When packing up your home ready to move, there are plenty of things on the to-do list. One item that is all too often forgotten is insurance for household goods in transit. This type of personal property policy is designed to protect a person’s belongings while in transit. Here we provide an overview of what […]
Articles Tagged: inland transit insurance
What is an inherent vice exclusion in transit insurance?
With the rising globalisation, businesses are selling their goods on both domestic and international markets. Business expansion increases transit risks. In cross-border or long-distance transport, potential goods damage threat rises, causing financial losses. Availing transit insurance becomes extremely essential for businesses involved in goods transportation. Understanding coverage scope, exclusions, terms, and conditions is vital when […]
A Guide to Marine Cargo Policy
A Cargo insurance policy provides coverage to businesses involved in the shipping of goods across national boundaries on a regular basis. Any unexpected damage to the goods during the transit can also cause an irreparable loss to the businesses. Hence, it is important to get insurance beforehand. Marine insurance policies not only cover the goods […]
Critical illness plans for cancer pay a lump sum if the disease is diagnosed
Published in Mint on 25th June 2018. Written by Abhishek Bondia. What does hypothecation mean? Does it apply to personal accident policies too?—Senthil Hypothecation refers to pledging an asset to a lender. In the event of a default, the lender can confiscate the asset to recover its dues. When an asset is mortgaged, its insurance […]
What documents must be submitted by the insured while filing a Marine Insurance claim?
In order to file a marine insurance claim, it is necessary to submit the following documents by the policyholder – Duly filled original marine insurance policy or certificate Copy of billing lading Survey report/missing certificate Original invoice and packing list along with weight notes Copies of all the correspondence exchanged between you and the insurance […]
Increased value clause in Marine Inland Transit Insurance
The traditional marine insurance policy covers only the market value of the ship commonly referred to as ‘Shipowner’s Interest’. However, there are other additional costs apart from the market value of the vessel requiring coverage. Some costs like sundries for the ship replacement, buying an equivalent new ship, such as office expenses, or brokerage also […]
Why do You Need Marine Insurance Policy?
Insurance is needed to maintain the financial integrity of your life and business. Hence, we need a marine insurance policy. Marine insurance, by this definition, will be needed if the risks you seek cover from are related to marine activities, such as: Transportation through oceans and waterways The building, maintaining or operating of water-going vessels, […]
What is Inland Transit Coverage in Marine Insurance?
In Marine Insurance, Inland Transit Coverage stands as a protective bulwark for goods navigating overland routes. This active insurance component shields shipments against a spectrum of risks, encompassing damages and losses during transportation. As cargo traverses roads and railways, this coverage ensures comprehensive protection. Clauses within Inland Transit Coverage meticulously address diverse perils, from collisions […]
Be on top of your business by buying an inland transit insurance policy
Inland transit insurance aims to protect an individual from financial loss in case the goods he transports get damaged or lost while in transit. Read more to know about the importance of a marine inland insurance policy.
5 Questions to Ask Before Buying Marine Insurance Policy in India
In today’s industrial age, the importance of marine insurance has increased more than ever before. Whether it is an inland transit or export to a far-flung area, a marine insurance policy ensures the complete safety of the consignment and protects it against both natural and man-made perils, like earthquakes, fire, piracy, theft, etc. While a […]