Key aspects of marine insurance include:

1. Hull Insurance: This type of marine insurance covers the vessel or ship itself against physical damage or loss resulting from perils such as collisions, sinking, storms, fires, or piracy.
2. Cargo Insurance: Cargo insurance protects the goods being transported by sea or other means. It covers damage, loss, or theft of cargo during transit from the point of origin to the final destination.
3. Liability Insurance: Marine liability insurance covers liabilities arising from accidents, collisions, or damage caused by the insured vessel to third-party vessels, property, or individuals.
4. Freight Insurance: Freight insurance provides coverage for financial losses incurred due to the non-delivery or damage of goods during transit, ensuring reimbursement for lost shipping costs.
5. War Risks Insurance: This coverage protects against losses or damages resulting from war, piracy, terrorism, or acts of political unrest that might affect maritime trade.
6. Given the diverse range of risks involved in maritime trade, marine insurance policies can be tailored to suit specific needs. Insurers may offer additional options or extensions to cover unique circumstances or risks associated with particular cargo or routes.

Marine insurance is essential for importers, exporters, shipping companies, and anyone involved in the transport of goods via waterways or international trade. It provides financial protection against unforeseen events that could result in significant financial losses or disruptions in the supply chain.