Vessels & Ships

MGC Marine Insurance

Marine insurance covers losses or damage to ships, cargo, terminals, and any transport by which property is transferred, acquired, or held between the points of origin and the final destination. It is a crucial aspect of the global trade industry, protecting businesses and individuals from significant financial risks associated with maritime activities.

Cargo Insurance
  • Protects goods being transported by sea against loss or damage.
  • Covers risks like fire, theft, water damage, and accidents.
  • Can be on a specific voyage or open policy basis.
Marine Insurance
  • Covers property while it’s being transported over land, such as goods in transit, storage, or construction sites.
Marine Insurance

Key Considerations

Key marine insurance services offered by MGC include:

Risk Assessment

  • A thorough assessment of the specific risks involved in the maritime operation is crucial. Carriers (shipping line/airlines/hauliers) are covered by international terms of carriage which only offer limited liability, so in most situations in the event of a loss, the financial impact will not be fully covered.

Coverage Limits
  • Determine the appropriate coverage limits to protect against potential losses.
Policy Terms and Conditions
  • Understand the policy’s terms, conditions, and exclusions.
Underwriter Selection
  • Choose a reputable underwriter with expertise in marine insurance.
Premium Costs
  • Consider the premium costs and balance them with the level of coverage needed.
Why Choose MGC Import Export?

Benefits of Marine Insurance

By understanding the different types of marine insurance and carefully selecting a policy, businesses and individuals involved in maritime activities can safeguard their assets and mitigate risks. Through our own marine insurance policy at MGC, we can take the headache of insurance out of the equation for our clients by insuring shipments on an ad hoc basis once instructed. This alleviates the risk of product becoming lost or damaged without insurance and ensures a fair deal to resolve an issue where reimbursement is required due to an unexpected incident whilst goods are in transit. This is of particular benefit if selling based on CIF/CIP.

Please contact us via the enquiry form below for any requests for information around marine insurance.

  • Financial Protection: Protects against significant financial losses.
  • Peace of Mind: Provides reassurance and reduces stress.
  • Business Continuity: Helps maintain business operations in case of unforeseen incidents.
  • Compliance with Regulations: May be required by certain contracts or regulations.
trade associations

Trade Associations

At MGC Import Export Consultants Ltd, we take pride in delivering high quality customer service. As an independently run business that focuses on our clients, with value-add support services, we offer flexible global logistics solutions along with consultancy services and training for all aspects of international trade.

Contact MGC Import Export

Get In Touch

We believe by understanding your business requirements fully, we can offer a tailored service to suit your company import and export requirements.

Our experienced logistics team focus on providing a quality, timely service at a competitive price.