Premium Calculation for Marine Insurance for Cargo

Marine transport is the oldest form of transportation, making marine insurance one of the oldest forms of insurance. This specific type of insurance provides coverage against damages or losses to goods during transit from one location to another. Marine insurance typically includes covers for the hull, machinery, cargo, third-party liability, etc. Cargo insurance only covers the goods that are carried in the vessel. In the below article, we shall understand how is the premium for marine insurance for cargo calculated.