordable premiums with comprehensive inclusions
● Instant digital policy issuance for exporters/importers
● Customized solutions for bulk shipping, perishable goods, or fragile cargo
● Strong claim support for faster settlements
Marine Insurance FAQs
Marine cargo insurance covers loss or damage due to fire, theft, natural calamities, collisions, overturning, jettisoning, loading/unloading errors, and piracy.
It’s not always legally required, but most international trade contracts (Incoterms like CIF or FOB) mandate either buyer or seller to insure goods in transit.
● Hull Insurance covers the vessel or ship itself.
● Cargo Insurance covers the goods being transported.
You can choose between:
● Voyage Policy – for one-time transit
● Open Policy – for regular shipping needs (annual coverage for multiple shipments)
● Marine Insurance Policy
● Invoice, Bill of Lading, Packing List
● Survey Report (if applicable)
● Photos of damaged goods
● FIR (if theft or piracy involved)
Premium is based on type of cargo, packaging, voyage distance, value of goods (sum insured), mode of transport, and risk profile.
It’s a maritime principle where if a part of cargo is deliberately sacrificed to save the rest (like jettisoning), all parties contribute to the loss proportionately.
Yes, you can add inland transit extensions to your marine cargo policy to ensure protection throughout the entire journey.
Yes, Marine Insurance extends to cover all forms of cargo movement—via sea, air, rail, or road—as long as it is part of the shipment route.
Delays and rerouting due to natural disasters or port closures may be covered, depending on the type of policy and endorsements selected.