M&R Insurance Agency

Ocean Marine
Covers Cargo and Ships in transit over sea.

This type of insurance consists of:
Hull Insurance: Covers Physical Damage for the ship. Single ships or fleet liability insurance is covered as well.
Cargo insurance: Covers goods while in transit over the water. There are three types:
Warehouse to warehouse: origin to destination (on land and on sea) Trip voyage- single voyage Open cage- multiple trips
Freight insurance: Protects against the loss of shipping costs.Protection and Indemnity P&I: Marine Liability of:
Job related injuries of sailors Injuries to longshoreman and harbor workers Damage to cargo Damage to property not caused by collision Damage to property and another boat in a collision
Coverage includes:
Unusual wind and wave action Stranding Lightning Sinking Collision Jettison- rid ship cargo to reduce further loss Barratry- illegal acts by captain and crew.
Two types of Loss coverage:
General Average- Partial loss due to sacrifice of goods on board (Jettison) Partial Average- both parties bears the loss. Owner of ship and owner of goods being shipped.
Three types of implied Warranties. The ship must be:
Seaworthy Cargo in good condition and packed property by sender No deviation of voyage

Contact M&R Insurance Agency at (516) 284-1020 or email us at mnr@mnrinsurance.com and let one of our qualified staff members assist you with any questions or needs you may have regarding your Ocean Marine Insurance.