Cargo and Transit
Ocean marine insurance is designed to cover various hazards related to the movement of goods across the ocean.
The first and obvious protection that can be provided is for the cargo itself. This protection can be provided to the seller/shipper or to the buyer.
Ownership of, and responsibility for, the cargo are assumed crucial in determining what coverage is needed. Most property policies do not provide adequate coverage for property in transit domestically or internationally. For businesses where goods being shipped is a risk, special coverage is available through cargo and transit policies.