Life insurance, health insurance, general insurance , motor insurance, marine insurance, personal accident insurance all at one place for details call us on 09871937669


 

  

Customer Care : 09871-937-669     



FacebookRSS Feed

Want a call back from us!

Please fill in required fields below our executive will contact you shortly.
Our lines are open from Monday to Saturday 9.00 AM till 7.00 PM you will get the call back during this duration.
captcha
Reload

Our Insurers

appolo
iffco-logo
lic aao recruitment 2010 - lic aao online application
new india assurance
religare-health-insurance-logo-e1378564218522
tamil_news_large_335286

Live Chat from 11AM to 6PM (IST)

Loading

Marine & Cargo Insurance

Iffco-Tokio Marine Insurance Policy

It deals with insurance of goods in transit through following modes of transport:

Sea, Rail, Road, Air, Inland waterways, Post Parcels

Types of Policies

While the movement of cargo within the country is covered under inland policies, cargo going out of India/ cargo coming to India from broad are covered under overseas policies.

One has the option of covering the voyage under a specific policy. However, if the voyages are frequent and it is difficult/ cumbersome to take specific policies, option is also available to obtain cover of all dispatches under an open policy.

Scope of Cover

The scope of cover under inland policies are determined by Inland Transit Clauses A, B and C. While C covers the losses arising due to fire and lightning, B covers losses arising due to accident of the carrying vehicle besides whatever is covered in C. Inland Transit Clause A is an All Risk policy.

The scope of cover under inland policies are determined by Institute Cargo Clauses A, B and C.

While C broadly covers the losses arising due to fire/ explosion/ sinking/ stranding/ jettison/ General Average, B covers losses arising due to earthquake, entry of sea water, washing overboard etc besides whatever is covered in C.

Institute Cargo Clause A is an All Risk policy.

All the policies are subject to certain exclusions like inherent vice, losses arising due to war and nuclear perils etc.

Sum Insured

The sum insured is based on cost, insurance, freight and other incidental expenses. This is an agreed value policy.

Premium Rate

Premium rate depends on various factors associate with the risk. Important amongst them are nature of cargo, scope of cover, packaging, mode of conveyance, past claims experience etc.

Our Marine Cargo Insurance will provide you with indemnity & financial protection for loss of or damage to your cargo during transit. Cargo may be carried by Sea, Air, Rail and Land.

Marine Cargo Insurance

It deals with insurance of goods in transit through following modes of transport: Learn More »

Sagar Bandhu Bima Insurance

The Indian market currently provides cover for Hull and Machinery of inland/coastal vessels as per Institute Time Clause Hulls 01.10.1983. Besides covering the H&M this clause also provides cover for 3/4th collision liability. However Institute Port Risks Clause 20.07.1987 provides cover for 4/4th collision liability and also wreck removal subject to the limit of H&M sum insured.

The Indian market currently provides cover for Hull and Machinery of inland/coastal vessels as per Institute Time Clause Hulls 01.10.1983. Besides covering the H&M this clause also provides cover for 3/4th collision liability. However Institute Port Risks Clause 20.07.1987 provides cover for 4/4th collision liability and also wreck removal subject to the limit of H&M sum insured.

While the P&I cover was available to large vessel operator through international clubs, the small vessel operator was fending for himself against potential liabilities incurred by him for wreck removal & liability for collision with FIFO ( fixed and floating objects), if these exceed the value of the vessel itself.
We had formulated Sagar Bandhu Bima Policy keeping in mind the small inland/ coastal vessel operators. This unique product has been approved by IRDA and was launched on 26th November, 2005.

Section 1

Cover for H&M, wreck removal and 4/4th collision liability as per Institute Port Risks Clause 1987.

Section 2

Protection and Indemnity cover for following liabilities
Liability for damage to other vessels
Liability for loss or damage to third party property
Liability for wreck removal
Liability for crew
Liability to persons other than crew
Liability for pollution risks
Liability for damage to cargo



Scan our QR bar code from your Android !

Scan this QR bar code from your android phone camera to save this website link on your Android mobile.You need to install QR bar code scanner in your Android phone.

Get In Touch

 

customercare@saubhagyaenterprises.in
      
      Contact us at: 011-22571217