Question

State the following statement is True or False:

Mixed policy is a combination of time policy and voyage policy.

• A. True
• B. False

Answer 1

The correct option is A True

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.

Example: a policy taken for a ship that travels from Paris to New York in a given time-span of 1st December 2017 - October 2018. Policy expires which ever happen earlier.