Different Types Of Marine Insurance Policy in Victoria
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
Marine insurance is an insurance which cover the loss or damage caused to ship, terminals or any transport or cargo by which goods are transferred. There are various types of marine insurance policies in Victoria which are offered to clients by insurance company for their flexibility while choosing marine insurance policy . The different types of policy is explained in next slide.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
1.Voyage Policy This policy is valid for particular voyage. It covers from the departure port to the destination port. This policy is mainly used for cargo.
For this type of insurance policy company should give guarantee for loss/damage of the property during the voyage policy. The responsibility of the insurer continues till the landing and reshipping of the goods.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
This policy ends when the ship reaches at the destination without any loss or damage. In this policy “from” and “to” has a great importance.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
2. Time Policy Valid for specified/fixed time is known as time period policy. It is generally valid for 12 months and is categorized as a time insurance policy. The marine threats during this periods are insured. For full insurance this policy is suitable. This policy is for one year but we can make this policy for less than 1 year also. This policy is mainly used for hull insurance then for cargo insurance.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
3. Mixed Policy The policy offers both time and voyage & is known as mixed policy. The elements of voyage and time policy are combined in this policy. This policy is taken after completion of voyage policy.
In mixed policy new policy takes birth from the combination of voyage and time policy.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
4. Open or Un-valued Policy In this policy the value of the cargo or consignment is not mentioned in the policy document. Reimbursement is only done after the loss of cargo or consignment.
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4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
5. Valued Policy ď ś This policy is an opposite of open policy. In this policy the value of cargo and consignment is mentioned within the policy document and clear the cost of the reimbursement just in case of any loss.
http://www.christiephoenix.com/
4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604
Victoria Address:
Christie Phoenix Insurance is one of the best insurance company in Victoria. It is in business for over 35 years. We are LEADER in the insurance marketplace. We provide 24 hour claims support, outstanding customer service and a professional but relaxed environment in which to conduct your business with us.
http://www.christiephoenix.com/
4430 West Saanich Road Suite 101 Victoria, BC V8Z 3E9 Main : (250) 386-1454 Fax: : (250) 386-0604
Vancouver Address: #1818 - 925 West Georgia Street, Vancouver, BC V6C 3L2 Main: 1 (604) 683-1100 Fax: 1 (604) 683-1166
4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC V8Z 3E9 | MAIN: [250] 386-1454 FAX: (250) 386-0604