Business today knows no boundaries. We have an access to products and services across borders as countries continue to globalise. However the farther our goods travel the more risk they are exposed to. That’s why Bajaj Allianz brings to you the marine cargo insurance cover, which compensate losses of goods in transit.

Scope of cover :
It covers transit of goods :

1. By Sea. (All ocean voyages and inland water ways.)
2. Send by post or parcels
3. Bay rail/road/Air.

Basis of Sum Insured

Marine Insurance policies are issued on ‘agreed value basis’ and should be based on invoice and covering incidental expenses.

What are the types of Coverage offered ?
The following are the type of covers available: All Overseas Transits are subjected to Institute Cargo Clauses, given by Lloyds Underwriter and Technical Committee, London. The brief coverage is:

Risks	Institute Cargo Clauses
(Proximate Cause)	A (All risk Cover) B (Wider Cover) C (Basic Cover)
Stranding , Grounding, Sinking or Capsizing Yes Yes Yes Overturning or Derailment of Land Conveyance Yes Yes Yes Collision of Ship or Craft with another Ship or Craft Yes Yes Yes Contact of Ship, Craft or Conveyance with anything other than Ship or Craft (excludes Water but not Ice) Yes Yes Yes Discharge of Cargo at Port of Distress Yes Yes Yes Loss overboard during Loading/Discharge (total loss only). N/A Yes No Fire or Explosion Yes Yes Yes Malicious Damage Yes No* No* Theft/ Pilferage Yes No No General Average Sacrifice Yes Yes Yes Jettison Yes Yes Yes Washing Overboard (deck cargo) Yes Yes No War Risks No* No* No* Seawater entering Ship, Craft, Hold, Conveyance Container Lift Van or Place of Storage Yes Yes No River or Lake Water entering same Yes Yes No * Can be bought back