Faith Logistic is more than a logistics and shipping specialist—we’re also a trusted marine insurance company in Singapore. We provide comprehensive marine insurance solutions to protect vessels, cargo, and marine assets from potential financial losses arising from risks during transit or storage.
Our marine insurance services are designed for ship owners, freight forwarders, import-export businesses, traders, and offshore service providers who require robust, compliant, and cost-effective risk coverage for domestic and international shipments.
Why Marine Insurance Is Essential
Marine transport is the backbone of global trade—but it also exposes cargo and vessels to risks such as:
- Accidents at sea (collision, fire, grounding)
- Weather-related damage (storms, typhoons, high seas)
- Piracy, theft, or hijack
- Handling damage during loading/unloading
- Warehouse-related loss or misplacement
- General average (shared losses on ships)
Without appropriate insurance, a single mishap can lead to significant financial loss or legal liability.
Faith Logistic offers tailored marine insurance plans backed by top-tier insurers to give you peace of mind with every shipment.
Our Marine Insurance Services
Faith Logistic offers a full range of marine insurance products:
1. Cargo Insurance
- Coverage for containerized, breakbulk, and oversized cargo
- All-risk, named perils, and total loss coverage options
- Coverage from origin warehouse to final destination (door-to-door)
2. Hull & Machinery Insurance
- Covers damage to ship structure, engine, and onboard machinery
- Protection for ship owners and vessel operators
- Ideal for tankers, container ships, bulkers, OSVs, and more
3. Protection & Indemnity (P&I) Coverage
- Third-party liability coverage for injury, collision, pollution, and wreck removal
- Suitable for ship operators and charterers
- Managed via P&I clubs or commercial underwriters
4. Freight Forwarder’s Liability (FFL) Insurance
- Covers liability for cargo loss or damage under your custody
- Ideal for freight forwarders, NVOCCs, and logistics companies
5. Marine Storage & Inland Transit Insurance
- Covers cargo while in bonded warehouses or in road/rail transit within Singapore
- Seamless extension of marine policy coverage
Tailored Coverage for Your Industry
Faith Logistic provides marine insurance for:
- Importers & Exporters: Per shipment or annual open cover
- Freight Forwarders: FFL & cargo liability plans
- Vessel Owners & Operators: Hull & P&I policies
- Oil, Gas & Offshore: Specialized policies for OSVs, rigs, subsea equipment
- Construction Firms: Insurance for plant, heavy equipment in transit
- E-commerce and Retail: Multi-shipment policies for air/sea freight
How It Works – Our Process
Step 1: Risk Assessment
We assess your cargo value, type, route, and mode of transport to recommend the best coverage.
Step 2: Policy Structuring
Choose from:
- Single voyage policy
- Annual open cover (multiple shipments)
- Tailored liability limits and deductibles
Step 3: Coverage Activation
Insurance is activated prior to the start of the journey with documentation and certificates provided.
Step 4: Claims Assistance
In the event of damage or loss:
- Notify us and provide photos, invoices, and shipping documents
- We assist in claims submission and liaise with insurers for fast settlement
Benefits of Choosing Faith Logistic as Your Marine Insurance Partner
1. End-to-End Shipping + Insurance
We are a one-stop logistics and insurance provider. We understand real-world risks and can tailor coverage better than general brokers.
2. Global Underwriter Network
We work with top-rated insurers and P&I clubs to offer reliable, internationally accepted coverage.
3. Fast Turnaround
Get same-day policy issuance for urgent shipments. We also pre-fill required documentation for ease.
4. Transparent Pricing
Clear premium quotes and terms. No hidden exclusions.
5. Dedicated Claims Support
Our in-house claims coordinator will assist with documentation and negotiate payouts with underwriters.
Case Study: Cargo Damage Coverage in Port
An electronics importer shipped high-value servers to Singapore. During unloading, water ingress from port rain damaged several cartons. Faith Logistic’s cargo insurance covered the claim fully within 10 working days.
Outcome: Client recovered the shipment cost and replacement expenses with zero disruption.
FAQs – Marine Insurance in Singapore
Q1. Is marine insurance mandatory?
Not legally mandatory, but strongly recommended—especially for high-value, high-risk, or international cargo.
Q2. Can I get coverage for used machinery or second-hand goods?
Yes, subject to declaration and acceptance by underwriters. We can structure special clauses.
Q3. How are premiums calculated?
Premiums depend on cargo type, value, route, coverage type (all risk vs. named perils), and shipment frequency.
Q4. What documents are needed for claims?
Usually: Invoice, packing list, bill of lading, photos of damage, survey report (if applicable).
Get Marine Insurance in Singapore with Faith Logistic
Looking for a dependable marine insurance company in Singapore? Faith Logistic offers cargo and vessel insurance with fast activation, global acceptance, and expert claims support. Protect your goods and your business today.
Contact us now for a quote or free coverage consultation.