Professional Insurance Brokerage Services since 1989
Scope of cover:- There are three major levels of protection
- Institute Cargo Clause A (All Risks)
- IInstitute Cargo Clause B covering fire, explosion, earthquake, volcanic eruption, lightning and jettison
- Institute Cargo Clause C - minimum protection available and are only really suitable for bulky goods which are not susceptible to damage.
Cover is for loss of or damage to goods under the above classifications.
This is mainly used to cover ships, boats or vessels and it provides indemnity against loss or damage to the hull, machinery and equipment caused by fire, explosion, malicious damage, theft, stranding, sinking, collision e.t.c.
It can be extended to cover protection and indemnity insurance cover (Third Party). For own use, it can be used to cover cargo belonging to the insured (i.e Hull Owner's Cargo).
The covers available includes:
COMPREHENSIVE INSURANCE
This covers loss or damage to own vehicle caused by accident, collision or overturning, fire and theft. It also covers damage to third party property and injury to third parties. The policy extends to cover accessories in the car including personal effects in the Insured car.
THIRD PARTY FIRE & THEFT INSURANCE
This provides cover for loss or damage to third party property including injury to third parties. It however does not cover damage to own vehicle except in respect of fire damage or theft of own car.
THIRD PARTY ONLY INSURANCE
This provides cover for loss or damage to third party property including injury to third parties. There is no cover for own damage.