Marine and Aviation Risks

Marine and aviation insurance helps protect personal and business watercraft and aircraft in case of an unfortunate collision, theft, or accidental damage. Coverage policies can include Aerospace product manufacturers’ liability. Airport owners and operators’ liability.

What Is Marine Insurance?

Marine insurance covers a wide range of watercraft, including boats, yachts, and ships. It not only covers liability and damage to ships and vessels but also the cargo, terminals, and sometimes onshore and offshore property.

Policies typically exclude loss caused by willful/deceitful misconduct of the insured, ordinary leakage, ordinary losses in weight or volume or normal wear and tear, and loss indicated by inherent characteristics or nature of the subject matter (such as perishable commodities and loss caused by delay).

What Is Aviation Insurance?

Like marine insurance, aviation insurance is a broad category. Aviation insurance is a form of property and liability coverage for flying machines. This can include airplanes, seaplanes, vintage specimens, and other kinds of aircraft. It can also include properties such as hangars where planes are kept and, in some cases, the coverage for companies that manufacture aerospace products.

Aviation policies may exclude coverage for intentional acts, criminal activities, general wear and tear, or mechanical breakdown.

What Does Coverage Include?

Aviation Insurance

Operating an aviation supply company or an airport facility comes with risks. Aviation coverage protects from hazards related to aircraft hull and liability, war, general liability, and personal accidents. The terminology involved with this policy is specifically tailored to aircraft.

Marine Cargo and Transit Insurance

Many threats exist when products are being transported around the world. Items can be stolen or accidentally damaged, and other malicious actions can occur. Imports and exports can benefit from Goods in Transit (GIT) insurance coverage as part of a marine cargo insurance policy. Marine cargo coverage helps protect goods while being transported, whether by sea or air.

Marine insurance protects the sea vessel and staff involved in traveling and personally owned boats. The terminology involved with this policy is specifically tailored to watercraft.