Marine Insurance
Who Should Take Such Policy?
Traders, Exporters, Importers, Individual sending Household Items, Manufacturer.
Indicative Coverage:
Insurance of goods in transit dispatched from and to any place and by means of sea, air, rail or road.
Common Exclusions:
- Willful misconduct.
- Ordinary leakage, loss in weight or volume.
- Insufficiency or unsuitability of packing or preparation of Subject Matter.
- Inherent Vice or Nature of Subject Matter.
- Delay, even though caused by an insured peril.
- Insolvency/Financial default.
- Misuse or loss of carrier's receipt.
- War and warlike perils, Derelict mines/bombs.
- Nuclear Risks.
- Strike, Riot, Terrorism (additional cover).
- Capture by legal authority.
- Unseaworthiness or unfitness of Vessel (Ocean Going Vessel).