Insurance for carriage of goods by sea & air

Royal Crown Insurance, a company with an established presence and long-term experience in the insurance world, and with a main goal to protect and cover its clients with its progressive insurance policies, presents the Marine Insurance Policy. The Marine Insurance Policy concerns all the individuals and importers or exporters of goods as well as any persons engaging in transit trade.

Our Marine Insurance Policy ensures that you are worry-free because we insure your goods in transit for damage they may incur. The extent of this cover varies, and allows you, without substantial costs, to adapt your policy to your own financial priorities. Your cover may be limited and cover losses due to collision, impact or capsizing of the transport means, or it may be for all risks, and include the risk of theft, among others. Under certain conditions, you can also insure against the carrier’s liability. The cost for this insurance depends mainly on:

  • The type of the goods being carried
  • The manner and means of transport
  • The destination
  • The extent of the cover

Look into our Marine Insurance Policy before importing/exporting

Our Marine Insurance policy has been created, developed and improved for the purposes of fulfilling the insurance needs of all importers and exporters. The insured perils are offered in the form of the Institute Cargo Clauses, (A, B and C) in the case of goods carried by Sea, and Institute Air Cargo Clauses in the case of goods carried by air.

By sea

Institute Cargo Clauses (C)

The Clause (C) covers loss or damage caused by:

  • Fire or explosion
  • Grounding, sinking or capsizing of the vessel
  • Overturning or derailment of land conveyance
  • Collision or contact of vessel or other conveyance with any external object other than water
  • Discharge of cargo at port of distress
  • Compulsory or voluntary jettison of goods into the sea. (General Average Sacrifice)

Institute Cargo Clauses (B)

The Clause (B) covers loss or damage caused by Institute Cargo Clause (C) and also:

  • Earthquake
  • Entry of sea, lake or river water into the vessel
  • Washing overboard
  • Total loss of package whilst loading on to or unloading from the vessel

Institute Cargo Clauses (A) 

The Clause (A), the widest form of cover, covers loss or damage caused by all perils described in Clauses (C)and (B) and also any other loss or damage caused by a sudden and unforeseen event (All Risks)

By air

Institute Air Cargo

The Institute Air Cargo, covers loss or damage caused by all perils and also any other loss or damage caused by a sudden and unforeseen event (All Risks)

You can get a lot of extras with just a little extra

The Marine Insurance Policy enables you, without substantial cost, to extend and adapt it to cover other risks, such as:

  • INSTITUTE WAR CLAUSES
  • INSTITUTE STRIKE CLAUSES