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MARINE INSURANCE

IFFCO TOKIO GENERAL INSURANCE COMPANY
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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

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