Marine Insurance: Protecting Your Boat at the Dock

2 May 2019 Insurance Products

Protecting your boat at the dock with marine insurance will help give you peace of mind that your boat is safe and secure when not in use. At Mountainview Insurance, they understand the importance of protecting your boat from damage at the dock. That is why they offer a wide range of insurance products, including boat insurance.

What is Marine Insurance?

Marine insurance is designed to protect ships, boats, and the cargo carried in them from accidents and incidents that occur at the dock and on the water. This type of boat insurance can help protect against things like piracy or cross-border problems.

Types of Marine Insurance Policies

Insurance companies offer a selection of different marine policies, providing clients with flexibility for choosing the best plan for their boat and cargo. Some of the different types of marine insurance policies available include:

Voyage Policy

A voyage policy, also known as marine cargo insurance, covers unforeseen risks to the ship’s cargo on a particular voyage. Since this policy is not time based, the policy ends when the voyage does.

Time Policy

A time policy provides marine insurance for a specified period of time. In most cases, this type of policy is valid for a year.

Open or Unvalued Policy

For this type of marine insurance policy, the value of the cargo and consignment is not specified in the policy beforehand. In the event of a loss, the cargo and consignment will be inspected and valued to determine the amount of reimbursement.

Valued Policy

Unlike an open or unvalued policy, a valued policy ascertains the value of the cargo and consignment beforehand, making it clear how much will be reimbursed in the event of any loss.

If you would like to learn more about protecting your boat at the dock with marine insurance, or if you are interested in one of their insurance products, please contact Mountainview Insurance at 604-557-0255 or by requesting a quote on their website. Mountainview Insurance is proud to provide high-quality insurance products to clients throughout Abbotsford and the surrounding areas.