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Commercial Marine and Cargo Insurance
Navigate the Seas with Confidence
Marine and Cargo Insurance
Protect your business and its cargo from the unforeseen perils of ocean travel with comprehensive commercial marine and cargo insurance. This specialized insurance solution safeguards your valuable assets throughout their journey, ensuring peace of mind and financial stability in the face of potential losses.
What Does the Product Cover?
This shields your goods against physical damage, loss, or theft during transportation, from origin to final destination. It covers various perils including fire, shipwreck, collision, pilferage, and bad weather.
This protects your vessel (ship, barge, etc.) against physical damage sustained during operation, navigation, or maintenance. It covers incidents like collisions, groundings, fires, and machinery breakdowns.
This covers the loss of income you experience if your vessel is damaged and rendered temporarily unusable. It compensates for the potential profit you would have earned during the repair period.
This safeguards your business against legal and financial liabilities arising from accidental damage to other vessels, property, or individuals while operating your insured vessel.
Why you need a
MBFS Commercial Insurance Broker
01
Deep understanding of your business
Our brokers dive deep into your operations, identifying potential risks and tailor cover to your specific needs. They act as an extension of your team, not just a salesperson. They identify gaps in your existing cover and propose solutions that truly address your business's unique needs. You don't simply get a generic policy. MBFS is not tied to any single insurance company, giving our brokers access to a wider range of policies and competitive rates.
02
Cost-Effectiveness and Negotiation
With access to multiple insurers, our brokers can negotiate better premiums and find cost-effective solutions that match your budget. Our brokers understand insurance jargon and policy intricacies, ensuring you get the most out of your cover without hidden costs or exclusions. They proactively review your needs and market conditions before renewals, negotiating better terms or finding more competitive options when necessary.
03
Streamlined Administration and Support
Our brokers handle the heavy lifting, from initial application to policy management and renewals, saving you valuable time and resources. When a claim arises, they become your advocate, guiding you through the process, filing paperwork, and negotiating with the insurance company to ensure you get fair compensation. They stay updated on industry trends and risks, offering proactive advice to mitigate future challenges and keep your cover relevant.
04
Long-Term Relationship and Trust
You develop a trusting relationship with your broker, who becomes a dedicated advisor understanding your business needs and evolving alongside it. Having a dedicated professional representing your interests provides peace of mind, knowing you have an expert looking out for your business's well-being. They proactively communicate about upcoming renewals, potential risk changes, and market updates, keeping you informed and involved in your insurance decisions.
Benefits of Having
Commercial Marine and Cargo Insurance
Financial Protection
Recovers the insured value of your cargo or vessel in the event of loss or damage, mitigating significant financial losses and protecting your business continuity.
Peace of Mind
Navigating international waters comes with inherent risks. This insurance provides peace of mind, knowing you are financially protected against unforeseen circumstances.
Enhanced Risk Management
Gain access to expert risk management services offered by your insurer, helping identify and mitigate potential risks associated with your specific cargo and operations.
Competitive Advantage
Demonstrate a commitment to responsible business practices and provide greater security to potential clients and partners by having comprehensive commercial marine and cargo insurance in place.
Frequently Asked Questions
What type of cargo is covered?
Most policies cover a wide range of cargo, but it's essential to discuss specific exclusions and limitations with your insurance provider.
How much does commercial marine and cargo insurance cost?
The cost varies depending on several factors like the type and value of your cargo, the size and type of vessel, the voyage route, and your risk profile.
Do I need both cargo and hull insurance?
While not mandatory, having both is highly recommended for comprehensive protection. Cargo insurance safeguards your cargo, while hull insurance protects your vessel.
How do I file a claim?
Contact your insurance provider immediately upon experiencing a covered loss or damage. They will guide you through the claim filing process.