Marine Insurance Service

Marine Cargo Policy covers goods (machinery, raw materials, finished goods etc) during transit under a contract of affreightment.
What does this Policy cover?This Policy covers physical loss or damage to insured goods during transits by » Sea » Post or parcels » Rail/Road/AirThe scope of cover shall be determined by the Institute Clauses attached to the Policy. All Overseas Transits are subject to Institute Cargo Clauses A, B C given by Institute of London Underwriters.The brief coverage is as under:
Risks (Proximate Cause) » Stranding, Grounding, Sinking or Capsizing » Overturning or Derailment of Land Conveyance » Collision of Ship or Craft with another Ship or Craft »Contact of Ship, Craft or Conveyance with anything other than Ship or Craft (excludes Water but not Ice) » Discharge of Cargo at Port of Distress » Loss overboard during Loading/Discharge (total loss only). » Fire or Explosion » Malicious Damage » Theft/ Pilferage » General Average Sacrifice » Jettison » Washing Overboard (deck cargo) » War Risks » Seawater entering Ship, Craft, Hold, Conveyance Container Lift Van or Place of Storage River or Lake Water entering same
- Can be covered on payment of extra premium.