What type of coverage is provided for loss of income under ocean marine?

Prepare for the Florida 4-40 Customer Representative License Test. Utilize flashcards and multiple choice questions with hints and explanations. Be ready to excel in your exam!

In the context of ocean marine insurance, the correct choice relates specifically to "freight" coverage. Freight coverage is designed to protect the income derived from the transport of goods over waterways. This coverage comes into play when there is a loss that impacts the cargo being transported, resulting in a loss of income associated with that freight.

When cargo is damaged or lost, the resulting disruption can lead to financial losses for the shipper or carrier who would otherwise earn income from transporting that cargo. Therefore, freight coverage acts as a safeguard against such income loss, ensuring that the party responsible for shipping goods is compensated for the revenues that would have been generated from that freight.

Other choices such as property damage, liability, and insurance generally do not specifically address the loss of income aspect directly related to freight in marine contexts. Property damage pertains to physical damage to the cargo or vessel, liability concerns legal responsibilities towards third parties, and insurance is a broad term encompassing various types of protections, but it doesn't narrow down to the specific context of lost income from freight in ocean marine insurance.

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