Key Considerations for Independent Purchase of High-Value Ocean Marine Cargo Insurance

Key Considerations for Independent Purchase of High-Value Ocean Marine Cargo Insurance

Independent purchase of marine insurance for high-value cargo requires attention to critical details. First, cargo packaging must meet marine transport standards; unprofessional packaging (e.g., lack of shockproofing for fragile items) may void claims. Second, verify vessel seaworthiness by requesting inspection certificates and crew credentials from the shipowner to mitigate risks.

Understand General Average contribution clauses in policies, as sacrifices made for common safety may involve shared liability. Ensure policy endorsement if cargo is transferred during transit to maintain coverage for the new owner. Avoid missing deadlines for policy modifications or claims.