What type of insurance is designed to protect property being transported overseas?

• A. Automobile Insurance
• B. Ocean Marine Insurance
• C. Homeowners Insurance
• D. General Liability Insurance

Answer: (B)

Ocean Marine Insurance is specifically designed to cover property that is being transported across oceans and seas. This type of insurance protects goods and cargo from risks associated with marine transport, including but not limited to loss or damage due to sinking, fire, piracy, and bad weather.

As shipping goods overseas involves unique risks related to maritime travel, Ocean Marine Insurance provides tailored coverage that standard property insurance products might not adequately address. This makes it essential for businesses and individuals engaged in international trade, as it ensures that their investments in shipped goods are protected throughout their journey.

In contrast, the other insurance types listed serve different purposes. Automobile Insurance specifically covers vehicles used on roads, while Homeowners Insurance protects residential property and its contents against risks like theft and fire, but does not extend to goods in transit over water. General Liability Insurance focuses on protecting a business from claims of bodily injury or property damage, which is unrelated to the transport of goods overseas.