1. Cargo
Shipments, both, export/import are carried through various modes of transportation and are exposed to a number of risks throughout the period of transit. In case the cargo in transit suffers physical loss or damage, such resultant loss or damage, may hamper routine trade activities.
In order to ensure smooth trading operations we, at Al Sagr Co-operative Insurance Company, provide various types of Marine Cargo Insurance against such physical loss or damage to cargo.
Marine Cargo Insurance provided by us depends on various factors such as nature of the cargo, mode of packing, longevity of voyage, mode of shipment, etc.
Brief description of our operation:
    - What cover plan do we offer?
      - Physical loss or damage to Cargo in transit by Sea, Air and Land.
    - Who is the Insured?
      - Shipper or Consignee of Cargo in transit/shipment.
    - What is Insured?
      - Export / Import Shipments by Sea/Air.
      - Goods in Transit by Land.
    - What are the Risks which can be covered?
      - Fire or explosion.
      - Vessel or craft being stranded, grounded, sunk or capsized.
      - Overturning, derailment ( of land conveyance).
      - Collision.
      - Discharge of cargo at port of distress.
      - Jettison.
      - General average sacrifice, salvage charges.
      - Earthquake, lightning.
      - Washing overboard.
      - Entry of Sea, lake, river water.
      - Total loss of package lost overboard or dropped in loading or unloading.
      - War and SRCC is specifically covered, if required .
    - What is an Open Policy?
      Open Policy is usually issued for export/import shipments. It is a continuous contract affected for a
      period of 12 months and renewable automatically, whereby the insurance company agrees to
      provide insurance cover to all shipments coming within the scope of the open policy. As and when
      shipments are declared, certificates are issued as evidence to the contract.
    - What is a Specific/Individual Policy?
      This policy is valid for a single voyage or transit. The policy will be issued before the voyage starts.
      The coverage will cease immediately upon completion of the voyage/transit.
    - What is an Annual Policy?
      This is a twelve months policy and is issued to cover goods in transit by land within a specified
      agreed territory.
Apart from the above standard cargo insurances, we also offer tailor-made types of coverage and the premium will be charged appropriately.
In case our products/services are of interest to you, please do no hesitate to e-mail or call us. Responding to your inquiry will be our prime priority.
Customer satisfaction is our motto, which you will, no doubt, experience through our dedicated service.

2. Hull & Machinery:

Ship-owners invest large amount of money in various types of vessels, such as: ocean going vessels, coastal waters, luxury vessels, tankers, bulk carriers, container-vessel and the like. Owners do seek apt insurance cover to protect their investment from being lost or damaged in addition to their liabilities to third parties resulting from owning, operating or using such vessels.
A team of experts in Al Sagr Co-operative Insurance Company well equipped to handle this very specialized type of insurance, perform pro-active consultancy role to our clientele and indicate the best available coverage alternatives to help them arrive at an appropriate decision regarding Marine Hull & Machinery Insurance Coverage.
Brief description of our operation:
    - What cover we offer?
      - Loss or damage to Hull & Machinery.
    - Who is the insured?
      - Ship-owner or Manager or Bareboat Charterer.
    - What is Insured?
      Ocean Going Vessels and Coastal Vessels such as General Cargo, Bulk Carrier, Oil Tankers, Tugs,
      Barges, Dredgers and even Special Purpose Vessels like Seismographic Vessels, etc.
    - What are the Risks which can be covered?
      - Fire or explosion.
      - Perils of the seas, rivers, lakes or other navigable waters.
      - Fire or explosion
      - Piracy
      - Jettison
      - General average sacrifice, salvage charges
      - Earthquake, volcanic eruption or lightning
      - War and SRCC is specifically covered.
Premium, contribution is charged appropriately depending on various factors such as classification, year built, type of hull, amount to be insured, management, loss record, etc.
In case our products/services are of interest to you, please do not hesitate to e-mail or call us. Responding to your inquiry will be our prime priority.
Customer satisfaction is our aim. No doubt you will experience this from our dedication at looking after your interests.