Marine insurance covers accidents or injuries arising from the movement of goods to ships, cargo or terminals . This policy helps reduce the financial risk factor that happens as a result of cargo failure. It is necessary to provide a marine insurance in order to prevent the financial losses arising from: cargo theft, container loss, natural disasters and container accidents..

This insurance policy provides a place of protection for shipping companies and transport associated losses of the goods during shipping. During this kind of accidents marines insurance comes to free the financial burden of shipping business corporations and carriers by endowing them with insurance coverage required to secure against probable losses.