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Marine Insurance
Issued as separate policies, this covers the risk of loss, destruction or damage to the goods in transit by sea, air or land. It begins from the time the goods leave the warehouse or place of storage named in the policy and continues during the ordinary course of transit and terminates either:-
1) on delivery to the consignee or final storage at the destination named in the policy, or
2) on the expiry of sixty days on arrival of the vessel at the final port of discharge in respect of transits by sea and thirty days for air transits
whichever occurs first. It is possible to get temporary storage cover for a maximum of three months in case the consignment is delayed for some reason to reach the final destination.
It is also possible to arrange for a Marine Open Cover policy for clients who import regularly. This form of possible ensures that each and every consignment is covered as per the terms of the Open Cover automatically and the Insured is required to send a declaration with full details to the Insurers as soon as they have advise of a possible shipment.
We also provide cover for Hull.
REQUIREMENTS TO PLACE COVER
- Completed questionnaire with details of the consignment
- Copy of IDF, Proforma Invoice, Bill of Lading or Airway Bill
- Payment of premium
DOCUMENTS REQUIRED TO REGISTER A CLAIM
- Copies of Bill of Lading or Airway Bill, Commercial Invoice, Packing List, Import Entry, Inland Consignment Note
- Police abstract report, if applicable
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