Open Cover Marine Insurance Advantages: Flexible Protection for Frequent Shippers
For businesses engaged in continuous maritime trade, insuring every shipment separately can be time-consuming and costly. This is where the open cover marine insurance advantages become invaluable. Instead of arranging a new policy for each consignment, an open cover agreement provides ongoing coverage for multiple shipments over a set period, streamlining the process and ensuring uninterrupted protection. What is Open Cover Marine Insurance? Open cover marine insurance is a pre-agreed contract between an insurer and an insured party that automatically covers shipments within agreed terms. It is particularly beneficial for exporters, importers, and logistics companies that ship goods regularly. Core Open Cover Marine Insurance Advantages Advantage Description Time Efficiency No need to negotiate separate policies for every shipment. Cost Predictability Premium rates agreed in advance, aiding budget planning. Continuous Coverage Ensures no shipment is left uninsured between contracts. ...