Core Points for Independent Purchase of High-Value Ocean Marine Cargo Insurance

Core Points for Independent Purchase of High-Value Ocean Marine Cargo Insurance

Ocean shipping is a common choice for high-value cargo but involves complex risks due to long transit times and natural environmental impacts. To independently purchase marine insurance, first confirm the shipping route and schedule to select an appropriate coverage period. When choosing an insurer, prioritize their professionalism in marine insurance and claims service.

For high-value cargo like crude oil, in addition to All Risks under Ocean Marine Cargo Insurance, consider special additional risks such as War Risk and Strike Risk, especially if the route passes through unstable regions. When filling out the application, truthfully declare cargo loading conditions (e.g., whether containers are sealed or reinforced). Note that deductibles vary between insurers—some calculate per accident, others as a percentage of cargo value. If the shipping plan changes, promptly contact the insurer to modify the policy.