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Marine insurance isn’t just about sinking ships or lost cargo, as it covers a wide range of areas including small pleasure craft to large ships and tankers, docks and marinas as well as cargo, third party liability, protection and indemnity. Despite its wide scope, marine insurance is a specialist area and clients need expert advice to ensure their marine insurance does what they expect and delivers the protection they seek.
At Axis Insurance, we have specialized knowledge and experience in this potentially complex area. We’re able to create policies for both commercial enterprises and private pleasure craft. We’re able to offer competitively priced cargo insurance.
Benefits of Commercial General Liability Insurance coverage from Axis Insurance
- Hull and Machinery Insurance cover for loss or damage to the vessel and its equipment. The causes of loss insured against are called perils and are named. They include fire, explosion, theft, piracy, bursting of boilers, negligence of the master and crew and “perils of the sea” – a broad marine insurance term which is internationally recognized to include flooding, sinking and grounding.
- Protection and Indemnity Insurance – coverage for third party liabilities arising out of the ownership and operation of a vessel. The risks covered can include bodily injury to crew and passengers, pollution, wreck removal (e.g. when a vessel sinks and blocks a harbour entrance) as well as elements of collision liability not covered in your Hull and Machinery policy.
- Cargo insurance – this type of insurance covers physical damage to, or loss of your goods whilst in transit by land, sea, or air. Cargo insurance is usually provided by the means of one of three Institute Cargo Clauses ‐ A, B or C. Cargo Clause A provides the most cover with B and C giving less coverage.
- Navigation limits include USA and Canadian coastal waters. We can negotiate and agree worldwide extensions with our underwriters.
- All Marine Insurance policies from Axis Insurance have “A” rated security with an established world leader in marine insurance.
- Axis Insurance can arrange cover for a multitude of maritime risks including pleasure craft, personal water craft, tugs, barges, commercial fishing vessels, sport fishing vessels, whale watching vessels, ferries, dinner cruises and floating lodges. We also cover boat yards, marine construction projects, wharfs, terminals, cargo, and marinas.
Whether you are looking for coverage for your marina, barge, open ocean cargo, or floating lodge, our marine team has you covered. There are a variety of coverage options available to meet your marine insurance needs.
Our marine experts work with you to identify the key factors influencing your coverage, such as goods insured, loss limits, country of origin, destination, packaging, containerization, and loss experience to ensure that you are adequately covered while controlling for costs.
Specialized Team Members
