What exactly is P&I and what can it do for me?

Home » Blog » Blog Archives » What exactly is P&I and what can it do for me?

Protection and indemnity insurance,or P&I, is a policy that covers maritime activities. It addresses cargo, crew, wreckage, spills, and other types of problems that might come into play out on open waters. If you have a large boat, a yacht, or a cargo ship of any kind, you’ll want to consider a policy like this. With PNI insurance, you’ll have the coverage you need if something should go wrong with the ship, and the crew and cargo will also be protected. That’s very important when you’re operating a vessel.

If you aren’t able to insure the cargo, it’s unlikely that a person will want to contract with you to move goods from one port to another. The same can be said for crew members, as they might not want to work on a ship where they feel they won’t be adequately protected if something should happen to them. Overall, it’s much better to have strong coverage. If you aren’t properly insured, after you have a problem is not the time to find that out. An independent agent can help you get the coverage you need.

For information on auto insurance in the Oakley, CA area, contact Thomas Agers at Agers Insurance today.