Simply defined, the word insurance refers to Protection against future loss. Marine insurance is another variant of the general term 'insurance' and as the name suggests it is provided to ships, boats and most importantly, the cargo that is carried in them.
Whereas Marine Insurance covers the loss of damage to ships, cargo, terminals and any transport by which cargo is transferred, acquired , or held between the points of origin and the final destination, Marine Cargo Insurance is a type of insurance policy that covers the loss of damages caused to the cargo during the transit.
A marine insurance policy covers the transportation of goods via water route. It provides an insurance cover for not only the vessel or ship but also the cargo that it is being carried along. Any damages between the point of origin to the point of its destination is covered under marine insurance policy.