Marine / Cargo / Transit Insurance

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Marine Insurance policy covers goods,freight and other interests against loss or damage to goods whilst being transported by rail,road,sea and/or air.

Highlights

This policy covers goods,freight and other interests against loss or damage to goods whilst being transported by rail,road,sea and/or air.

Different policies are available depending on the type of coverage required ranging from an ALL RISK cover to a restricted FIRE RISK ONLY cover.

This policy is freely assignable and is basically an agreed value policy.

Scope

Transportation of goods can be broadly classified into three categories:

- Inland Transport

- Import

- Export

Sum insured - or value of the policy would depend upon the type of contract. Usually, in addition to the contract value 10/15% is added to take care of incidental cost.