Marine Insurance

Marine Insurance

A marine insurance typically covers any losses incurred in the form of damages to cargoes, ships, terminals, and other transportation which are involved in the movement of a property from the place of its origin to the end destination. At BEST Inc., we understand just how costly it truly is to run a business, hence we do not want our clients to be financially burdened further. Thus, we ensure to get you covered should there be any liabilities that need to be paid by your company in the event of an unfortunate situation with your ship and cargo at sea. Our team at BEST Inc. specializes in insuring businesses of various sizes with marine policies that basically cover the excess, retention, franchise, deductible, and co-insurance components.

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What is Marine Insurance?

Marine insurance policies are taken up by companies to protect any liabilities that may arise during their business operations. Some incidences that may arise include a collision between their ship and others, a collision between their ship and a fixed object in the sea, and a wreck removal process which occurs when there is something hindering their ship from setting harbor at a certain port. Such events may at times incur real hefty sums of money depending on the degree of incident, thus a marine insurance would come in handy to avoid the company from being made liable for full compensation payment to related parties.
The payments in question may differ in the final amounts which could be settling an actual total loss when the costs of damages incurred are equal to or more than the property value. Another payment type could be for a constructive total loss which pays for the costs of repairs on top of the salvage value when they are equal to or more than the property value.

How BEST Inc. Can Help

As a partner for our clients, we believe in delivering a great customer experience coupled with reliable performance so that our clients can focus on the growth of their business. Our in-house order management (OMS) and warehouse management systems (WMS) provide live data so that our client’s always have full visibility into their supply chains. In addition, all of our agreements come with a 99% guarantee on the accuracy of your orders and inventory. Our philosophy to partner with our clients continuously drives us to improve and look for ways to support our partners as they continue to grow.

Reach out today and learn about the Best difference.

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If you want to learn more about our expertise in marine insurance, do not hesitate to contact us today. You may call BEST Inc. at 626-626-7665 or send an email to us-sales@best-inc.com.

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