Marine cargo insurance for shipping, also known as marine cargo insurance or ocean marine insurance, is a type of insurance that protects the goods and merchandise being transported by ship. It provides financial coverage for the loss or damage of cargo during the transit period, regardless of the cause of the loss. Marine cargo insurance can be purchased by the shipper, the consignee, or a third party with an insurable interest in the cargo.
Marine cargo insurance is essential for businesses that rely on shipping to transport their goods. It provides peace of mind and financial protection in case of unexpected events, such as storms, accidents, or theft. Marine cargo insurance can also help businesses comply with international trade regulations and contractual obligations.