Personal Lines Insurance Practice Exam

Ocean marine hull insurance can indeed be written for both specific voyages and for one-year periods. This flexibility allows insurers and insured parties to customize coverage based on their needs. A policy may cover a particular voyage, which is useful for vessels that do not have regular routes and may only travel sporadically. Alternatively, if a vessel is used more frequently, an annual policy might provide broader coverage for multiple trips throughout the year. The ability to choose between these options helps businesses manage their risks effectively, depending on their operational requirements at any given time.