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GIC – General Insurance Products

Marine Insurance

Protection for goods in transit by sea, road, rail or air against covered losses.

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How we help

Marine cargo insurance covers goods while they are being moved, from the sender's premises to the destination, against loss or damage from the risks named in the policy. Despite the name, it applies to goods moved by road, rail and air as well as by sea.

The breadth of cover depends on the clauses chosen. Wider clauses cover most accidental loss, while narrower ones cover only listed events such as fire, collision or sinking. We explain the difference and set the sum insured by the value of the shipment.

We help with the policy or certificate for each consignment, the documents required and the steps to take, such as a survey, if goods arrive damaged.

What it covers

  • Cargo cover during transit
  • Cover for domestic and international shipments
  • Covered risks as per the policy clauses

Coverage, exclusions, and claim conditions depend on the policy and insurer.

Before you decide

Points to check

  1. 01The clauses chosen and the risks each covers
  2. 02The sum insured, usually invoice value plus an agreed margin
  3. 03Whether cover runs from warehouse to warehouse
  4. 04Whether you need cover for each shipment or an open policy for regular dispatches
  5. 05Packing standards and the documents needed for a claim

Common questions

What people ask us about Marine Insurance

Does marine insurance only cover goods sent by sea?

No. Marine cargo policies can cover goods moved by road, rail, air or sea, in India and abroad.

What should I do if goods arrive damaged?

Record the damage on the delivery documents, inform the insurer and the carrier promptly, and arrange a survey if asked. Prompt notice protects your claim.

What is an open policy?

A policy that covers all your shipments over a period, instead of a separate policy for each one. It suits businesses that dispatch goods regularly.

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Shree Sai Insurance is the practice of Amit Dhirajlal Waghela, an AMFI-registered mutual fund distributor (ARN-166386), not a SEBI-registered investment adviser. The firm earns commission from asset management companies on the schemes it distributes, does not charge a fee for distribution, and does not guarantee returns. Insurance is offered separately from the mutual fund distribution business. Mutual fund investments are subject to market risks. Read all scheme related documents carefully.