Marine Cargo

Items Covered

This policy provides cover for goods and/or cargo while in transit via road, rail, sea, or air.

Perils Covered

You are insured against loss or damage to property (including legal liability for general average and salvage where applicable) while items are in transit by road, rail, sea, or air.

The damage may result from an accident resulting to overturning, collision, derailment, fire or due to lightning striking the conveying vehicle, vessel, or aircraft.

The aforementioned scenarios may occur while loading, transportation or during unloading.

Basis of Valuation

CIF value or CIF value plus 10% - 15% (to take care of inland freight/taxes/duties and expenses). This cost should be the value to be insured.

Claims Process

You will require the following to get your claim processed;

Documents you'll need
  1. Claim Form duly filled
  2. Delivery Note
  3. Declaration particulars
  4. Claim computation
  5. Invoice
  6. Monetary claim lodged on the Carrier under registered post
  7. Printed copy of Bill of Lading (both sides)
  8. Packing list.
  9. Survey Report

Glossary

CIF
Cost, Insurance and Freight