It is one thing to protect your business assets while they are safely tucked away in a storage warehouse, but what about businesses that ship their products across seas to ports around the world? Is it possible to protect a business in that situation?
Ocean Marine Insurance protects your goods as they are shipped across the globe, either by sea or by air, and can cover many perils from inclement weather to theft.
OnMarket Insurance Associates can customize a policy for your business that covers both the loss of products in transit and the liability from loss or damage to property in your care from another vendor.
Is there a difference in coverage for a business that ships things frequently versus one that only has an occasional high-value shipment?
Absolutely! In fact, our team prides itself on our ability to create the perfect custom policy to fit your needs at competitive prices. Companies that frequently ship products will buy annual policies to cover them on a more permanent basis for total goods shipped, while companies that ship goods infrequently can insure individual shipments.
What happens once my shipment reaches its destination, is it still protected?
It is important to note that ocean marine cargo insurance ceases to cover your products once they have made it to their destination unless the policy contains coverage for inland transit (also referred to as inland marine insurance). However, our complete insurance policies will have another coverage option ready to kick-in once your cargo is on land.
Will this policy cover my shipment no matter what country is the final destination?
Unfortunately no, some exclusions will be found for countries banned from doing business with companies in the United States, such as North Korea. So as much as we would like to help you with all of your shipment needs, some things we can’t do quite yet.