Best and Cheapest Marine Insurance in Kenya: Covers Starting from Kshs. 2500 per Shipment
Marine cargo insurance protects your goods from risks during transit by sea, air, road, or rail. It covers losses due to damage, theft, and other unforeseen events. With the complexities of global trade, having the right insurance is crucial for every business.
Kenyan law mandates marine cargo insurance for businesses with an insurable interest in their shipments. This legal framework ensures that your cargo is protected and that you comply with regulations. For a more detailed introduction, read our article an introduction to marine insurance in Kenya: protecting your cargo on the high seas.
Key Takeaways
- Marine cargo insurance is legally required in Kenya
- Step by Step offers comprehensive coverage starting at KES 2,500
- Digital certificates streamline the cargo clearance process
- Coverage includes transit losses, maritime perils, and theft protection
- Local expertise ensures tailored solutions for Kenyan businesses
Table of Contents
Legal Requirement for Marine Cargo Insurance in Kenya
Marine cargo insurance is a legal necessity in Kenya. The Marine Insurance Act and the Insurance Act require businesses to secure insurance coverage for their shipments. This requirement protects your business and facilitates smooth cargo clearance.
Regulatory Compliance
- Ensures adherence to the Marine Insurance Act and the Insurance Act
- Helps avoid fines and delays at ports
Smooth Cargo Clearance
- Digital marine certificates are mandatory
- Simplifies the clearance process with KRA
By choosing Step by Step’s Marine Insurance, you not only comply with the law but also protect your valuable assets during transit.
Features and Benefits of Step by Step’s Marine Insurance
Step by Step’s Marine Insurance stands out for its comprehensive coverage, affordability, and efficiency. Here’s what makes our product the best choice in Kenya.
Comprehensive Coverage
Our insurance policy covers a wide range of risks encountered during transit. It ensures that your cargo is protected against various hazards:
Transit Losses
- Coverage against damage or loss during transportation
- Protection from theft and pilferage during loading and unloading
Maritime Perils
- Safeguards against natural events like storms, floods, and collisions
- Covers risks such as jettison, sinking, and other maritime incidents
Additional Risks
- Optional add-ons for war risks and extraneous perils
- Extensive protection that adapts to your business needs
Affordable Premiums
Step by Step’s Marine Insurance offers competitive pricing without compromising on quality:
Starting Price
Basic premium starts at just KES 2,500
Transparent Pricing Structure
- Premiums are calculated based on cargo value, freight, and associated incidentals
- Optional extensions available at competitive rates for enhanced protection
Digital and Fast Processing
Our fully digital system makes the process quick and efficient:
- Digital Certificates: Issued online and transmitted directly to regulatory bodies, reducing manual errors and accelerating cargo clearance
- Streamlined Claims Process: Fast, efficient, and transparent claims handling with digital submission of necessary documentation
Local Expertise and Support
Step by Step is a locally-based provider offering tailored support and expert advice:
- Local Knowledge: In-depth understanding of Kenyan market dynamics with customized solutions addressing local regulatory challenges
- Personalized Support: Local agents available for prompt assistance with faster resolution of claims and customer queries
Key Coverage Areas
Below is a table summarizing the key areas covered by Step by Step’s Marine Insurance:
| Coverage Area | Description |
|---|---|
| Transit Losses | Protection against damage or loss during transportation by sea, air, road, or rail |
| Maritime Perils | Coverage for natural events such as storms, floods, and collisions |
| Theft & Pilferage | Security against theft during loading, unloading, and transit |
| Optional Extensions | Add-ons for war risks and other extraneous perils |
Pricing Structure
Our pricing is transparent and competitive. The table below provides a breakdown of the pricing structure for Step by Step’s Marine Insurance:
| Pricing Component | Details |
|---|---|
| Basic Premium | Starts at KES 2,500 |
| Calculation Basis | A percentage of the cargo cost, freight, and incidentals |
| Optional War & RSCC Extension | Additional 0.05% of the cargo value for enhanced protection |
| Stamp Duty (Sea/Air Freight) | Additional charges as applicable based on freight mode |
How Step by Step’s Marine Insurance Protects Your Cargo
Step by Step’s Marine Insurance ensures that your cargo is protected from departure to arrival. Our comprehensive approach covers a wide range of risks during transit.
Protection Against Transit Losses
Whether your cargo is transported by sea, air, road, or rail, our policy provides robust protection. The coverage is designed to mitigate risks at every stage of the journey.
- Multi-Modal Protection: Covers various transport modes to ensure consistent protection and secures your cargo regardless of the transit method
Coverage Against Maritime Perils
Natural disasters and other maritime perils can strike unexpectedly. Our policy covers:
- Weather-Related Risks: Storms, floods, and other natural calamities
- Operational Hazards: Collisions, jettison, and sinking incidents
- Additional Coverage: Option to include extraneous perils and war-related risks for extra security
Enhanced Claims Process
A swift and transparent claims process is critical during emergencies. Step by Step’s Marine Insurance streamlines claims with a digital system.
- Efficient Documentation: Submit necessary documents such as Commercial Invoice, Bill of Lading, and Packing List easily
- Rapid Response: Digital cargo surveillance ensures prompt assessment of any damage
- Quick Settlement: Our dedicated team processes claims swiftly to minimize business disruptions
How to Get Covered with Step by Step’s Marine Insurance
Getting covered with Step by Step Insurance is quick and easy. Follow these simple steps:
- Visit Our Portal: Go to StepByStepInsurance.co.ke/get-a-quote/
- Submit Your Details:
- Name
- Email*
- Phone Number*
- Type of Insurance* (Select “Marine Insurance”)
- Agent Consultation: Our team will contact you within a few minutes to tailor a plan based on your specific needs
| Step | Action |
|---|---|
| 1. Visit Our Portal | Go to StepByStepInsurance.co.ke/get-a-quote/ |
| 2. Submit Your Details | Provide your Name, Email*, Phone Number*, and select “Marine Insurance” under Type of Insurance |
| 3. Agent Consultation | Our team contacts you within minutes to customize your insurance plan |
Frequently Asked Questions (FAQs)
Q1: Why is marine cargo insurance mandatory in Kenya?
A1: Marine cargo insurance is legally required under Kenyan law. It protects your cargo and ensures smooth clearance through ports, avoiding penalties.
Q2: What does Step by Step’s Marine Insurance cover?
A2: Our policy covers damage or loss during transit, including maritime perils, theft, and operational risks. Optional add-ons provide extra protection for war-related risks.
Q3: How much does the policy cost?
A3: The basic premium starts at just KES 2,500. Prices vary depending on the cargo value and additional coverage options selected.
Q4: How do I purchase a policy?
A4: Purchasing is easy. Visit our portal, submit your details, and receive a consultation from our team. The process is fully digital and user-friendly.
Q5: How is the claims process handled?
A5: Our claims process is streamlined with digital documentation and cargo surveillance, ensuring prompt and efficient claim settlements.
Conclusion
Marine cargo insurance is vital for businesses engaged in international trade. In Kenya, it is not just a financial safeguard but a legal requirement. Step by Step’s Marine Insurance offers robust protection starting at just KES 2,500. With comprehensive coverage, affordable pricing, and a streamlined digital process, our policy is designed to meet the needs of modern businesses.
Investing in marine cargo insurance means protecting your goods from the unpredictable nature of transit. With Step by Step’s Marine Insurance, you secure your cargo against transit losses, maritime perils, and other risks. Our policy ensures regulatory compliance and provides local expertise and support.
Take the next step towards securing your business assets. Visit our portal, submit your details, and let our team tailor a marine insurance plan to fit your needs. Explore more about our offerings by reading additional resources such as what you need to know about locally issued marine cargo insurance in Kenya and best marine cargo insurance in kenya 2025 comparing the top providers.
By choosing Step by Step’s Marine Insurance, you not only comply with legal mandates but also gain a reliable partner dedicated to protecting your cargo from departure to arrival. Get covered today and enjoy peace of mind knowing that your shipments are fully protected with the best marine cargo insurance in Kenya.
