About Marine Insurance

Use specialised marine insurance policies to protect your goods, ships, and transit activities against a variety of maritime hazards. These policies, which are intended for importers, exporters, and logistics companies, improve commercial agility and confidence in international trade. Marine insurance offers end-to-end protection via efficient underwriting and claims support systems, from the warehouse to the ultimate destination.

Why You Need It

Businesses that transport goods by air, sea, or land run the risk of theft, loss, or damage while in transit. Your shipments are financially protected against such occurrences thanks to marine insurance. It is an essential tool for preserving supply chain operations’ profitability, customer trust, and business continuity.

Frequently Asked Question

Q: What types of policies are available under marine insurance?

A: The main types include Marine Cargo (Inland and International), Hull Insurance (for ships), and Liability Insurance. Coverage can be for single transit or annual contracts.

Q: Is marine insurance applicable to domestic transportation?

A: Yes, inland marine insurance covers transit within India, including by road, rail, and air.

Q: Who is eligible to buy marine insurance in India?

A: Manufacturers, traders, exporters, importers, and logistics providers involved in the movement of goods can purchase marine insurance.

Q: How is the sum insured determined for marine policies?

A: It’s based on the invoice value of goods, plus additional costs like freight, duties, and a markup (typically 10%) to account for potential losses.

Q: What documents are required to make a claim?

A: Documents include the insurance policy, invoice, bill of lading, claim form, survey report, and correspondence with carriers, depending on the nature of the loss.