What is Marine Insurance?
Marine insurance is a specialized insurance policy that provides financial protection against loss or damage to goods and vessels during transportation. It includes coverage for cargo in transit (marine cargo insurance), ships and vessels (hull and machinery insurance), and third-party liabilities (P&I insurance). Whether you’re shipping by sea, air, road, rail, courier, or post, marine insurance ensures your assets are covered from door to door.

✅ Marine Cargo Insurance: Protect Your Goods in Transit

Marine Cargo Insurance, also known as Transit Insurance, covers physical loss or damage to goods while being transported. It protects against perils like fire, accidents, theft, collision, and natural disasters.

• Covers international and domestic shipments
• Available for single or multiple shipments
• Customizable coverage based on risk profile
• Complies with international trade requirements

📦 Types of Marine Transit Policies

1. Open Marine Insurance Policy

• Annual coverage for businesses with regular shipments
• Flexible monthly declarations
• Cost-effective for high-volume cargo movement

2. Specific Voyage Policy

• Single shipment covers from origin to destination
• Ideal for occasional or high-value shipments
• Premiums based on declared value and route

🌐 Coverage Options

✅ Comprehensive Coverage (All Risk):

• ICC A (Import/Export)
• ITC A (Inland Cargo)

✅ Basic Coverage (Named Perils):

• ICC B / C
• ITC B / C

➕ Optional Add-ons:

• War and Strike Cover (SRCC)
• Loading/unloading damages
• Seawater and jettison losses

🔒 What Marine Cargo Insurance Covers:

• Fire and explosion
• Ship or vehicle accidents
• Theft and pilferage
• Seawater damage
• Cargo handling damage
• General average and salvage charges

❌ What It Doesn’t Cover (Exclusions):

• Willful misconduct
• Ordinary wear and tear
• Poor packaging
• Delays in transit
• Nuclear incident
• Inherent defects in cargo

👤 Who Needs Marine Transit Insurance?

• Exporters and Importers
• Manufacturers and Distributors
• Logistics and Freight Companies
• E-commerce and Retail Businesses

If your goods are moving, they need protection. Marine cargo insurance reduces financial risk and ensures supply chain continuity.