
Marine Insurance
Comprehensive Marine Insurance Solutions
At AlKoot Insurance, we understand the complexities and risks involved in marine operations. Our marine insurance policies are designed to provide extensive protection across all aspects of maritime activity — from cargo transportation to vessel hull and machinery coverage, as well as marine liability.
Marine Hull Insurance
We cover hull and machinery insurance for all types of ships and vessels, including container ships, oil and gas tankers, bulk carriers, passenger vessels, tugs, barges, towboats, and offshore energy support vessels. This coverage protects against accidental physical damage such as collisions, theft, sinking, and other maritime perils. It also includes lifeboats, rafts, ship supplies, electrical machinery, boilers, motors, and all necessary onboard equipment. You can insure a single vessel or an entire fleet, depending on your needs.
Types of Marine Insurance Policies
- Hull and Machinery Insurance: Comprehensive protection against physical loss or damage tailored to your specific vessels.
- Disbursements/Increased Value Insurance: Enhances coverage up to 50% of the vessel’s insured value, providing an extra financial safety net in total loss situations.
- War and Strikes Risks: Specialized coverage protecting against risks from war, strikes, riots, and civil commotion, typically added to Hull and Machinery policies.
Note: Standalone war risk policies are not issued.
- Loss of Hire Insurance: Protects shipowners from loss of earnings when vessels are unavailable due to insured damages, covering freight or charter hire losses.
- Protection and Indemnity (P&I) Insurance: Covers third-party liabilities, arranged through international P&I clubs or commercial underwriters, complementing hull insurance.
- Builders’ Risk Insurance: Protects vessels under construction, including risks from faulty design and warranty-related issues during shipbuilding.
Marine Cargo Insurance
Our marine cargo policies safeguard your goods during transit by air, sea, or land. Whether you’re importing, exporting, or handling inland transport, our coverage protects your cargo from physical loss or damage from the moment it leaves the warehouse until it arrives at the destination.
We cater to importers, exporters, suppliers, processors, distributors, manufacturers, and commodity traders, offering flexible policies based on global standards and Incoterms.
Institute Cargo Clauses (ICC) Coverage
- ICC ‘C’ Clause: Covers fire, explosion, stranding, grounding, sinking, collision, and other basic risks.
- ICC ‘B’ Clause: Includes ICC ‘C’ coverage plus protections against natural disasters like earthquakes and volcanic eruptions, as well as cargo washing overboard.
- ICC ‘A’ Clause: All-risk coverage for comprehensive protection, excluding specific risks like willful misconduct or ordinary wear and tear.
Additional coverage options include:
- Institute Air Clause: All-risk protection for air cargo shipments.
- Land Transit Coverages: Comprehensive or basic protection for land-based cargo transit, with optional extensions for strike, riot, civil commotion, and war risks.
Major Exclusions
Standard marine cargo insurance excludes losses from mysterious disappearance, inherent vice, delays, financial insolvency, and specific risks outlined in the policy terms.
For quotes and inquiries, please reach us at rfq-gi@alkoot.com.qa .