.png)
Marine
Insurance
.png)
More commonly known as Transit insurance, Marine Cargo Insurance covers the loss or damage of cargo/goods during transit between the origin and the final destination.
​
Marine insurance covers all movement of goods from the start point to their destination, such as:
Within the country (Inland)
From India to a country outside of India (Export)
From any country outside of India to India (Import)
Marine Insurance Coverage
-
Fire
-
Explosion
-
Hijacks
-
Accidents
-
entering the ship, craft, hold, conveyance container lift van, or storage areas.
-
Collisions
-
Overturning
-
Stranded, grounded ship, sunk, or capsized ship.
-
Damages a ship may experience due to seawater
Most common exclusions
-
Loss or damage due to negligence and misconduct
-
Loss or damage due to delay and improper packing
-
Financial default or insolvency of owners, charterers, managers, or operators of the vessel
-
Loss or damage due to wire, strike, riot, and civil commotion
-
Loss or damage arising from the use of nuclear fission, weapon, or any other radioactive force
-
1/4th of collision damage
-
Removal of wreck
-
Contamination due to radioactive rays
-
Attack or damage from biological, biochemical, chemical, or electromagnetic weapons