Home » Finance

Why Marines Need Insurance Too

Jun 14, 2008
Even if your boat is insured, you as an owner have the responsibility of securing your property. In the event of an accident or damage, boat owners of insured vessels have every reason to remain calm, as your marine insurance company will strive to deal with the case fairly. Here are tips of what to do after loss or damage.

Inform your insurer as soon as possible. In case of theft or a malicious third party, inform the police. Fill out and submit the claim form immediately, attached with repair estimates. A Marine Surveyor may contact you to advise on repairs and make a report.

The Container Owners Association calculates that a fully loaded 20-foot dry freight container will float because its volume displaces 83,000 pounds of water, more than its weight of 30 tonnes or 66,000 pounds. Mathematically, it would float with 18 inches sticking out of the water. However, if water enters and increases the weight to over 83,000 pounds, the container will sink. Floating containers were previously shot at or exploded to sink them and reduce their danger to ships because this was less expensive than salvage costs for towing and recovery. This is now illegal because of the pollution risk it poses.

The Container Owners Association provides some information collected from its members about floating shipping containers. How long a container cast adrift or fallen overboard will float before sinking depends on the container and its cargo. It is possible for containers to sink instantly or stay adrift for years. However, even empty containers may not watertight and sink almost immediately. Containers with large but low-density cargo have a better chance of floating. COA members say that the "sub-floater" or container that is submerged just below the water level, is a myth that can be disproven with the laws of physics.

Just how much cargo is lost at sea? Estimates vary between 2,000 to 10,000 containers every year. Accidents due to human error and natural disasters can happen unexpectedly. Everything that could go on a ship could be lost, from cars to spare parts. Some, however, manage to float to shore, including rubber shoes and rubber ducks. The consequences are not only economic; they are also environmental costs. Oil and dangerous materials are transported by sea, posing serious harm to marine life when spills occur. Piracy is also a possibility and there are fears that pirates and terrorists are teaming up. In the next few posts, we will take a closer look at container shipping.

The World Cruising Club is circumnavigating the globe this very moment. They started from the Caribbean in January and are presently in the area of the Cook Islands in the Pacific. Sailing around the world is the dream of many a sailor, and it is an great accomplishment in its own right, as the oceans of the world are vast expanses that demand competent crews. World ARC has been running events such as this for the past 20 years and have plenty of experience in ocean sailing. There is weather and routing advice, and yacht positions are tracked and updated frequently. There are required safety and communications equipment, and potentially unsafe areas are avoided. The fleet should reach Fiji in July, Mauritius in October and Cape Town in time for Christmas.
About the Author
Jon Caldwell is a professional content manager. Much of his articles can be found at http://themarineinsuranceblog.com
Rating:
Please Rate:
(Average: Not rated)
Views: 187
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources