Wide Transit Coverage

The policy covers transport by sea, air, road, rail, and inland waterways. It applies to both domestic and international shipments.

Start-to-End Protection

Cover starts when the goods leave your premises and continues until they are delivered to the final destination.

Covers Many Types of Loss

The policy protects against risks like fire, theft, collision, overturning, water damage, impact, and pilferage during transit.

Flexible Policy Options

You can choose from different types of marine policies depending on your need—single transit, open policy, or annual turnover-based cover.

Customisable Based on Business Type

Whether you are an importer, exporter, wholesaler, or manufacturer, the terms of the policy can match how your goods move.

Add-On Covers Available

You can include add-ons like warehouse-to-warehouse cover, duty insurance, or strike and riot cover for wider protection.

D2C Businesses

Direct-to-consumer brands that ship products directly to customers need Marine Insurance to protect against losses during delivery.

Export-Oriented Businesses

Exporters face long-distance and cross-border risks. Marine Insurance covers international shipping and keeps export operations secure.

Manufacturing Firms

Manufacturers send raw materials and finished goods across locations. This policy covers both inward and outward cargo.

Logistics Service Providers With Contractual Liability

Transport companies and freight handlers who take responsibility for goods need insurance to manage any accidental damage or loss.

Wholesalers and Distributors

These businesses deal with bulk shipments across states or regions. Marine Insurance helps protect stock in transit.

E-Commerce Platforms

Online sellers ship high volumes of goods daily. Insurance helps cover claims for damaged or lost parcels during delivery.

Single Transit Policy

A Single Transit Policy protects your goods during one specific journey. The cover begins when the goods leave your premises and ends once they are delivered to the buyer. This policy is ideal for businesses or individuals who ship occasionally or have one-time consignments.

It covers risks such as fire, theft, collision, overturning, water damage, and natural disasters during transit. You can use it for transport by road, rail, air, or sea.

This policy is also called Marine Transit Insurance, Single Transit Insurance, Marine Single Transit Insurance, Inland Transit Insurance, or Marine Transit Insurance (Inland).

Real Example:

A trader in Bhopal sent industrial valves worth ₹4.2 lakh to a buyer in Jaipur. The lorry overturned mid-way, and many cartons were damaged. The insurer reimbursed the full value, including ₹15,000 in freight charges and surveyor costs. The trader resumed business without loss.

Single Transit Insurance is essential when your goods are no longer under your control. It ensures that one incident does not cause a big financial loss.

Marine Open Policy

A Marine Open Policy provides automatic cover for all your shipments over a fixed period, usually one year. This policy is useful for businesses that move goods regularly and do not want to take separate policies for each trip.

It starts when the goods leave the warehouse and continues until delivery. It covers risks such as fire, theft, water damage, impact, and mishandling during transport.

This policy is also called Open Marine Insurance, Annual Open Policy, Marine Export-Import Insurance, Marine Declaration Policy, and Marine Open Declaration Policy.

Real Example:

A textile exporter in Solapur sends fabric shipments weekly. The company took an Open Marine Policy instead of buying multiple transit covers.

• ₹24 Lakhs Paid for Fire Damage: One consignment caught fire at the port. The insurer covered the goods and related costs.
• No Delay in Operations: The active policy ensured business continuity.

Open Marine Insurance saves time, reduces paperwork, and provides hassle-free protection for frequent shipments.

Sales Turnover Policy (STOP)

A Sales Turnover Policy covers your annual sales-based transit under one policy. Instead of insuring each shipment, you simply share your turnover figures at intervals. It is a smart option for businesses with high shipment volumes.

It covers imports, domestic movement, exports, and returns — all under one umbrella. The protection starts from dispatch and continues until delivery.

This policy is also known as Annual Sales Turnover Policy, Marine Sales Turnover Policy, Sales-Based Marine Policy, Annual Turnover Marine Policy, and Marine Sales Declaration Policy.

Real Example

A ceramic tile manufacturer in Morbi sends goods across India. Based on projected sales, the company chose a Sales Turnover Policy.

• ₹18 Lakhs Paid for Road Accident: A truck overturned near Bhopal and goods were damaged beyond use. The insurer paid the full loss.
• Continued Dispatch Without Pause: Since the policy covered all shipments, there was no delay in business.

A Sales Turnover Policy helps large businesses stay protected with less paperwork and full-year confidence.

ICC (A) – All Risks Cover

ICC (A) offers the widest level of protection under a Single Transit Policy. It covers almost every unexpected loss or damage during the journey unless specifically excluded in the policy wording. Events covered include:

• Fire, theft, water damage, breakage, overturning
• Collision, sinking, contamination, piracy, and rough handling

However, this clause does not cover losses from delay, wear and tear, poor packing, internal spoilage, or deliberate acts.

Businesses often choose ICC (A) when shipping expensive, delicate, or time-sensitive goods. Though it costs more, it removes confusion and provides the most complete protection.

ICC (B) – Named Risks with Water Damage Cover

ICC (B) provides mid-level protection. It only covers specific events mentioned in the clause but includes some water-related risks as well. Events covered include:

• Fire, explosion, overturning, collision
• Earthquake, lightning, volcanic eruption
• Sea water entering the container or cargo hold
• Goods falling overboard or dropped during loading/unloading

This type of cover works well for general cargo like steel, bulk goods, or equipment, especially if they are being shipped during the rainy season.

ICC (C) – Basic Accident Cover

ICC (C) gives the most limited cover. It protects your shipment against only major accidents. Events covered include:

• Fire, collision, overturning, derailment, or sinking

It does not cover theft, water damage, pilferage, or rough handling. ICC (C) is usually chosen for goods with low value or durable cargo that can absorb small losses without serious impact. It is also preferred when keeping premium costs low is the priority.

Choosing the Right Clause

Your choice depends on the type of goods, their value, and how much risk you are willing to accept.

• ICC (A) is ideal for full protection
• ICC (B) suits moderately sensitive cargo
• ICC (C) fits low-value or tough goods

Road Transport

One of the most common modes within India. Trucks, lorries, or commercial vans are used to move goods between factories, warehouses, and retail points.

Marine Insurance covers road transport risks both for short-distance and long-haul shipments.

• Accidents like collisions or overturning
• Fire or explosion during travel
• Theft or pilferage while the goods are in the vehicle
• Water damage caused by rain or flooding on highways

Rail Transport

Used for bulk cargo across long distances. Goods are packed in wagons or containers and moved via goods trains between states. Marine Insurance covers:

• Derailments
• Collisions
• Fire or explosion in transit
• Losses during loading or unloading at railway yards

Rail is cost-effective, but risks remain.

Air Transport

Fastest mode for urgent or international deliveries. Goods are flown as cargo or with commercial airlines. Marine Insurance covers:

• Damage due to air crashes or emergency landings
• Loss from rough handling at airports
• Fire or explosion on board
• Theft or non-delivery at destination

Important for high-value, fragile, or perishable goods.

Sea Transport

Essential for import-export and bulk movement. Goods are shipped in containers across oceans and rivers. Marine Insurance protects against:

• Sinking or capsizing
• Fire on the vessel
• Water damage due to storms or leakage
• Theft or pilferage at sea
• Damage during loading or unloading at ports
• General average – shared costs if ship is sacrificed to save cargo

This is the core mode covered in traditional Marine Insurance.

Inland Waterways

Goods move via rivers, canals, and backwaters in states like Kerala, Assam, and West Bengal. Useful where roads or rails are limited. Marine Insurance also covers:

• Capsizing or collision of small vessels
• Water damage from rain or submersion
• Handling damage during loading/unloading

Cargo is carried on barges or small boats.

Why This Matters

Most cargo journeys involve more than one mode of transport. For example, a shipment may travel from a factory by road, reach the port, move by sea, and finally reach the buyer by rail or truck. Marine Insurance provides continuous cover across all these modes — from dispatch to delivery — ensuring that your cargo is protected at every step.

1. Inland Marine Insurance (Within India)

This policy covers the movement of goods within India, using road, rail, domestic air, courier, or inland waterways.

• It applies to any domestic leg — whether you are sending raw materials to a factory, or finished goods to a customer.
• The cover starts from the time goods leave your warehouse and continues until they reach the delivery point within India.
• Insurers usually issue this policy with Institute Cargo Clauses (A), (B), or (C), depending on the risk cover you want.

Useful Add-Ons:

• RSMD (Riot, Strike, and Malicious Damage) is a common add-on that protects against political unrest or labour strikes.
• You can choose between a Specific Policy (for one-time shipments), an Open Policy (for regular shipments), or a Sales Turnover Policy (for high-volume businesses).

2. Import Marine Cargo Insurance (Goods Coming Into India)

Import Marine Cargo Insurance covers goods that are being imported from another country into India. It ensures your cargo is protected across the entire journey — from the foreign seller to your warehouse in India.

• This is usually issued on a warehouse-to-warehouse basis.
• If your sales term is CIF (Cost, Insurance, Freight) or CIP (Carriage and Insurance Paid), then cover starts from the overseas seller’s warehouse.
• If the sale term is FOB (Free on Board) or FCA (Free Carrier), then your insurance usually starts once the goods are loaded on the ship or handed to the first carrier.

It covers risks such as:

• Sea or air transit damage
• Theft, fire, or water damage
• Handling losses at international ports

3. Export Marine Cargo Insurance (Goods Leaving India)

This policy protects goods that are being exported from India to another country. Like import cover, this is also issued as warehouse-to-warehouse, unless the Incoterms specify otherwise.

• If the export term is CIF or DAP, cover continues until delivery to the buyer abroad.
• If the sale term is FOB, the insurance ends once the goods are loaded at the Indian port.

It covers:

• Movement within India to the port
• Sea or air transit
• Losses at foreign ports or delivery points

Exporters often buy this policy to meet buyer requirements, protect their interests, and ensure smooth trade.

4. Coastal Marine Cargo Insurance (Between Indian Ports)

Coastal Marine Cargo Insurance is for goods transported between Indian ports by sea using coastal vessels. It is commonly used for bulk or heavy cargo like cement, steel, or industrial equipment.

This policy:

• Covers movement strictly along Indian coastline — within 150 nautical miles from the shore

Refers to Institute Cargo Clauses, but also includes Indian Coastal Vessel Warranties, such as:

• Age and classification of the vessel
• Limits on sailing distance
• Crew and maintenance compliance

It protects against:

• Collision, stranding, or capsizing
• Fire and water damage
• Handling losses at Indian ports

5. Cross-Trade Marine Insurance (Foreign-to-Foreign Transit)

This is not the same as import or export. Cross-trade (also called Third-Country Transit) refers to cargo movement between two countries outside India, where the Indian party is the buyer, seller, or trader — but the goods never enter India.

Example: An Indian trading firm arranges a shipment from Vietnam to Nigeria without any leg touching Indian soil.

• This type of cover requires a special Cross-Trade or Third-Country Transit Endorsement from the insurer.
• It is commonly used by Indian exporters, manufacturers, or traders operating in global markets.

1. Type of Goods Being Shipped

The kind of goods you are moving directly affects the risk — and the premium.

• Higher-risk items like electronics, glass, chemicals, or perishable goods are more likely to be damaged or stolen.
• Lower-risk items such as metals, packaged goods, or machinery parts usually carry a lower premium.

The more sensitive or valuable the cargo, the higher the risk, and therefore the higher the cost of cover.

2. Distance and Route

The longer and more complex the journey, the greater the risk of loss or damage.

• A shipment passing through multiple states or countries increases the exposure.
• Routes known for poor roads, theft, or political unrest also raise the risk.

Short, safe, and direct routes are cheaper to insure than long or risky ones.

3. Type of Cover Chosen (ICC A/B/C)

Your choice of Institute Cargo Clause affects the level of cover — and the premium.

• ICC (A) offers all-risk cover and comes at a higher price.
• ICC (B) covers named risks like fire, overturning, and water damage.
• ICC (C) provides the most basic protection, often at the lowest cost.

Choosing wider protection means paying more but getting better peace of mind.

4. Value of Goods Declared

Premium is calculated on the sum insured, which includes:

• Invoice value of the goods
• Freight costs
• A buffer (usually 10%) for incidental charges or expected profit

A higher declared value means a higher premium — but also ensures full compensation in case of loss.

5. Mode of Transport

The risk level changes based on how the goods are being moved:

• Sea freight is exposed to water damage, fire, and handling issues at ports.
• Road transport carries accident, theft, and rough handling risks, especially on highways.
• Air transport is usually faster and safer, and sometimes attracts a lower premium for high-value but small shipments.

The chosen mode affects the insurer’s risk assessment and pricing.

6. Claims History

Your track record with insurance matters.

• A clean claims history can lead to lower premiums or discounts.
• If you have raised multiple claims in the past, insurers may consider you high-risk and charge more.

Insurers reward businesses that handle cargo responsibly and submit clean documentation.

Notify Us

As soon as the loss or damage happens, contact us within 2 days. Share all relevant details and documents, such as photos or reports. We will make sure the process starts without any delays.

Surveyor Visit

Once notified, a surveyor will visit your site within 1-2 days to assess the damage. Please avoid moving any damaged items until the surveyor arrives. After that, we will take care of the next steps.

Submit Required Documents

We will guide you through submitting the necessary documents, including the claim form, incident notes, and financial records. Our team will ensure everything is submitted correctly and on time.

Claim Assessment & Approval

Once the documents are submitted, the surveyor will evaluate the claim and provide a settlement amount based on your policy terms. After approval, the insurer will finalise the settlement.

Payment Processing & Claim Closure

Once the settlement is approved, payment will be processed and issued to you or your beneficiary. After payment, the claim will be closed. If any further issues arise, we will be here to support you until they are fully resolved.

Consignment Theft During Highway Transit

In 2023, a garment exporter in Ludhiana was transporting a shipment of branded winter jackets to a wholesaler in Bengaluru. Midway through the journey, the truck was hijacked overnight near Nagpur. The police filed a theft report, and the business raised a claim under its open Marine Insurance Policy. The insurer approved a settlement of ₹9.3 lakhs for the stolen goods and ₹18,000 for emergency transport charges to resend the order. The payout helped the exporter fulfil the delivery without financial strain.

Damage Due to Vessel Sinking at Port

In 2022, a spices trader in Kochi was exporting containers of packed black pepper to a buyer in Dubai. While the vessel was docked at the port before departure, it partially sank due to structural failure, submerging the loaded containers. The goods were covered under an export Marine Insurance Policy with ICC (A) clause. The trader filed a claim and received ₹27 lakhs for the total loss, including freight and incidental costs. This helped the business recover quickly and maintain its export commitments.

Collision Damage During Cross-State Shipment

In 2021, an industrial parts supplier in Pune sent a truckload of machinery components to a factory in Hyderabad. On the way, the vehicle collided with another lorry on a highway, causing multiple crates to shift and break. The goods were insured under a Single Transit Policy. A claim was filed with proper documentation, and the insurer paid ₹6.8 lakhs for cargo damage and ₹9,200 for unloading and salvage operations. The timely payment allowed the supplier to resend fresh components and maintain the project timeline.