Marine Policy

A type of insurance coverage that places a specific value on the insured property, such as the hull or cargo of a shipping vessel. A valued marine policy pays up to, the specified value in the event of a total loss.

On the basis of value of the insured subject matter Valued Policy: A type of insurance coverage that places a specific value on the insured property, such as the hull or cargo of a shipping vessel. A valued marine policy pays up to, the specified value in the event of a total loss.

Types of Marine Policy:

  • Annual Turn Over Policy

  • Specific Voyage Policy

  • Open Policy

  • Annual Policy

  • Open Cover

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