A Marine Insurance Policy reduces your exposure to risk in the event of loss or damage to your goods or assets while in transit.
As a fleet owner, you may have equipped your vessels with Automatic Identification System (AIS) transponders, GPS navigation receivers, echo sounders and weather radars; however as shipping lanes get busier due to increasing trade volumes, the scope for accidents has more than quadrupled in recent times, according to industry estimates.
In case of a marine disaster such as an oil spill, you may face litigation and penalties, the costs of which can be prohibitive. While legal expenses may be considered a part of the costs of doing business, they can have a telling effect on your company’s bottom line. Marine Insurance can help you manage risks and improve the resiliency of your business.
With a comprehensive Marine Insurance plan, your fleet of commercial vessels can operate without any apprehension. This will enable you to control risks arising from damage or loss to valuable cargo worth crores of rupees. For example, if your vessel runs aground or suffers a collision, the costs of towing, repair and overhaul can be very high. A Marine Insurance Policy can help you take care of such risks.
In addition, as merchant vessels are maintenance intensive, the lack of spares or consumables can result in extended unavailability, affecting utilization which can have a cascading effect on profitability.
A potential hijacking on the high seas by pirates is also a contingency that you need to factor in. A standoff involving hijacked merchant vessels may take months to resolve and in potentially result in loss or damage if hostilities break out. With Marine Insurance, you can build a level of redundancy to handle such emergencies.
Investing in Marine Insurance is considered essential to reduce potential risks and ensure the continuity of the company’s value chain.
Here’s why investing in Marine Insurance can make your business operationally resilient:
The costs of doing business multiply substantially when commercial cargoes do not reach their destination due to losses suffered at sea. When you need your Marine Insurance to deliver, Bajaj Allianz is right on the money.
Here’s how you can initiate a Marine Insurance claim by following these simple steps
Visit our Marine Insurance page and click on ‘Register a Claim’
On the new page that opens, select ‘Claim Registration’. Fill in other details like policy number, email, registered mobile number and click on proceed.
In the following page, fill in other relevant details and click on the claim button. You might be required to upload certain documents like the original invoice so as to verify the claim.
Congratulations! You have successfully filed your first claim!
Now, you can register a claim, check the claim status, view and upload documents online Click here
Set Renewal Reminder
Thank you for your interest. We will send you a reminder when your policy is due for renewal.
Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Excecutive will call you back shortly to assist you through the Process.
I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.
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