Marine Insurance

• Theft/Pilferage: The marine insurance policy covers losses or damages to goods/cargo resulting from theft.
• Total Loss of any Package while Loading/Unloading: Marine cargo insurance offers protection against loss or damage to goods or cargo while being loaded or unloaded.
• Malicious Damage: Marine insurance offers protection for the loss or damage to goods and cargo caused by deliberate actions of individuals other than the policyholder or their employees.
• Collision of Goods Carrying Vessel: Marine cargo insurance offers protection against loss or damage resulting from the collision of two vessels.
• Fire, Lightening and Explosion: Marine insurance offers crucial protection for unforeseen events during cargo voyages, encompassing situations such as fires, explosions, lightning, and more.
• Collision, Overturning, or derailment of land transportation: Marine cargo insurance extends coverage to include expenses arising from collisions, overturning, or derailment of land transportation vehicles transporting the cargo. Compensation is granted to address the associated costs and damages resulting from such incidents.
• The overturning of Goods Carrying Vehicle: Marine cargo insurance offers protection for the loss or damage incurred by goods/cargo due to the overturning or derailment of the vessel transporting them.
• Breakage of Bridge: This policy offers protection for any loss or damage sustained by the goods or cargo in transit in the event of a bridge collapse while the vehicle is passing during transportation.
• Earthquake or Volcanic Eruption: This policy ensures that any loss or damage to the goods or cargo resulting from an earthquake or volcanic eruption is covered during the transportation process.
• Stranding, Grounding or Sinking: Marine cargo insurance offers protection for losses or damages incurred by goods in the event of a ship stranding, grounding, or sinking during transportation. Stranding and grounding occur when the vessel gets stuck at some point in between destinations.
• Water Entering the Vessel during Transportation: The marine insurance policy offers protection against losses or damages resulting from the intrusion of sea, river, or lake water into the watercraft. It’s important to note that coverage is not extended to damages caused by rainwater.
• Earthquake or Volcanic Eruption: This insurance policy protects against any loss or damage to goods or cargo resulting from an earthquake or volcanic eruption while in transit.
• General Average Sacrifice Salvage Charges: In marine insurance policies, coverage encompasses general average sacrifice salvage charges. The general average arises in maritime emergencies when sacrifices are made to protect the collective interests of the vessel, cargo, and crew. The policy compensates for the costs associated with such sacrifices and salvage operations.
• Protection against Natural Calamities: Marine insurance provides a safeguard for cargo against the repercussions of natural disasters like earthquakes or lightning strikes. This coverage guarantees that any losses resulting from these unexpected events are included in the policy.
• Jettison: Additionally, the insurance policy extends coverage to instances of jettison, which involves intentionally discarding cargo overboard to mitigate further damage to the vessel or other goods.
• Delivery of Goods or Cargo at Different Locations: The insurance policy offers protection for goods or cargo against covered perils during unloading at the nearest alternative location/port in cases of adverse weather conditions, other than the originally specified location/port. It’s essential to notify the insurer in such situations.
• Contact of Goods Carrying Vehicle with Structure/Animal: The insurance policy includes coverage for losses or damages incurred by goods due to the vessel making contact with structures, animals, or other such entities.

For a comprehensive understanding of the coverage, please consult the policy documents supplied by the insurer.
**The All-risk insurance policy includes coverage for these perils. However, if you hold a basic or different policy, please reach out to your insurance provider to obtain detailed information on the specific coverage.

• Unsuitable & Insufficient Packaging: The marine policy does not provide coverage for the loss or damage to the goods due to improper packaging.
• Unfit Container: The insurance policy excludes coverage for any loss or damage to goods if the transporting container is deemed unsuitable for the safe conveyance of the goods.
• Willful Misconduct: The marine cargo insurance policy excludes coverage for losses or damages to goods resulting from the deliberate actions of the policyholder.
• Damage caused by inherent vice: This coverage refers to situations where goods, objects, or materials undergo self-destruction due to inherent characteristics. Such incidents are not included in the marine insurance policy coverage.
• Mishandling of Goods in Transit: Coverage is not extended by the insurance plan for any loss or damage to goods resulting from mishandling during transit.
• Cargo exceeding standard dimensions: Loss or damage to goods or cargo resulting from exceeding specified carrying capacity due to their oversize is not covered.
• Bulk Cargo: Bulk cargo refers to the loss or damage of unpackaged liquid or dry substances during shipment, and it is not included in marine insurance coverage.
• Weapon, Radioactive or Nuclear Fission: Coverage is not offered by the insurance plan for any loss or damage to goods or cargo resulting from radioactivity or nuclear fission during transportation.
• Temperature Sensitive: The marine insurance policy excludes coverage for the loss or damage of temperature-sensitive goods.
• Ordinary Wear & Tear: Coverage is not offered by the insurance plan for the loss or damage caused by the normal wear and tear of goods.
• Delay: Loss or damage to goods or cargo resulting from delays is not covered by a marine insurance plan.

For an understanding of the exclusions in detail, consult the policy documents supplied by the insurer.

**It is important to understand these limitations, exclusions, and exceptions when evaluating marine insurance coverage. Carefully reviewing the policy terms and conditions is essential to ensure that the coverage aligns with the specific needs and requirements of the insured party. Exclusions may differ among different types of marine insurance policies.