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Ocean Marine Cargo Insurance
As commercial insurance broker we would advise ocean cargo insurance coverage for any company that ships it's product around the globe.
Getting a quote of ocean cargo insurance is easy and typically requires much
less information than other insurance coverages and you can get a
ocean cargo quote here. The
international shipping industry handles more than $7 trillion dollars worth of
goods annually.
Weather your company is shipping dog toys, flat panel television, clothing or perishables we can find the right insurance company to cover your marine cargo
and typically save you significant premium over buying insurance through your
shipper. Our clients ship from the following business categories:
Agricultural products including perishables - Industrial equipment -
Bulk liquids - Ores and minerals - Pharmaceuticals - Project cargo - Wood
products - Perishable goods - Electronic components - Food and beverage -
Containerized consumer products - Commodity business
Get A Quote
Many of the carriers we work with have coverage that compliment existing
coverage such as general liability
coverage or product liability
coverage. We provide ocean cargo insurance to industries
and companies big and small including
Air cargo carriers, Freight forwarders, Customs brokers Distributors, Importers and exporters, Logistics providers, Manufacturers, Multinational companies, Ocean cargo carriers, Project managers, Wholesalers and retailers.
We work with the insurance industries leaders to provide the best possible fit
for your marine cargo insurance needs including
Chubb,
Traveler's insurance,
Fireman's Fund and
CNA.
What to look for in a Ocean Cargo Policy:
Today's typical ocean cargo insurance provides coverage for goods that are shipped,
via water or air from the point of origin to destination typically via marine
cargo transport, internationally. Ocean marine cargo insurance covers many perils
such as inclement weather or theft. Many companies that frequently ship
product buy annual policies which cover their shipment on an annual basis for
total goods shipped where as companies that ship goods infrequently or one time
can insure a single shipment. It is important to note that ocean marine cargo
insurance ceases to cover the insureds goods once they have made land fall
unless the policy contains coverage for inland transit also called inland marine
insurance. These insurance product cover both the insured's loss of goods or products in transit and the policyholder's liability arising from loss or damage to the property of another that is in their care, custody or control.
Exclusions can be found for countries banned from doing business with companies
in the United States including Iran and some African countries.
Why would a company need Ocean Cargo insurance?
Consider the following loss scenario:
A cargo of custom designer clothing arrives at its final insured port of
destination in Long Beach, California. The following morning when the LTL
Carriers arrives to inventory the cargo, they discover the container the
clothing was shipped in has been stolen. The cost of the stolen goods is $230,000
but the insured's Ocean Cargo policy responds to this loss.
Carriers that offer Products Liability coverage to California Businesses:
Chubb,
Traveler's insurance,
Fireman's Fund and
CNA,
The Hartford , Loyld of London
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We help our clients reduce expenses while maintaining or improving
their over all insurance coverage.
- Average Reduction in Premium 10-20%
- We work for you
- Reduce time managing insurance programs
- Identify Coverage gaps
- Risk analysis
Contact us
Why work with Timothy R. Pine Insurance Services:
- 3 Generations of Insurance Experience
- Choice -Admitted A Rated Carriers
- Dedicated account manager
- 4 Hour turn around on certificates
- Loss prevention program
- Workers Comp Claims Management
- Personalized Risk Assessment
- 98% Client Retention rate
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