Marine Insurance (In Land Transit Road/Rail)

Marine Insurance cover starts right from the movement of goods / machinery / Raw Material leaves the foreign / Indian manufacturers’ warehouse & remain continuously in force during voyage, inland transit to the factory site / warehouse. Loss that occur during transit of goods either by rail, road, sea or air.

Marine Insurance can broadly be divided into two classes:

  • Cargo Insurance
  • Hull Insurance

There are Two Types of Marine Policy

  • Open Cover Policy
  • Special Declaration Policy (Adjustive Policy) Rate – 0.02 paisa to 1 Rs.