Ocean Marine Insurance

What Is Ocean Marine insurance?

Ocean marine encompasses a variety of insurance coverages designed to protect merchandise, goods, workers, passengers and crews aboard shipping vessels and cargo storage during marine transport domestically or abroad. Ocean marine insurance also covers other stages of an ocean marine shipment, including land or air transportation connected to the marine shipment.
If you source raw materials, distribute foreign manufactured goods, or sell goods overseas, ocean marine insurance can serve as the foundation of your comprehensive business continuity strategy. Businesses across many industries including manufacturing, distribution, communication, energy, construction and maritime, trust The Hartford for their ocean marine insurance solutions.
The Hartford offers a broad selection of Ocean Marine insurance coverages. This includes Ocean Cargo insurance, Hull and Machinery insurance, Protection and Indemnity policies, Monoline Legal Liability policies, and Marine General Liability insurance. If you need to protect goods in ocean transit, the ships that carry those goods, the crew or passengers aboard, goods being exhibited, or warehouse storage for cargo – domestically and abroad, The Hartford can help. And when you are required by law to retain a Local Admitted Policy, The Hartford can provide that as well. Our coverage grants are flexible which means The Hartford can help you tailor your ocean marine insurance policy to address your needs and the unique maritime exposures facing your business.

Ocean Marine Insurance Coverages

Ocean marine insurance is designed to help protect goods that cross international borders and includes foreign or domestic overland transport connected to the marine shipment. In this global economy, ocean marine coverage is a necessity for most manufacturing and distribution operations. Popular marine coverages include Ocean Cargo insurance, Hull and Machinery insurance, Protection and Indemnity policies, Monoline Legal Liability policies, and Marine General Liability insurance.
The Hartford’s Ocean Cargo Choice insurance policy provides coverage for all manner of lawful goods throughout the production process through to delivery at their final destination. Ocean Cargo Choice covers your goods as they change from raw materials to finished goods – including to capital equipment and salesman samples.
With Ocean Cargo Choice coverage from The Hartford, valuation of covered goods changes as the goods move through production, so you can rest assured you are covered at every stage of processing.
The Hartford automatically provides coverage for goods during processing up to the full limit for scheduled warehouses. Salesman samples are automatically included as covered property under this coverage. Installation and exhibition coverage can be added as optional coverage to your Ocean Cargo policy. For our Ocean Cargo Choice customers with foreign domiciled subsidiaries, we can provide Local Admitted Policies as a value-added service.
The flexibility of our Ocean Cargo Choice coverage allows businesses to tailor their policies with additional optional coverages designed to address the exposures particular to their operations. Here is a sampling of the types of optional coverages available to businesses that choose The Hartford for their ocean marine insurance:
  • Warehouse Extension. You can add a warehouse extension to your ocean marine coverage from The Hartford to cover goods in warehouses and at every stage of processing whether scheduled or unscheduled, foreign or domestic, blanket or sublimit. We also offer options for Flood, Earthquake, and Named Windstorm in domestic or overseas locations
  • Concealed Damage. Our ocean marine coverage also covers concealed damage for hidden damage to goods that may occur during shipping but is not readily apparent upon delivery.
  • International. When US domiciled companies with foreign subsidiaries are required by law to obtain Local Admitted Policies, The Hartford can provide them with our Ocean Cargo coverage.
  • Contingent Liability. Contingent cargo coverage is available as an optional coverage when you are insuring freight forwarder or customs house brokerage operations, or when terms of sale dictate.
  • Difference in Conditions. This coverage is designed to minimize gaps in valuation or terms when the other party’s insurance does not adequately respond to a loss.
Many more coverage enhancements are available with marine coverage from The Hartford. You can customize your policy even further with coverages for Business Resiliency, Advance Payment on Loss, and more.
To learn more about Ocean Marine Cargo insurance and the advantages of Ocean Cargo Choice from The Hartford speak with your agent or a representative at The Hartford, and read this guide.
Shoreside operators, including ship repairers, marine contractors, wharfingers, stevedores, terminal operators, charterers, vessel operations and other marine businesses, have unique maritime exposures. The Hartford's proprietary marine general liability policy provides the benefits of a general liability policy for both your maritime operations and related shoreside liability.
You can tailor your MGL policy with these additional coverage options from The Hartford:
  • Other work extension for ship repairers
  • Traveling workers' extension for ship repairers
  • Boat broker legal liability
  • Gulf of Mexico policy extension
  • Pollution buyback endorsement
  • Bailee coverage endorsement
  • Punitive damages defense endorsement
If you operate a vessel, you need protection from potential threats above and beneath the ocean surface. The Hartford provides industry standard as well as manuscript coverage, which you can tailor to fit your ocean marine exposures.
Hull and Machinery. A Hull & Machinery policy from The Hartford protects the vessel, fixed machinery and propulsion equipment from physical damage and extends to cover third party property damage such as collisions at sea or with fixed objects while moored or during vessel operations.
Protection and Indemnity. A Protection and Indemnity policy from The Hartford provides bodily Injury coverage to the crew, passengers or others while aboard the vessel as well as coverage for liability arising from vessel operations.
Whether you are a boat builder or broker, a ship repairer, terminal operator, wharfinger, stevedore, or conducting barge fleeting operations, contact your ocean marine specialist at The Hartford for manuscript (or American Institute of Marine Underwriters) ocean coverage that you can tailor to the specific requirements of your maritime operation.