Question

Select the option from the choices given below:

______ is a kind of marine policy which covered risk for a fixed period.

• A. Time policy
• B. Voyage policy
• C. Mixed policy
• D. All of the above

Answer 1

Answer: (A)

Time policy

Time policy is issued for a particular time period. Marine losses during this fixed period are insured.

Voyage policy is valid during a particular voyage. Risk is covered from the port of departure to the port of destination.

Mixed policy has the elements of both time and voyage policies.