Marine Insurance covers loss or damage of goods during normal course of transportation. In case of any loss or damage during transportation/voyage the same would be settled according to the respective Institute Cargo and/or Rail/Road Clauses. The following are three types of Marine Cargo Insurance:-
- Import Insurance Import of all types of shipments through Sea, Air and/or Rail/Road from other countries is called “Marine Import Insurance”.
- Export Insurance All types of shipments being sent to other countries through sea, air and/or Rail/Road is called “Marine Export Insurance”.
- Transit Insurance This insurance covers loss or damage during transportation of goods within the country through sea,air, and/or Rail/Road.
Loss Compensation
The following risks are supposed to be happening during voyage:-
- Loss due to theft of goods
- Loss due to Snatching of goods
- Loss or damage due to Fire
- Loss or damage due to breakage/wear and tear of goods
- Loss or damage due to terrorism
The Marine Insurance compensates loss or damage due to above mentioned risks and/or like nature. For further clarification you may contact our nearest office or phone numbers of the Company.
Necessary required information for Marine Insurance
- Name of Insured
- Complete address of consignee/consignor
- Shipping advice, truck and/or Bilty Nos. and date of shipment/dispatch etc.
- Complete details of goods.
- International Packing standard etc.