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Marine Insurance For Shipping Organisations

First Standard Insurance Brokers LTD. > Marine Insurance For Shipping Organisations

Our Marine Insurance - Complete Protection Designed For Nigerian Marine Companies

First Standard Marine Insurance

Marine Insurance guards against unforeseen issues associated with sea vessels and sea travels. These complications that warrants you getting a coverage like our marine insurance can be caused by fire outbreak, pirates on the high seas, storms or any form of mishap which may lead to total or partial damage to sea vessels, your property or persons on board such vessels. 

Considering the potential of such mishaps can be devastating and it is highly recommended that owners of the sea vessels and passengers on-board the sea vessels to be protected with a marine insurance such as ours. 

As an owner of any vessels it is your duty to contract an insurer who then takes on the responsibility to compensate the insured which is you the (vessel owners) against the potential circumstances that may arise or may not occur. 

It is also your responsibility (vessel owners) to make sure that any good or product that your vessel be transporting be insured at all times to avoid any form of problems or complication that may arise.

At First Standard Insurance Brokers we take this responsibility away from you and let you focus on your business full time. We make sure that with your insurance partner, you are covered all the time and when the need arises we come out of the shadows and make your marine insurance coverage work for you.

There are various classes of marine insurance. Further reference can be made to the Marine Insurance Act 1961. which can be explained via a phone call if you would like to know more.


First Standard's Risks and Features of Marine Insurance

  • Hull Insurance: This marine insurance will cover loss or damage to the vessel itself or its machinery. It provides you (Vessel Owner) cover against loss or damage to the vessel itself or its machinery insured caused by perils of the seas, rivers, lakes or other navigable waters.
  • Cargo Insurance: This marine insurance will cover loss of or damage to goods carried on your vessel. The valued insured includes the value of the cargo itself. The increased value, commission. Freight prepaid and customs duty
  • Freight Insurance: This marine insurance relates to the cost of transporting the goods or hiring the vessel. Freight could be prepaid (i.e in advance) or it could be paid on the safe arrival at the port of destination of the vessel and its cargo.
  • Liability insurance: This marine insurance covers loss or damage to an insured vessel as a result of collision constitutes, one of the dangers covered under Hull Insurance. However, it does not protect the insured against liability arising as a result of his vessel negligently colliding with and causing damage to another vessel.

Key Benefits of having your Marine Insurance covered with First Standard Insurance Brokers

  • First Standard Insurance Broker are experts in the market and have a talent for finding the best cover at the best price for you.
  • First Standard Insurance Broker is independent and works with a carefully selected group of insurers that we have regular contact with and are usually able to secure exclusive deals for you.
  • First Standard Insurance Broker would always have an expert dedicated to you everytime to help with the breakdown of the technicality of the policy we helping you manage.
  • First Standard Insurance Broker efficiently helps with difficult bespoke cover for high value or collectable items, especially obtaining a personalised quote at the best rate for you.
  • First Standard Insurance brokers have expertrate who are uniquely equipped to save you money when shopping for your next insurance policy.

  • First Standard Insurance Brokers offers you the peace of mind, the knowledge, experience, and trustworthiness every client deserve to enjoy when acquiring their policy or while still active.

  • First Standard Insurance Brokers deals with a wide range of products and services and are qualified to recommend the policies that best suit your needs from a broader portfolio of options.

  • A claim with First Standard Insurance Broker means that you have a professional on your side when choosing the best policy for yourself and your family and business.

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First Standard Insurance Broker