What is the concept of marine insurance under Admiralty Law?

Marine insurance is a concept of admiralty law in South Carolina that provides protection for boats and vessels and the people and cargo they transport. This type of insurance provides coverage in the event of a loss or damage to the vessel, people, and cargo. It can also provide coverage in the event of liability arising from damage or injury caused by the vessel. Marine insurance is typically divided into two categories; hull insurance and cargo insurance. Hull insurance provides coverage for loss or damage to the vessel itself, while cargo insurance provides coverage for loss or damage to cargo carried on the vessel. Other types of coverage associated with marine insurance include kidnap and ransom coverage, pollution liability, wreck removal coverage, passenger liability, and other specialized coverages. It is important to understand the concept of marine insurance and the various types of coverage available to make sure that you are adequately protected in the event of a loss. An experienced admiralty lawyer in South Carolina can help you determine the best type of coverage for your individual situation and ensure you get the protection you need.

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What is the concept of marine insurance under Admiralty Law?

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