Marine Insurance

Marine Insurance

Marine Insurance is one of the most common and widely popular policy taken by companies dealing in products. Marine Insurance is also the oldest insurance policy in the world. Whether you are an importer, exporter, manufacturer, local trader, whole-seller, e-tailer etc. Marine Insurance policy is a must for you. Marine Insurance policy covers financial loss incurred by the insured on account of damage to cargo, ships, other transport means etc. used to transfer goods between two different locations. All goods transport means sea, air, rail, road, etc. are covered in this policy. All types of transports e.g. inland, import & export are covered in this.

  • Marine Sales Turnover policy
  • Marine Open Policy cover
  • Marine Specific Voyage policy

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Proposer has the choice of getting various risks covered under the policy as per Institute Cargo Clause A (ICC A), Institute Cargo Clause B (ICC B), Institute Cargo Clause C (ICC C). ICC A has the widest cover as it covers all risks. ICC B gives wider risk coverage. ICC C has limited risk cover.

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Customer can opt for SRCC (strike, riot, civil commotion) or WSRCC (war, strike, riot, civil commotion) risks cover also by paying additional premium.

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Proposer can get the goods covered at CIF (cost, insurance, freight) or CIF + 10% value of their goods. It’s advisable to get it covered at CIF+10%.

To know more about the Marine Insurance and its benefits please contact us.

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