Marine Insurance
Smooth Sailing, Safe Shipping Always
Multi-Mode Cargo Protection
Import & Export Coverage
Transit Risk Safeguard
Theft & Damage Shield
Quick Claims Assistance
Global Standards Compliance
Smooth Sailing, Safe Shipping Always
Multi-Mode Cargo Protection
Import & Export Coverage
Transit Risk Safeguard
Theft & Damage Shield
Quick Claims Assistance
Global Standards Compliance
Marine Insurance protects ships, cargo, and goods against loss or damage while they are being transported whether by sea, air, road, or rail.
It offers financial security against unexpected events like fire, theft, collision, storms, or accidents that may occur during transit. The insurance also covers losses caused by natural disasters or human errors, helping businesses reduce financial risk during shipment.
Marine Insurance plays a key role in protecting goods and businesses involved in shipping and transport. It ensures your cargo stays financially protected against unexpected events during transit.
It safeguards your goods from financial loss caused by accidents, theft, fire, or natural disasters while in transit.
If an unfortunate event occurs, insurance coverage helps your business recover quickly and maintain financial stability.
Many regions require marine insurance for vessels and cargo owners to meet legal and safety standards.
Shipping and logistics come with many risks. Marine insurance helps you manage those risks effectively and operate with confidence.
Marine Insurance works by protecting your goods while they are being transported whether it's by sea, air, road, or rail. Here's how it generally works:
You select a marine insurance plan that matches your shipment type and route. The policy clearly lists what's covered and what's not.
The premium depends on factors like the cargo's value, travel route, and type of goods being shipped.
The policy can cover a single trip or multiple trips within a specific time frame, depending on your business needs.
If any damage happens during transit, you inform the insurer, fill out a claim form, and share supporting documents.
The insurer reviews the claim, verifies details, and may send a surveyor for inspection. Once approved, compensation is provided based on the policy terms.
Marine Insurance comes with flexible and useful features that help protect goods during transit whether within the country or overseas.
Marine insurance covers goods transported by sea, air, road, or rail, ensuring complete protection no matter how your cargo travels.
You can choose from single-trip, annual, import, or export policies — each designed to suit different business needs and shipment types.
Marine insurance policies are based on international guidelines (INCO terms), making them suitable for both domestic and global trade.
Marine Insurance offers different types of coverage to suit various business needs. Here are the main types explained simply:
Covers multiple shipments over a year under one policy, saving you from buying insurance for every single consignment.
Protects goods for one-time shipments from the starting point to the final destination. It covers risks like fire, theft, accidents, or weather damage.
Covers goods transported within India by road, rail, or inland waterways. It protects against losses caused by accidents, theft, or natural disasters.
Covers international shipments both goods imported to India and exports sent abroad ensuring protection from the moment the cargo leaves until it reaches its destination.
Marine Insurance offers protection against a wide range of risks that can occur while goods are being transported by sea, air, road, or rail.
Fire, explosion, or lightning
Collision between vehicles or external object other than water
Damages suffered during loading and unloading
Hijack of cargo
Discharge of cargo at port of distress
Jettison
Entry of sea or lake / River water
Total loss of any package lost over board, while loading/unloading
Earthquake or volcanic eruptions
Overturning of land conveyance or derailment of vehicle
Theft or malicious damage
Vessel stranded, Grounded, Sunk
General average
Washing overboard
Any other risk specifically not excluded
Common Questions About Marine Insurance
BuyVima answers the most common queries to help you understand Marine Insurance before choosing.