This is designed to provide cover for various types of barges, Tugs Ferries, Cruise and other forms of sea borne vessels against loss, damage, liability or expenses arising from marine perils to the insured vessels whilst being used in connection with the insured’s business operation, social or pleasure and hire or charter or whilst being used to carry goods belonging to others.
The policy can be extended for Protection and indemnity cover up to the sum insured on each of the vessels within the territorial limit specified.
- Type, dimension, age and value of vessels
- Trade: cargo carrying and geographical location
- Type of cover required (whether institute time clauses or institute fishing clauses)