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Marine Open Insurance

Marine Insurance
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What is Marine Open Insurance?

Marine Open Declaration Policy enables you to insure all your goods in transit or shipment during the year under a single policy. This policy is of a huge advantage for logistic companies, for multiple transits during the year and a single insurance policy can cover loss or damage of the cargo for multiple transit.

Policy assumptions

Marine Open Declaration policy are of three types, covering movement of goods from one place to another.

Types of Policy

Within the country (Inland)

From India to Country outside India (Export)

From Country outside India to India (Import)

To Know More

Who needs Marine Open Insurance?
  • Entities or individual dealing in multiple shipment of cargo, during the year should buy this insurance policy to protect the goods from loss or damage.
  • Business goods and consignments are usually very high in value and needless to say it is exposed to risk when it is in transit.
Why do you need Marine Open Insurance?

When an entity is dealing in multiple shipments in year, it is very tough and time consuming for the insured to insure goods for each shipments. Rather, one can insure all goods in transit in a single open policy subject to periodic declaration.

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