Marine Insurance

Cargo Insurance Policy

Scope of cover:
This policy provides cover against loss or damage to cargo during transit (Inland /Import/Export) from one place to another by any one or more mode of transport. You can take marine policy, if you are Buyers, Sellers, Buying Agents and Contractors or engaged in the business of movement of goods.

Type of Covers:

1) Export/Import Cargo Insurance:-
Institute Cargo Clause (A)
Institute Cargo Clause (B)
Institute Cargo Clause (C)

2) Inland Cargo Insurance:
Inland Transit (Rail or Road) Clause A (All Risks) ITC A
Inland Transit (Rail or Road) Clause B (Basic Cover) ITC B
Inland Transit (Rail or Road) Clause C (Fire Only) ITC C
Other prevailing clause as per market agreement.

Sum Insured:
This is an agreed value policy. Normally, insurance is taken for CIF+10%

Specific Exclusions
This Policy does not cover loss or damage due to willful misconduct, ordinary leakage, improper packing, delay, inherent vice, war, strike, riot and civil commotion.

Main Extension

Inland Cargo Insurance:-
Extensions available include strike, riot and civil commotion.

Import Cargo Insurance:-
Extensions available are include War, Strike, Riot and Civil Commotion and Duty Insurance Cover.

Export Cargo Insurance:-
Extensions available are include War, Strike, Riot and Civil Commotion and Duty Insurance Cover.