Insurance for any vessel.
Vessels are insured for damage and liability (Protection and Indemnity P&I). The cover will include, but is not limited to – damage to onboard machinery, removal of wreck, salvage costs. Anything that floats or works on or in the water can be insured, i.e. drilling rigs, barges, pontoons etc. In addition, we can also arrange insurance cover for, Marinas, Boatyards, Jetties, and more.
Marine insurance as a general term encompasses all aspects of transit involving water (or air). It is probably the oldest form of insurance and originated as a result of early Merchants wishing to financially safeguard their vessels and goods whilst it transit. Today, the same term applies to air transit.