Kinds of marine Insurance

The marine insurance is divided into the following three types:

1. Cargo Insurance:

The cargo insurance covers the loss of goods only, shipped through water or inland transportation.

2. Hull Insurance:

Hull insurance is the insurance of ship itself. It covers all sort of loss reach to ship itself during the transportation of goods from one place to another.

3. Freight Insurance:

of The freight insurance protects from loss caused due to non-payment freight, sometimes, according to the terms of the contract, freight is payable, Dfa Ho at the destination port. But during shipment, the goods may get damaged and shipper may lose his freight. So the freight insurance covers the loss caused due t this of freight.