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Marine & Aviation Insurance In The UAE

As the UAE cements its status as a pivotal hub for international trade and aviation, the importance of marine insurance escalates, given the region’s significant role in global shipping lanes and logistics networks. Petra Insurance emerges as your trusted partner, offering tailored insurance solutions designed to protect the unique assets of businesses and individuals navigating the complexities of marine and aviation operations within the region, which is part of our commercial insurance policy. With the increasing volume of maritime commerce, ensuring your shipments are covered against the unforeseen is not just a precaution—it’s essential for maintaining the continuity and financial stability of your operations.

What is Marine Insurance in Dubai & The UAE?

Marine Insurance is a specialized form of coverage designed to protect against the losses or damages incurred to ships, cargo, terminals, and any transport by which goods are transferred, acquired, or held between the points of origin and final destination. It offers a crucial safety net for businesses and individuals involved in the maritime industry, safeguarding their assets against a wide range of unpredictable natural and man-made perils. 

Secure Your Marine and Aviation Assets with Petra Insurance in the UAE

Ensuring Comprehensive Marine & Aviation Protection with Petra Insurance

Petra Insurance recognizes the intricate nature of marine and aviation risks in the UAE’s dynamic trade and manufacturing landscape. We provide bespoke insurance coverage that spans from single shipments to extensive fleets, ensuring your assets are protected whether in transit by sea, air, or land. Our Marine Open Policy and specific solutions for Marine Hull and Aviation Insurance are designed to offer seamless protection, minimizing administrative burdens and maximizing coverage effectiveness.

Tailored Marine Cargo Insurance Options in The UAE

Petra Insurance offers a comprehensive suite of Marine Cargo Insurance options, designed to cater to the diverse needs of our clients, ensuring their cargo is protected against accidental, physical loss, and/or damage during transit by sea, air, or land. 

  • Institute Cargo Clauses (A)

This option provides the widest “All Risks” coverage, safeguarding against a vast array of perils. It’s the most comprehensive, albeit the most expensive, ensuring peace of mind with coverage for almost any eventuality, barring the standard exclusions as per ICC (A) wordings.

  • Institute Cargo Clauses (B)

This tailored insurance option provides comprehensive protection against a range of specific perils, ensuring that your cargo is safeguarded throughout its journey. 

Coverage includes risks such:

    • Fire or Explosion: Coverage against the destructive forces of fire and explosive incidents.
    • Stranding, Grounding, Sinking, or Capsizing: Covers the cargo if the vessels or crafts become stranded, grounded, sink, or capsize under adverse conditions.
    • Overturning or Derailment of Land Conveyance: Safeguards against the risks associated with the overturning or derailment of land-based transport vehicles.
    • Collisions: Covers incidents involving the collision or contact of a vessel, craft, or conveyance with any external object, excluding water.
    • Cargo Discharge at a Port of Distress: Financial protection for the discharge of cargo at a port of distress under emergency situations.
    • Natural Disasters: Comprehensive coverage for damages caused by earthquakes, volcanic eruptions, or lightning strikes.
    • General Average Sacrifice: Compensation for the deliberate and necessary expenses or sacrifices made to preserve the voyage and cargo.
    • Jettison and Washing Overboard: Protection against losses resulting from cargo being intentionally jettisoned or washed overboard to safeguard the vessel.
    • Water Damage: Coverage for the entry of sea, lake, or river water into the vessel, craft, hold, conveyance, container, or place of storage, causing damage to the cargo.
    • Total Loss of Packages: Ensures compensation for the total loss of any package that is lost overboard or dropped while being loaded onto or unloaded from, a vessel or craft.

 

  • Institute Cargo Clauses (C)

The most restrictive coverage, focusing on a limited set of perils, primarily major disasters and accidents. It’s suitable for clients looking for basic protection at a lower cost.

    • Fire or Explosion: Coverage for damage or loss caused by fires or explosions, safeguarding your assets against these intense hazards.
    • Stranding, Grounding, Sinking, or Capsizing: Covers the cargo if the vessels or crafts become stranded, grounded, sink, or capsize under adverse conditions.
    • Overturning or Derailment of Land Conveyance: Safeguards against the risks of overturning or derailment of vehicles used for land transport, covering damages from such unforeseen accidents.
    • Collisions: Offers financial protection for incidents involving the collision or contact of a vessel, craft, or conveyance with external objects, excluding water
    • Cargo Discharge at a Port of Distress: Coverage for the emergency discharge of cargo at a port of distress, providing a safety net for unexpected situations.
    • General Average Sacrifice: Compensation for losses incurred through deliberate and necessary actions taken to save the voyage and cargo from further peril.
    • Jettison: Covers the financial loss of cargo intentionally thrown overboard (jettisoned) to lighten the vessel and prevent further disaster.

Streamlined Marine & Aviation Claims Process With Petra Insurance

At Petra Insurance, filing a claim is a breeze. Our clients receive prompt support and guidance as soon as they detect potential damage, guaranteeing a smooth and efficient claims procedure. With our seasoned team of marine surveyors at the helm, damages are assessed swiftly, and all essential documentation is handled seamlessly for a hassle-free resolution.

Comprehensive Marine Hull & Aviation Insurance in The UAE

Petra Insurance provides robust Marine Hull Insurance tailored for both private and commercial vessels, along with comprehensive Aviation Insurance designed for aircraft operators and owners in the UAE. Mandatory for compliance and crafted for protection, our policies are fully customizable to meet the unique specifications and operational needs of your valuable assets. With a commitment to ensuring peace of mind, we prioritize thorough coverage and personalized service to safeguard your investments effectively.

protecting your assets in the sky with petra insurance

Partner With Petra Insurance For Unmatched Security

In the dynamic marine and aviation sectors of the UAE, a dependable insurance partner is essential. Petra Insurance is poised to provide your business with the comprehensive protection necessary to navigate the complexities of international trade and aviation. With our tailored insurance solutions and dedicated support team, you can focus on your operations, confident that your assets are shielded against a wide array of risks.

Experience security and assurance with Petra Insurance. Reach out today to discover how our specialized marine and aviation insurance solutions can be customized to safeguard your operations in the UAE. Let us safeguard your assets and ensure the success of your business amidst uncertainty.

Enjoy peace of mind on your journey with Petra Insurance, contact a team of our team to learn more about our MArine and Aviation Insurance program.

Compare insurance quotes and find a policy today.

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Call us: 800 - PETRA