Aman Patni2024-08-07T11:48:00+05:30Marine Insurance is not legally required, but it is highly recommended for businesses involved in transporting goods to protect against unforeseen losses.
Q2: What factors should be considered before choosing a policy?
Aman Patni2024-08-07T10:49:08+05:30Consider the type and value of goods, transportation mode, route risks, and coverage needs when selecting a policy.
Q3: What are INCO terms in marine insurance?
Aman Patni2024-08-07T10:50:04+05:30INCO terms are international trade terms that define the responsibilities of buyers and sellers in shipping agreements, affecting insurance coverage.
Q4: What is a floating policy in marine insurance?
Aman Patni2024-08-07T10:50:49+05:30A floating policy covers multiple shipments under one policy, providing flexibility for businesses that ship goods frequently.
Q5: What is a port risk plan?
Aman Patni2024-08-07T10:51:35+05:30A port risk plan covers vessels while they are in port, protecting against damages and liabilities incurred while docked.
