Property that moves about, conveys other property or is an instrument of communication that is shipped, is insured through the most ancient of all insurance: marine insurance. Because this broad range of property is more mobile in nature, it needs special rating consideration;the premium cost for marine insurance is judgement rated or negotiated case by case. Our marine insurance experts can help you design an insurance plan that adequately protects your interest in property on the move.
Examples of Special Property or Marine Insurance are:
- Mobile Equipment - Contractors and manufacturers have motorized equipment that does specific work "off premises" or "between premises" and may not be a registered motor vehicles such as earth-moving equipment and jitneys.
- EDP Equipment - This type of property is susceptible to unusual causes of loss: change in temperature, moisture content in the air, or electrical discharge, for example.
- Valuable Papers and Accounts Receivable - Many businesses have substantial value associated with these documents and it is important to reconstruct or replace the information in them if they are lost or stolen.
- Property In Transit - Terms and conditions of shipment, and F.O.B./C.I.F. determine whether the shipper or consignee is responsible for damaged or lost goods.
