Marine Insurance

There is no doubt that we live in an endless business world, and as business prospects continue to expand, you are also increasingly exposed to the risks associated with transiting goods and that your greatest challenge is linked to that which is to find appropriate risk management. Therefore, you can move confidently towards achieving the dream of expanding your business horizons.

Solidarity Saudi Takaful Co. can help you overcome these conditions and make them under full control. With the Marine Cargo Insurance of Solidarity, you can protect yourself from the risks associated with transit of goods.

Our insurance covers any loss or accidental damage due to the risks set out in the institute cargo clauses to the goods listed in the policy table as they are transited between any two points.

The type of insurance cover shall be determined according to the method of transit and customer requirements set out below:

Air, Sea, Road Transportation

Compensation in accordance with the institute cargo clauses, which is accepted and applicable all over the world.

The widest and most comprehensive insurance coverage available for different modes of transit:

  • Marine shipping - institute cargo clause "A"
  • Inland shipping - local transit (rail/road)
  • Coverage restricted to "B" and "C" clauses as suited to particular commodities and provide coverage for only major incidents such as fire, explosion, sinking, stranding or grounding of vessel, collision of vessels, overturning of land transportation etc.
  • The above clauses provide cover of warehouse-to-warehouse transit (i.e. from supplier's warehouse to buyer's warehouse)
  • Coverage against war, labor strikes, riot, civil commotion risks at reasonable additional premium along with marine perils.

Pleasure Craft SMALL HULL

As an owner of a yacht, power boat, or jet ski, there is no doubt that you require specialized yacht insurance protection to cover loss or damage to its hull, motors, machinery, accessories, navigation equipment and also liability for causing damage or loss to third party lives and property.

Pleasure craft insurance policy of Solidarity Takaful provides the most comprehensive coverage in accordance to institute yacht clauses which insures your yacht against all sea perils and unfortunate accidents at sea. Policy may be extended to include all liabilities towards third parties according to the specified coverage (which may be in line with local/government legislation). Once having this policy, Solidarity Takaful protects you with respect to claims by third parties for any bodily injury and property damage.