Marine Cargo Insurance

Insurance covers the transportation of goods from one place to another, anywhere in the world in transit by sea, air or land against loss or damage caused by a wide range of perils.

Features

  • Covers the risks of loss, damage, expenses and liability to goods insured during transportation.

  • Transportation includes air freight, ocean freight and overland carriage

  • The marine cargo insurance is to indemnify the cargo owner (Seller/ Buyer) and or the financiers

Eligibility

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    All business enterprise and corporations.

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    Cover commences when the goods are first moved in the warehouse

 Major Exclusions

  • Loss damage or expenses attributable to Willful misconduct of the Assured

  • Ordinary leakage, loss in weight, wear and tear of the subject matter insured

  • Loss damage or expenses caused by Insufficiency or unsuitability of the subject matter insured

  • Loss damage or expenses caused by Inherent vice or nature of the subject matter insured

  • Loss damage or expenses arising from unseaworthiness of vessel (when the Assured is privy to such unseaworthiness or unfitness at the time the subject-matter insured is loaded therein

  • Loss damage or expenses caused by delay even though caused by a risk insured against

  • Loss damage or expenses caused by insolvency on financial default of carrier

  • Deliberate damage or destruction of the subject matter insured

  • Use of nuclear weapons

  • War & Strikes