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All ship/vessel owners and shipping merchants must insure their property and merchandise against loss or damages. This policy is basically divided into two sections, Hull Insurance and Cargo Insurance.


Under marine hull, the hulls, machinery, materials and financial interest of all ocean going vessels and other pleasure craft. In Zimbabwe this policy is mainly for boats owned by companies or individuals and used in the lakes.


Under the marine cargo, cover is for export and import shipments including air, registered post as well as goods in transit by rail and road.


Goods in Transit/Marine Cargo Policy


The goods in transit covers loss or damage to cargo when transported in Zimbabwe and the marine cargo for international transportation of goods by road, rail or air.  This policy is essential for all importers of goods as well as a person having a reasonable interest in the items being transported.


Any type of goods can be insured and cover extends to loss or damage: -


  • While being carried in railway wagon/vehicle
  • While being removed from the warehouse before commencement of transit
  • While being stored incidental to transit

These policies provide compensation in the event of the following


  • Fire, lightning or allied perils
  • Collision or overturning of carriage vehicles
  • Derailment or any accident to the vehicle/wagon.

Compensation is for total or partial loss to the property insured caused by an insured peril. All valid claims are paid as per the agreed value. This policy also picks up expenses incurred in an effort to avoid or minimize the loss.