Marine insurance —-

Marine cum Erection All Risks (EAR) insurance offers protection to principal and contractors and also to manufacturers and suppliers erecting machinery and plant etc. against financial loss due to any sudden fortuitous and unforeseen causes resulting in loss or damage to the property insured at the project site whilst being stored, erected, tested and commissioned.

Why Should You Buy Marine Insurance?

Marine insurance safeguards your business against financial losses caused by damage, theft, or loss of goods during transit. Whether goods are transported by sea, air, rail, or road, marine insurance ensures your shipments remain protected throughout the journey.

Protection Against Transit Risks

Goods in transit are exposed to risks such as accidents, fire, theft, natural disasters, rough handling, and unforeseen events. Marine insurance provides financial protection against these losses, helping businesses avoid significant financial setbacks.

Financial Security

Unexpected damage or loss of cargo can disrupt business operations and impact profitability. Marine insurance compensates for covered losses, ensuring business continuity without bearing the full financial burden.

Covers Domestic and International Shipments

Whether you transport goods within India or across international borders, marine insurance offers comprehensive protection for imports, exports, and inland transit.

Peace of Mind

With the right marine insurance policy, you can focus on growing your business while your shipments remain protected against unexpected risks throughout transportation.

Easy Claim Settlement

Most insurers provide a simple and hassle-free claim process. In the event of a covered loss or damage, claims are processed after the required documentation and survey, ensuring timely compensation.

Additional Benefits

Marine insurance policies may also cover loading and unloading risks, warehouse-to-warehouse transit, general average contributions, and protection against theft, collision, fire, and natural calamities, depending on the policy terms.

Key Points to Remember When Comparing Marine Insurance

  • Coverage for domestic and international transit

  • Sum insured and insured value of goods

  • Covered risks and policy exclusions

  • Type of cargo and mode of transportation

  • Transit route and destination

  • Claim settlement process and insurer’s reputation

  • Deductibles and policy conditions

  • Additional covers such as warehouse-to-warehouse protection

Marine

Marine Insurance protects your goods, cargo, and vessels against loss or damage during transit.