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Marine Insurance

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Marine Insurance Advantage

 
Insure shipments exported and imported. Leave no leg of the transit uninsured. Cover several risks and choose from a wide variety of coverage options. Cover notes universally accepted as proof of insurance.
Cover goods traveling within India by any mode. Well defined and standardized covers leave little ambiguity. The insurance covers domestic transit including warehouse storage for limited periods.
Ensure your ships and boats for all risks. Covers large vessels. These are complex risks where options for piracy, seaworthiness need to be carefully assessed.
Cover goods in transit for a specific journey. Specify the start and end destination. Cover note for such journeys issued within hours. Pricing extremely cost-effective.

Benefits Overview of Marine Insurance

Cover Any Commercial Arrangement
Marine cargo insurance covers several commercial arrangements. The most common forms of contract are FOB (Free on Board), C & F (Cost and Freight) and CIF (Cost, Insurance and Freight). If the contract type is FOB or C&F, the buyer is generally responsible for the insurance. And in the case of CIF, the seller is accountable for the insurance.

Multiple Insurance Structures
Based on how frequently you need marine insurance you can select a structure. These range from Annual Turn Over Policy (ATOP), Specific Voyage, Open Policy, and Annual Policy. The annual or sales turnover insurance is a simple way to insure your yearlong marine insurance requirements in one policy.

Progressive Levels Of Cover
Marine Insurance policy covers all risks included under Institute Cargo Class (A), (B) & (C). The Institute Cargo Class (C) provides limited risk cover as compared to Institute Cargo Class (A) that provides maximum risk cover." Notice the capitalization of Cargo Class. transit is different but capture a similar progression of risk cover.