Marine Cargo Insurance

Secure Your Shipments with Reliable Coverage

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Dubai: +971 4 323 1111

Abu Dhabi: +971 2 626 66 69

Bahrain: +973 1751 17 77

Qatar: +974 403 18282

Kuwait: +965 229 51975

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8 AM to 5 PM, Sunday to Thursday.

What is Marine Cargo Insurance?

Marine Cargo Insurance from Nexus Insurance Brokers is a critical risk management tool that financially protects cargo as it moves locally and globally by ship. This coverage limits the financial loss due to many types of perils that pertain to cargo in transit by land, sea, or air. Companies that have international business can have not only their assets protected but be able to continue their operations even when a surprise comes along which impacts them adversely.

This coverage offers important monetary protection to importers, exporters, manufacturers, or freight forwarders and is critical for products that are in transit. By covering shipments from these risks, marine cargo insurance minimizes the financial impact of losses, theft, and damages caused by different events including, but not limited to, piracy, flood, accident, and political conditions. That’s not all. From the UAE, Bahrain, Qatar, Kuwait, and Jordan, we also offer investment planning and pension plans to those who enjoy strong protection, with tailor-made solutions to protect them in these important Middle Eastern markets.

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Why Your Business Requires Marine Cargo Insurance?

While in transit, international shipping of goods encounters different risks. Loss, theft, or damage of goods without appropriate insurance can create significant financial liabilities for companies, potentially impacting supply chains and profitability. Marine Cargo Insurance covers most of the following risks:

Plunder or theft, especially in areas with a high danger
Damage caused by natural disasters, such as earthquakes, floods and typhoons.
Incidents like accidents or groundings that occur during loading, unloading, and transport.
Pirate, piracy, piracy interference or Robbery, especially with imminent Maritime Routes.
Perishable goods deteriorate while waiting in the halls for customs inspections.

Key Coverage Options for Marine Cargo Insurance

All-Risk Coverage

This one’s the full package. It covers pretty much everything. Fire, theft, water damage, and accidents, unless the policy says otherwise. If you want maximum peace of mind while your cargo’s in transit, this is the way to go.

Named Perils Coverage

Fires, theft, explosions, and extreme weather are only what’s listed in the policy. It’s a solid fit for businesses shipping through safer routes or dealing with less risky goods.

War & Strikes Coverage

War & Strikes Coverage guards against damage or loss brought on by war, civil unrest, strikes, and other political risks for shipments traveling through high-risk or politically unstable areas. Businesses that operate in conflict-prone locations need this coverage.

Theft & Pilferage Coverage

This protects against the loss of cargo stolen while stored in a temporary facility. This is particularly important for companies that sell expensive items susceptible to theft, such as electronics.

Loading/Unloading Damage Coverage

This coverage considers the dangers of handling items when loading and unloading. Coverage for unintentional cargo damage during these phases provides monetary security against handling mistakes.

Contingent Cargo Insurance

Contingent cargo insurance offers short-term coverage for goods in urgent transit while main insurance policies are being finalized. This is especially helpful for companies that need to secure goods right away.

How Does It Work?

Risk Evaluation and Determination of Coverage

The first phase is to assess the value of the cargo, the mode of transportation (land, sea, or air), and the hazards involved with the shipping route. Thanks to our risk analysis, we can suggest the appropriate coverage—All-Risk, Named Perils, or a mix of the two.

Calculation of Premiums

Value of cargo: Premiums are usually greater for higher-value shipments.

Shipping route: Premiums may go up in areas with more risk considerations (such as areas prone to piracy).

Mode of transportation: Sea freight often has cheaper rates than air freight.

Type of products: Specialised cargo, including delicate or perishable goods, may need more protection, which raises rates.

Procedure for Claims
Nexus Insurance Brokers guarantees a quick and easy claims procedure in the case of a loss or damage during transit:

Instant notification: Customers are required to provide us with the shipping information and incident report as soon as possible.

Loss assessment: Our staff collaborates with the client to ascertain the full degree of the damage or loss.

Settlement of claims: Our goal is a speedy claims payout that includes the cost of any associated expenses and the value of the lost or damaged goods.

Help with Claims

We provide round-the-clock claims assistance to help you navigate the procedure and guarantee a prompt payout. Our team works directly with insurers to speed up the reimbursement procedure for cargo-related losses.

Industry-Specific Marine Cargo Insurance Solutions

Manufacturing & Import/Export

Machinery, finished goods, raw materials, Nexus has got it covered. For manufacturers and import/exporters, we help keep the supply chain running smooth, even when things get messy. Delays? Disruptions? Our coverage steps in before things get beyond control.

Retail & E-commerce

Lost packages, damaged goods are every retailer’s nightmare. Especially when you’re shipping high-value items across borders. We help e-commerce and retail brands stay ahead of those risks, so they can protect their stock.

Pharmaceutical & Chemicals

Shipping chemicals and pharma products is not something that should be done lightly. We’re talking sensitive commodities, hazardous materials, temperature swings, tight regulations. Our marine cargo insurance is built for it, helping keep products safe and compliant every step of the way.

Automotive & Heavy Equipment

Big machines, bigger risks. Whether it’s auto parts or massive equipment, international shipping can be critical. That’s why we offer tailored coverage to keep your cargo safe, no matter how heavy the haul.

How to Get Marine Cargo Insurance?

Get Started

Give specifics about the shipment, such as the kind of cargo, the manner of transportation, and the shipping routes.

Consultation & Customization

Our staff collaborates with you to tailor coverage to your company's requirements.

Policy Finalization

Your shipments are insured and guaranteed complete protection once your policy is in effect.

FAQ

Is it compulsory to get insurance for marine cargo?

Insurance is not required by law, although it is strongly advised. It offers protection against significant monetary damages in the event that cargo is stolen, lost, or destroyed during transit.

What risks are covered by a standard marine insurance policy?

Theft, natural disasters, ship-related mishaps, fires, cargo losses, damages, and perhaps piracy and military threats are all covered by a conventional insurance, subject to further conditions.

Do the loading and unloading phases fall under the coverage?

Yes, most policies provide cargo insurance during this process. Since the products are more susceptible to mechanical damage, this stage is essential.

Can you get insurance for cargo moved by land or air?

Yes, but you'll need a different kind of policy. One made for land or air transport. Marine insurance only applies to shipments that travel by sea or that use a mix of methods where sea routes are part of the trip.

What affects the price of cargo insurance?

Several things play a role. These include the kind of cargo, the route it's taking, how it’s packed, how much is being shipped, how risky the trip is, and what kind of coverage you pick. How often you ship and the total amount moved also matter.

What do you need to get the policy issued?

You’ll usually have to provide some key documents. These are a commercial invoice, a packing list, transport papers (like a bill of lading), and info about what’s being shipped and where it’s going. You also need details about who’s sending and who’s receiving the cargo.

Get in Touch with Us Today!

Nexus Insurance Brokers offers many maritime cargo insurance alternatives to safeguard your goods during transportation. Our tailored solutions will protect your business against the financial risks associated with international shipping, whether you are moving raw materials, electronics, or sensitive equipment.

Marine Cargo Insurance