Why do I need Marine Cargo Insurance?
Marine Cargo insurance is to limit your risk exposure to financial loss due to damage/ loss of goods during marine transit. Shipping goods via sea or air is risky. Goods may be damaged or completely lost while on their way to you or your customer. Marine Cargo Insurance provides excellent protection for your goods should they suffer damage or loss. This safeguards your revenues, and ensures you have the cash flow to provide replacement goods. Replacing damaged or lost goods in transit protects you from lawsuits filed by unhappy customers. In certain circumstances, marine cargo insurance may also be compulsory if the shipment is financed by a bank.