Import and Export Marine

Import-export marine insurance protects goods during transit.

Understanding Cargo Insurance in Marine Insurance Context

Cargo insurance is a specialized subset within marine insurance, encompassing the protection of goods during transportation. Marine insurance, meanwhile, covers a broader spectrum including onshore and offshore properties like container terminals, ports, and oil platforms, as well as hull, marine casualty, and marine liability. For shipments via mail or courier, shipping insurance is typically employed instead.

Why is Import or Export Marine Insurance necessary?
  • Open Cover Cargo Insurance Policy:
  • This kind of policy is issued for up to 12 months and is suitable for both exported and imported goods.
  • Specific Voyage Policy:
  • Usually issued before the transit begins, this cover is suitable for single transit.
  • Annual Policy:
  • These provide coverage to goods transferred through the sea, rail, and road through depots hired or owned by the policyholder. This marine cargo insurance can't be transferred.
  • Open Policy Cargo Insurance Policy:
  • This is issued for 12 months and only covers the goods in transit within India. Depending on your cargo, the number of times the cargo needs to be shipped, and the duration your items need to be protected,you can buy marine insurance online according to your needs without any hassle.
Get Quote Now
Scroll