Understanding Marine Insurance

Know your risks, secure your cargo. Goods in transit are exposed at exactly the moments nobody is watching them.

What marine cover means in practice

Despite the name, marine cargo insurance covers goods in transit by sea, air, rail or road. For most Indian businesses, the majority of claims are road transit losses.

Single transit versus annual

A single shipment policy suits an occasional consignment. Businesses that despatch regularly are almost always better served by an open or annual policy, which covers every despatch automatically and removes the risk of forgetting to insure one.

Institute Cargo Clauses

Cover is usually written under Clauses A, B or C. A is all-risks and the widest; C is the narrowest, covering only named perils. The premium difference is often small and the cover difference is not.

Where liability actually sits

A transporter's liability is limited by contract and by law, often to a fraction of your cargo value. Assuming the transporter will make you whole is the most common and most expensive error.

Before you decide

Everything above is general. What is right for you depends on what you are protecting, what you already hold, and what you can sustain. That is a fifteen-minute conversation, and it is free.