What Factors Define Your Auto Insurance Premium in Victoria? Different Types of Marine Insurance Policy | Page 5

2. Time Policy
 Valid for specified/fixed time is known as time period policy.
 It is generally valid for 12 months and is categorized as a time
insurance policy.
 The marine threats during this periods are insured.
 For full insurance this policy is suitable.
 This policy is for one year but we can make this policy for less than 1
year also.
 This policy is mainly used for hull insurance then for cargo insurance.
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