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What is the two types of marine hull insurance policies?

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Question added by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company
Date Posted: 2015/03/09
Mamoun elbaghir abdalla mhamad Eltayeb
by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

 Thank you Sirs for your participation and answers.

   As marine hull insurance coverage is not two but one cover and interest insured comprises the following :-

1/ Hull and2/ Machinery of the vessels3/ Increased value.

   So , my intention is a question for the two types of marine hull insurance POLICIES which is as hereunder :-

   Type (1) Voyage policy , covers the vessel for a particular voyage.

 Type (2 ) Time policy ,covers the vessel for a period of time usually12 months.

                     I hope this will clarify the matter .

Thanking you.

 

 

Arif Mudasir
by Arif Mudasir , SENIOR ACCOUNTANT , ARABIA INSURANCE COOPERATIVE COMPANY (RIYADH)

1) Marine Hull And Machinery &2) Vessel Protection & Indemnity Policy

Farah Husni
by Farah Husni , Supply Chain Manager , Supply Chain Corp

 

1. Hull Insurance for vessels, craft, hull machinery including builders risks

2. Cargo Insurance for goods, cargoes, merchandise such as air cargo and parcels.

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