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Marine
Policy
The
voyage policy is issued to cover up a
specific transit from a particular point
to another.
The cover ceases upon the carrier delivering
the consignment to the town of destination.
Inland Transit
Coverage
IT -A
All Risks are covered unless specifically
excluded under the policy.
IT - B (Basic Cover)
· Fire
· Lightning
· Breakage of Bridge
· Collision with or by the carting
vehicle
· Overturning of carrying vehicle
· Derailment or accident of like
to the carrying railway wagon/ vehicle
IT- C
· Fire
· Lightning
Extended Covers
· SRCC & Terrorism
Exclusions
Wilful misconduct of the Insured
Ordinary Leakage/loss in weight or volume
wear & tear
Improper packing
Loss caused by delay even though delay
is caused by an insured peril
Inherent vice or nature of subject matter
Loss caused by war, strike, riots, and
labour disturbances
OPEN POLICY
Standard Conditions:
Declaration: Each & Every dispatch
will be declared
Minimum sum insured at the initial stage
should be equal to 03 months despatches
Invoice cost of goods, the freight for
which the insured is liable invoice cost
of goods, the freight for which the insured
is liable and the cost of insurance plus
ten percent