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 Marine
Insurance

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More commonly known as Transit insurance, Marine Cargo Insurance covers the loss or damage of cargo/goods during transit between the origin and the final destination. 

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Marine insurance covers all movement of goods from the start point to their destination, such as:
Within the country (Inland)
From India to a country outside of India (Export)
From any country outside of India to India (Import)
 

Marine Insurance Coverage

  • Fire

  • Explosion

  • Hijacks

  • Accidents

  • entering the ship, craft, hold, conveyance container lift van, or storage areas.

  • Collisions

  • Overturning

  • Stranded, grounded ship, sunk, or capsized ship.

  • Damages a ship may experience due to seawater

Most common exclusions

  • Loss or damage due to negligence and misconduct

  • Loss or damage due to delay and 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

  • 1/4th of collision damage

  • Removal of wreck

  • Contamination due to radioactive rays

  • Attack or damage from biological, biochemical, chemical, or electromagnetic weapons

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