Insurance For Shipping Container Operations Businesses

1. Marine Liability Insurance

Marine liability insurance is designed to cover any legal liabilities associated with accidents and losses while transporting goods by sea. This type of insurance is essential for businesses that are using shipping containers and vessels as it can provide them with protection should any unforeseen events occur. Some of the most common occurrence’s marine liability insurance can cover include 

• Accidents - If an accident occurs while the goods are in transit, marine liability insurance can help cover the costs of any resulting damages. For example, if a vessel sinks or is damaged by an act of piracy, the policy holder can be reimbursed for any losses. 
• Pollution - Marine liability insurance can also cover costs associated with pollution should an accidental spillage occur while transporting goods.
• Storm damage - Marine liability insurance can provide coverage for any losses incurred due to unexpected storms or weather conditions while in transit.
  

2. Cargo Insurance

Cargo insurance is a type of policy designed to protect the goods that are being transported by sea. It’s essential for businesses who use shipping containers and vessels as this coverage can provide them with financial protection and peace of mind. Some of the most common occurrences cargo insurance can cover include

• Damage- If goods are damaged while in transit, cargo insurance can provide coverage to help offset any losses incurred. 
• Theft- Cargo insurance can also provide coverage for instances where goods are stolen during transport. 
• Non-delivery- In cases where goods fail to arrive at their destination, cargo insurance can provide coverage for any losses incurred.
  

3. Hull Insurance

Hull insurance is designed to cover any damage caused to a vessel or its contents while in transit. This type of insurance can be particularly beneficial for businesses that own and operate their own vessels as it can provide them with coverage should any unexpected incidents occur. For example, if a vessel is damaged due to an accident or bad weather conditions, the policy holder can be compensated for any losses incurred. Additionally, hull insurance usually covers any legal costs associated with the incident as well as repairs to the vessel or its contents.

4. Product Liability Insurance

Product liability insurance is designed to cover any potential liabilities associated with the goods being shipped. This type of insurance can be particularly useful for businesses that are shipping hazardous materials or sensitive equipment as it can provide them with coverage should something go wrong during transit. For example, if a product is damaged due to an accident or faulty packaging, the policy holder can be reimbursed for any losses as well aslegal fees associated with the incident.