General Insurance · verified 5 September 2026

Marine Insurance

Protect goods and transport interests while value is in motion.

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What is marine insurance?

Marine insurance includes cargo in inland and international transit, as well as specialised hull cover. A policy is built around commodity, packing, voyage, conveyance, loss history and clause set. Claims depend heavily on documents, timely survey and preserving recovery rights against carriers.

Premium illustration

Marine premium is risk-rated, not a fixed tariff

Illustrative cargo value	Assumed training rate	Illustrative base premium	Important
₹10,00,000	0.10%	₹1,000	Example only; not a quotation
₹10,00,000	0.25%	₹2,500	Example only; not a quotation
₹50,00,000	0.10%	₹5,000	Before taxes/minimum premium/terms

What changes the real premium: commodity, packing, mode, route, storage, theft attractiveness, past losses, clause set, deductible, sum insured, turnover and claims controls. Ask for a written quote and wording.

Plain-language guide

Important terminology with examples

Definitions are educational summaries. The issued policy wording and schedule control every claim.

Marine cargo

Covers goods while moving by road, rail, air, sea or courier under chosen clauses.

Example: The route, packing, commodity and transit must be declared.

Marine hull

Covers vessels and related interests; it is different from cargo cover.

Example: Hull underwriting is specialised and survey-driven.

Institute Cargo Clauses A/B/C

Common clause sets with different breadth; A is broader but still has exclusions.

Example: ‘All risks’ never means every possible loss.

Open policy/open cover

A continuing arrangement for repeated shipments with declarations.

Example: Turnover, limits and reporting discipline matter.

Specific voyage policy

Cover for one stated consignment and transit.

Example: Dates, locations and conveyance appear on the certificate.

Insurable value

Invoice value plus permitted additions such as freight and expected profit as agreed.

Example: Do not simply use sale price without checking the basis.

General average

Shared maritime loss when sacrifice or expense saves the common venture.

Example: Cargo owners may need a guarantee before release of goods.

Salvage/subrogation

Recovery rights in damaged goods and against responsible third parties.

Example: Preserve carrier notices, survey evidence and damaged goods.

Clickable insurer directory

Companies offering relevant covers

Open a company page to review current plan families, eligibility guidance, coverage, exclusions and official documents.

National Insurance

Marine Cargo policies

Marine Insurance

What is marine insurance?

Marine premium is risk-rated, not a fixed tariff

Important terminology with examples

Marine cargo

Marine hull

Institute Cargo Clauses A/B/C

Open policy/open cover

Specific voyage policy

Insurable value

General average

Salvage/subrogation

Companies offering relevant covers

National Insurance

The New India Assurance

The Oriental Insurance

United India Insurance

Bajaj General Insurance

Cholamandalam MS General Insurance

Generali Central Insurance

Go Digit General Insurance

HDFC ERGO General Insurance

ICICI Lombard General Insurance

IFFCO Tokio General Insurance

IndusInd General Insurance

Liberty General Insurance

Magma General Insurance

Raheja QBE General Insurance

Royal Sundaram General Insurance

SBI General Insurance

Shriram General Insurance

Tata AIG General Insurance

Universal Sompo General Insurance

Zuno General Insurance

Zurich Kotak General Insurance

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Full disclosure

Coverage limits

Exclusions

Claims process

Official wording

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