Marine Cargo Insurance

Marine Cargo Insurance provides protection against loss or damage to your goods or cargo while in transit from the seller to you. This coverage is primarily for cargo transported by sea, ensuring your items are safeguarded throughout their journey.

Marine Hull Insurance

Marine Hull Insurance covers the main body of a ship or vessel, including the bottom, sides, and deck, but excluding the masts, superstructure, rigging, engines, and other fittings. This insurance protects the hull and machinery of both ocean-going vessels and smaller sundry hull vessels.

What Is Covered

Perils of the Sea
These refer to natural or irresistible forces that cause loss or damage during transit. They include:

• Storms: Severe weather conditions like hurricanes and gales
• Lightning: Electrical discharges from the sky
• Tsunamis: Large sea waves caused by underwater disturbances
• Earthquakes: Seismic activities affecting the sea
• Collision: Impact between vessels or with other objects
• Grounding: When a vessel runs aground on the seabed
• Sinking: When a vessel submerges below water
• Disappearance: When a vessel cannot be located
• Capsizing: When a vessel overturns
• Jettison: Throwing cargo overboard to lighten the load
• General Average: Sharing of loss resulting from a voluntary sacrifice for the safety of the vessel and its cargo
• Fire or Explosion: Incidents involving fire or explosions on the vessel
• Piracy: Acts of robbery or violence at sea
• War, Terrorism, Strike, Civil Commotion: Damage due to conflicts, terrorist activities, strikes, or civil unrest
• Natural Perils: Earthquakes, tsunamis, volcanic eruptions, lightning, etc.
• Human Factors: Misconduct by the crew, incorrect packing, improper loading or unloading, and the use of cheap labor

Marine Cargo Insurance Types

Marine Cargo Insurance is based on internationally accepted Institute Cargo Clauses (ICC), which specify the extent of coverage. The types are:

1. Institute Cargo Clauses ICC(A) – All Risks
   Provides the broadest coverage, including all risks of loss or damage to the cargo except for specified exclusions. This is the most comprehensive cover and thus comes with a higher premium.

2. Institute Cargo Clauses ICC(B)
   Offers coverage for specifically named risks as detailed in the policy. This is a more basic cover compared to ICC(A) and is suited for those needing partial coverage or for more valuable items, with a moderate premium.

3. Institute Cargo Clauses ICC(C)
   Provides limited coverage for loss or damage due to specifically listed perils. This is the most restrictive cover, and the premium is lower as a result.

What Is Covered

• Loss or damage to cargo while in transit.
• Pilferage or theft of goods in transit.
• Contamination of goods by water, moisture, oils, or liquid chemicals.
• Non-delivery of cargo at the destination.

What Is NOT Covered

• Loss or damage due to willful misconduct by the assured.
• Ordinary leakage, loss of weight or volume, or wear and tear.
• Loss or damage due to inadequate packing.
• Loss or damage due to inherent defects in the cargo.
• Loss or damage due to delays, even if caused by an insured risk (except expenses under Clause 2)
• Loss or damage due to insolvency of the vessel’s owners, managers, charterers, or operators.
• Loss or damage caused by nuclear or radioactive forces.
• Unseaworthiness of the vessel or unfitness for safe carriage if known to the assured at the time of loading.
• Unfitness of containers or conveyances for safe carriage if known to the assured at the time of loading.

Marine Hull and Liability Insurance

Marine Hull Insurance
Marine Hull Insurance covers accidental loss or damage to the vessel, including its machinery and equipment. This insurance is essential for boats used for commercial purposes and includes:

• Salvage Costs: Expenses incurred to save the vessel after an incident.
• Third-Party Liability: Coverage for legal liabilities arising from the vessel’s operations or actions of the masters or crew.

Vessel Insurance
This insurance covers accidental loss or damage to the vessel within the agreed navigational limits specified in the policy. It typically requires valuation and a survey of the vessel to set an agreed value.

Liability Insurance
Liability insurance can be included as an extension to hull insurance or purchased as a stand-alone policy. Coverage limits vary based on:

• Vessel Type
• Use of the Vessel
• Territorial Limits

Who Needs Marine Hull and Liability Insurance?

Marine hull and liability insurance is important for:

• Shipping Owners and Operators: Those managing commercial shipping operations.
• Fleet Owners: Individuals or companies owning multiple vessels.
• Ferry Operators: Operators running ferry services.
• Charter and Tourist Boat Operators: Businesses involved in boat charters or tourist services.
• Individuals or Businesses with Vessel Loans: Those who have taken loans for purchasing vessels.

This insurance provides vital protection against various risks associated with vessel ownership and operation, ensuring both physical damage and legal liabilities are covered.

Requirements for Marine Hull and Liability Insurance

To process your marine hull and liability insurance application, please provide the following:

• Duly Completed Proposal Form
• List and Breakdown of Items to be Covered: Include value separation and serial numbers.
• TIN Number/Certificate/Valid NIDA ID
• Pre-Inspection Photos: Photos of the insured vessel and equipment.
• Additional Relevant Information: Any other necessary details.
• Premium Payment

In the Event of a Claim

For assistance with your claim, please contact us:

• Phone: +255 718 422 229
• Email: claims@bluetickinsurance.com

Minimum Claim Requirements

To process your claim, please provide:

• TIN Number/Certificate/Valid NIDA ID
• Completed Claim Form
• Any Additional Documents Requested

Ensure you have all required documentation for a smooth and efficient claims process.