Marine Insurance

covers loss or damage to goods in transit.

Insurance Required For

Sum Insured
Kind of Cargo
Journey Details
Mode of Transit
Additional Information:

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Organisation Name
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Marine Insurance FAQs

What is Marine Insurance?
Why do you need Marine Insurance?
What is covered in Cargo insurance?
What is an Open policy?
What is Specific policy?

Marine Cargo Insurance

Marine or transit insurance indemnifies or compensates for losses / damages to cargo whilst in transit. Such policies cover, transportation within the country, imports and exports, in fact anywhere in the world. The insurance starts from the moment the shipment of goods/machinery/raw material leaves the manufacturer’s, or any warehouse, from anywhere in the world and remains continuously in force during the voyage until delivery to its destination.

Journey specific, open transit policies or sales turnover policies can be taken by the insured, as per their business requirement.

It is recommended as a business protection measure as the the carrier may not have adequate insurance or may not be liable for damage in the event of a mishap. If cargo is insured adequately prior to its despatch, the financial interest of the relevant party is secured.
Points to consider :
The premium payable for transit insurance is a fraction of the other annual business expenses incurred by an organisation.
The shipment is covered for the risks of the journey, which could be undertaken by multiple modes of transport and transit, by air/sea/rail/road/post/courier and anywhere in the world.
Transit policies are agreed value policies and profits or mark ups can also be covered as part of the sum insured.
A buyer /seller/importer/exporter/contractor and such like can buy cargo insurance depending on the terms of sale or contract.
There are three main categories of Inland Transit policies providing cover for basic risks under ITC B , all risks under ITC A and fire and lightening only under ITC C.
Likewise all overseas transits are subject to Institute Cargo Clauses of ICC A, ICCB and ICC C.

Why Insure Through Easypolicy ?
Easypolicy simply makes insurance easy. Rest assured that we will help you in taking optimum insurance for the protection of your business. We will not only offer quotes from various insurance companies, but also make price-feature comparisons for our users to see what each company has to offer. Moreover, we assist you with important information in a friendly interface, which helps you understand the intimidating world of insurance better, to enable an informed choice.

Disclaimer :
The content given in this site is for information purposes only. In case the information above is any way different to the policy issued, then the issued policy terms, conditions, covers and exclusions will take precedence over the above content.

Please refer to our Marine Insurance FAQs for more Information.
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