What are the different types of maritime insurance?
Maritime insurance is basically a boat insurance and travel over the oceans. Two main categories of maritime insurance are cargo insurance and torso insurance. The car insurance is most often purchased by the owner of the goods to be sent rather than the owner of the vessel. The hull insurance is most often purchased by the owner of the vessel. One of the ensembles of laws that affect the transport of this expense are the International Convention on documents that are commonly referred to as "Hauge rules". These sculptures limit the financial liability of the sender to the cargo owner for damage occurred during transport. For financial protection, many manufacturers buy maritime insurance for their goods. In principle, this type of policy includes damages up to the full value of the shipment at all circumstances that is not specifically excluded. Usually these exclusion are based on conditions such as loss caused by poor packaging or abandoning goods where a clear error can be assigned. This coverage is usually much cheapwidth and used if it is possible to expect a certain degree of damage to the shipment. Mass goods such as grain are most often covered under this type of maritime insurance.
The hull insurance is designed to protect the vessel from the vessel. These policies are, as the general principles of cargo in general, protect against all conditions that are not explicitly excluded. In many cases, it protects the hull insurance from all the equipment needed to operate the ship and the body of the vessel itself.
The principles for the hull insurance are generally time. In some cases, coverage only extends to the length of a particular voyage. In practice, recovery according to these types of policies is often more limited. In these politicians, at the time of issuing insurance, the insurance is expected. Any damage that can be traced to the problem that has submitted policy will often be rejected.
On the other handHull purchased in a period of time often ignores the status of the ship at the time of the purchase of policy. In many circumstances, this sea insurance is restored while the vessel is at sea. Given that many repair services and preventive maintenance can only be pre -disturbed during the anchoring of the ship, it would not be possible to ensure the complete health of the vessel that has already been put to the sea.