What is Marine Cargo Insurance?
Marine cargo insurance protects goods from the risk of loss, damage, pilferage, and theft during transit by sea, land, and air from the port of origin to the final destination. Who is this product for? The product is suitable for individuals and corporates.
- Natural disasters like cyclones, earthquakes, lightning, etc.
- Man-made disasters like theft, violence, and piracy of ships
- Collision, overturning or derailment of land conveyance
- Sinking or stranding of ships
- Expenses such as survey fees, forwarding costs, and reconditioning costs
The Marine Insurance policy covers the loss or damage to property caused due to:
Step 1: Request for quotation
Step 2: Fill proposal form
Step 3: Provide commercial invoice of items transported
Step 4: Premium payment
Step 5: Provide ID for individual and RDB certificate for the company.
Step 6: Sign contract
Below is our step by step application process:
- Loss or damage due to a willful act of negligence and misconduct
- Loss or damage due to delay
- Loss or damage due to 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
- Attack or damage from biological, biochemical, chemical, or electromagnetic weapons
Marine Insurance doesn’t offer any coverage in the following cases: