Marine Insurance
What does the Policy Cover?
What does the Policy not Cover?
Features and Benefits
Types of Policies
       

Types of Policies

  • Specific Policy - A separate Policy for each consignment / transit.

  • Open Policy - This is intended to cover all inland consignments for one year.

  • Open Cover is meant for consignments in exports and imports.

  • Special Storage Risks Policy is granted in conjunction with an Open Policy, Specific Policy or open cover.

  • Annual Policy is issued for 12 months, covers goods belonging to the Insured, which are not under contract of sale and which are in transit by rail/road from specified depots/processing units to other specified depots / processing units

  • Duty Insurance Policy covers customs duty alone if so required by the Insured.

  • Increased Value Insurance Policy covers increased value of the cargo if the market value of the goods at destination port on the date of landing is higher than the c.i.f. and duty value of the cargo

  • Package Policy is also available to cover transits and storage risks incidental to transits for tea, coffee, cardamom and rubber.

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