Import and export are two fundamental activity for most of the companies in a globale world. This policy guarantees cargo loss and damages from loading to unloading points.The coverage can be written on behalf of seller, buyer or any part having benefice of the cargo.
The below articles are the type of coverage:
All Risks (Institute A Clause) : All physical cargo loss and damages due to unforeseen or sudden incident from warehouse to warehouse.
Free of Particular Average (FPA ) (Institute C Clause) : This policy indemnifies goods' damages during the transportation; such as grounding, overturning, capsizing, slamming, impact, burning, etc.
Total Loss Only : This policy indemnifies goods' total loss (become unusable) during the transportation.
Valuable Goods Cover
This policy indemnifies valuable goods' damages during the transportation.
Under the Turkish General Condition of Third Party Insurance, this type of covers indemnifies financial loss and damages to the third party goods under warehouse control which are:
Hull & Machinery Insurance
Hull Construction Insurance
This policy cover the following loss and / or damages to vessels' hull and equipment during the navigation or at port or raising anchor or during the repair and maintenance;
Hull War & Strikes Insurance
The exception cover for the Hull & Machinery policy can be bought only with aforementioned policy; warlike events, riots, rebellion caused by dockworkers, terrorist acts and malicious acts are the scope of this policy.
This policy provide Institute Yacht Clause (1.11.82.Cl328) loss or damage to commercial or private pleasure crafts' machines, boats, fittings and equipments. Main covers are Perils of the sea (collision, grounding, capsizing, storm etc), fire, lightning, explosion, earthquake, volcanic eruption, physical contact with air vehicles, theft of yacht, boat services, machinery or equipment by force, debris removal costs. Additional covers can be added with a limit; such as pollution, personal belongings, third party liability.
Legal loss and damage to third party for any occupational incident caused by marine operators are in the scope of this cover.