Marine Cargo Insurance is essential for businesses engaged in the importation and exportation of goods, whether raw materials, packaging materials, spares or finished products.
This policy is mandatory for any items being imported into Kenya and is available as single voyage or annual policies.
Marine Cargo Insurance covers the risk of loss, destruction or damage to goods in transit by sea or air.
Scope of Coverage
Marine Cargo Insurance offers three main types of coverage, each providing different levels of protection
The insurance is activated when the goods leave the warehouse or place of storage named in the policy for the start of the transit and continues during the ordinary course of transit.
The coverage terminates either
Cover Benefits
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Shortage due to tearing and bursting of bags/cans, overturning, derailment
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Short delivery/non-delivery, leakage/breakage
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Theft/pilferage, contamination
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Denting/bending/chipping, rusting (standard exclusion for machinery including cars)
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Rainwater damage/fresh water damage
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Damage by extraneous substances
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Breakage of bridges/culverts
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Damage due to jerks and jolts during transit, collision with or by carrying vehicle
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Damage while handling at port of entry or exit port
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Damage while handling during loading/unloading at warehouses/intermediate stores/trans-shipment and at site, etc
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Loss while unloading process at site due to failure of crane, slings or negligence of labor, etc
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Loss or damage due to fire risk
Cover Considerations
Coverage is based on several factors
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- Type of goods being carried
- Packaging of the goods
- Mode of transportation
- Origins and destinations of goods
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Protect your business’ valuable goods in transit with Cannon General Insurance’s Marine Cargo Insurance.