Marine insurance refers to the insurance of loss or damage of the goods shipping. In  course of the carriage of goods, specially established for maritime transport.  Marine insurance is generally purchased by the carrier. But it also be purchased separately by the principal as required. Marine insurance is divided into basic risks and additional risks, among which the basic risks are FREE from Particular Average (FPA), with Particular Average (WPA) and all Risks.

As you know, when the ship is sailing, the situation is changeable that accidents are easy to happen.There will be both navigational and accidental risks.Containers flooded, wind blown into the water, ships damaged, or workers on strike...

Marine insurance, as other insurance, the insured must have an insurable interest in the subject insured.This insurable interest, in case of international freight. It is embodied in the ownership of the subject insured and in the liability for the risk to be assumed.Within

 FOB, FCA, CFR and CPT transactions, the risk of goods crossing the ship's rail shall be borne by the buyer.The buyer has an insurable interest in the event of any loss or damage to the goods.

Therefore, the buyer, as the insured, shall insure the goods with the insurance company. The Marine insurance contract shall come into force only after the goods have crossed the ship's rail.The buyer has no insurable interest until the goods have crossed the ship's rail, and therefore does not fall within the scope of Marine insurance covered by the insurer against the buyer.In a CIF or CIP transaction, insurance is the contractual obligation of the seller, who has title to the goods and, of course, has an insurable interest.The seller shall insure the goods with the insurance company and the insurance contract shall become effective upon shipment from the place of shipment.

In order to avoid unnecessary loss, I suggest you buy Marine insurance.