Marine Takaful cover start right from the moment of goods leave the foreign or local manufacturer warehouse and remains continuously enforce during voyage / inland transit to sites / ware house / factories. It provides to all relevant protection needs of traders, shipping agents, transporters etc.
Delivering goods via sea involves a huge risk of fire or explosion, stranded, grounded sunk or capsized of vessel, overturning or derailment of land conveyance, collision of vessel and natural disasters. The Marine cargo plan as below:
There are various covers available for the following types of cargo:
Fire Takaful will only cover physical loss or damage to the property cover but does not cover loss of profit arising from such physical damage.
This Fire Consequential Loss coverage is valid during the period of interruption:
This coverage does not become operative unless the material damage claim is paid or liability is admitted in respect of such damage.
Therefore, it is important to ensure that the scope of cover under both the Material Damage (e.g. Fire takaful) and Loss of Profits takaful are identical.
Consequential Loss takaful may not be issued unless Fire takaful with scope of cover is also taken from the same Takaful Operator.