Marine & Pleasure boats
The purpose of marine insurance is to cover goods in transit during, land, sea and by air.
Marine Cargo Conditions:
There are three insurance conditions that are mostly used amongst of many existing marine insurance conditions.
These conditions are :
Institute Cargo Clauses “A” 1/1/82
Institute Cargo Clauses “B” 1/1/82
Institute Cargo Clauses “C” 1/1/82
Institute Cargo Clause (Air)
Significant Exclusions:
This Policy does not cover loss or damage due to wilful misconduct, ordinary leakage, improper packing, and delay, war, strike, riot and civil commotion.
Premium:
Rate depends on factors like nature of goods, scope of cover, packing, mode of conveyance, distance and past claims experience.
Extended Coverage:
Like any other insurance, on payment of additional premium, Cargo Insurance conditions can be extended subject to your requirements, below are some examples of the extension cover :
Institute War Clauses 1/1/82.
Institute Strikes Clauses 1/1/82.
Download Marine Insurance application form in
pdf format
Download Pleasure application form in
pdf format
|