Different Types of Marine Insurance Policy in Victoria

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Different Types Of Marine Insurance Policy in
Victoria
4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
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• Marine insurance is an insurance which cover the
  loss or damage caused to ship, terminals or any
  transport or cargo by which goods are
  transferred.
• There are various types of marine insurance
  policies in Victoria which are offered to clients
  by insurance company for their flexibility while
  choosing marine insurance policy .
• The different types of policy is explained in
  next slide.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
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• 1.Voyage Policy
• This policy is valid for particular voyage.
• It covers from the departure port to the
  destination port.
• This policy is mainly used for cargo.
• For this type of insurance policy company should
  give guarantee for loss/damage of the property
  during the voyage policy.
• The responsibility of the insurer continues till
  the landing and re-shipping of the goods.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
4

• This policy ends when the ship reaches at the
  destination without any loss or damage.
• In this policy from and to has a great
  importance.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
5

• 2. Time Policy
• Valid for specified/fixed time is known as time
  period policy.
• It is generally valid for 12 months and is
  categorized as a time insurance policy.
• The marine threats during this periods are
  insured.
• For full insurance this policy is suitable.
• This policy is for one year but we can make this
  policy for less than 1 year also.
• This policy is mainly used for hull insurance
  then for cargo insurance.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
6

• 3. Mixed Policy
• The policy offers both time and voyage is known
  as mixed policy.
• The elements of voyage and time policy are
  combined in this policy.
• This policy is taken after completion of voyage
  policy.
• In mixed policy new policy takes birth from the
  combination of voyage and time policy.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
7

• 4. Open or Un-valued Policy
• In this policy the value of the cargo or
  consignment is not mentioned in the policy
  document.
• Reimbursement is only done after the loss of
  cargo or consignment.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
8

• 5. Valued Policy
• This policy is an opposite of open policy. In
  this policy the value of cargo and consignment is
  mentioned within the policy document and clear
  the cost of the reimbursement just in case of any
  loss.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/
9
Victoria Address 4430 West Saanich Road Suite
101 Victoria, BC V8Z 3E9 Main (250)
386-1454 Fax  [phone] Vancouver
Address 1818 - 925 West Georgia
Street,Vancouver, BC V6C 3L2 Main 1 (604)
683-1100 Fax  [phone]

• Christie Phoenix Insurance is one of the best
  insurance company in Victoria. It is in business
  for over 35 years.
• We are LEADER in the insurance marketplace. We
  provide 24 hour claims support, outstanding
  customer service and a professional but relaxed
  environment in which to conduct your business
  with us.

4430 WEST SAANICH, ROAD SUITE 101, VICTORIA, BC
V8Z 3E9     MAIN 250 386-1454 FAX (250)
386-0604
http//www.christiephoenix.com/