We are always available to resolve your queries! You will receive a callback from us.
Marine open insurance protects all your cargo shipments for a full year — no need to buy a new policy for every transit. It saves time by cutting down on repeated paperwork and calculations. Just set it up once, and you’re good to go.
Your goods stay protected against risks like fire, theft, explosion, lightning, and even volcanic eruptions during transit. It’s ideal for businesses, traders, and shipping agents who move goods regularly.
Trivia:
Did you know that Marine Open Insurance offers coverage for goods in transit throughout the year until the sum insured is exhausted or the policy expires? For instance, if your cover runs out early (say your ₹1 crore limit i.e. Sum insured is exhausted in 8 months), you can easily extend it mid-term through your Relationship Manager.
Shields your business from financial losses
Marine export-import insurance (marine open insurance) steps in when disasters like fire, earthquake, explosion, lightning, volcanic eruptions, etc. — so you don’t end up paying from your pocket.
Covers every mode of transit
From accidents and theft to floods and earthquakes — marine open insurance handles the mess. Your cargo is protected across road, rail, air, and sea, no matter what surprises the journey throws at you.
Hassle-free customs & delivery
Having valid marine open insurance documents speeds up customs clearance and prevents disputes with buyers in case goods arrive damaged.
Continuous year-round cover
For businesses that ship frequently, managing multiple policies can be tedious. Marine Open Insurance offers a single, year-round cover for all shipments—saving time, paperwork, and effort.
If you ship or receive goods across borders, you face risks like loss, theft, or damage during international transit. Marine transit insurance safeguards your cargo and ensures smoother trade and payment compliance under LC terms.
If you move raw materials to factories or finished goods to clients within India, marine transit insurance covers your shipments against transit risks, whether by road, rail, air, or coastal shipping.
Entities engaged in third-party or triangular trade, where goods are shipped directly from one country to another (e.g., Country A to Country B) without entering the trader’s country of registration (Country C), should obtain marine insurance to cover transit risks, as they bear the commercial and financial exposure during the movement of goods
If your business is moving or storing goods for others, your reputation and liability rest on safe delivery. Marine transit insurance adds a layer of protection against claims and damages during cargo handling.
You buy marine open insurance before shipping goods and choose a commodity type. Marine open insurance provides cover for a year for a single commodity only.
You pay a premium, which depends on the value of the goods, transit route and risks involved. In Marine open insurance’s case, premiums are usually paid annually
Declaration or certificate generation needs to be done for every shipment in open policy
You face a loss or damage due to, fire, explosion, earthquake, volcanic eruption, jettison etc., and inform your insurer about the same to claim the insurance.
The insurer then appoints a licensed surveyor to inspect the loss and prepare a detailed report based on the policy terms.
Once the report is reviewed and approved, the insurer compensates you for the loss as per the policy coverage.
Inland (Domestic)
Provides coverage for goods within India.
Perfect for manufacturers, traders, and suppliers shipping across cities and states.
Import
Provides coverage for goods transported from a foreign country to India.
Shields your business from losses before goods even reach your warehouse.
Export
Provides coverage for goods transported from India to a foreign country.
Ensures your exports reach global clients safe and damage-free.
Fire or explosion
Overturning or derailment of vehicle
Collision between two vehicles
Missing items in cargo
Theft or malicious damage
Package lost overboard or dropped
River, lake or sea water entering cargo
Lightening, earthquake or volcanic eruption during transit
Damage to goods during loading and unloading
Damage to goods during handling of goods in transit
Shortage or non-delivery of goods
Hijack of goods
Intentional damage by the insured
Poor or inadequate packing
Ordinary leakage or wear and tear
Owner’s insolvency or financial failure
Unsuitable or unsafe transport
Expenses caused by delay
Loss due to strikes, lockouts and labour disturbances
Loss due to terrorism, war peril
Note Please refer policy wording of specific covers for better understanding on the complete list of what’s covered and what’s not covered.
Your claim deserves certainty, not complexity. ICICI Lombard gives you annual coverage, easy claims, and expert support – so your business never slows down.
We have been helping businesses stay safe for years, so we understand the risks you face. We have a team of dedicated Relationship managers (RM) that help you through your journey of buying and raising claims for marine insurance.
We are the market leaders in private sector for marine and other notable insurances, delivering exceptional services to our esteemed customers.
Small businesses only need one document to claim up to ₹5 lakh, and we try to settle it in just 10 days. Our team is always ready to help, whenever you need.
With smart technology, you can get a marine insurance policy almost instantly. No big forms or long waits, just a few clicks and you are covered!
To buy marine export-import (open) insurance online from ICICI Lombard:
Visit our business insurance page and choose ‘marine export- import insurance’ from the dropdown under ‘Marine Insurance’.
Choose the policy type - inland, import, or export.
Provide important details like company name, commodity, sum insured, email and mobile number.
Check the box for terms and conditions and ‘receive updates on WhatsApp’. Then click on ‘Proceed to buy’.
Click on ‘Proceed to buy’ to buy the policy.
Inform us about the claim online via our website or toll-free number (1800 2666) or mail. A surveyor will be appointed within 24 hours.
The surveyor will assess the damage and request the necessary documents.
Submit the required documents using the provided link.
The surveyor will finalise the report. We will verify it and begin processing the claim.
On receiving consent the surveyor will share his report.
Complete your KYC and the payment will be credited to your account.
For claims up to ₹5 lakh, customers can opt for virtual survey for making a claim.
A link for the virtual survey will be sent via SMS or email, upon request.
The surveyor will guide you through the virtual survey to inspect damages.
If required, the surveyor will ask you to submit the necessary documents.
Once the claim is approved, you will receive an offer for settlement via a link.
Provide digital consent and submit KYC details online.
Note:
To ensure smooth claim processing, single transit policyholders must upload the previous month’s shipment details on the portal every month. Import-export policyholders are required to declare each shipment in advance. Failure to comply may impact claim eligibility.
Policyholders need to declare details of their consignment every month.
Here are the steps:
We will send our registration portal link to you
Register yourself by entering your policy number.
Login again and in the dashboard, choose your policy and click Upload Declaration.
Select the month, then download the Excel format, fill in the required details, and save it.
Submit the updated documents based on your transit details.
Single transit policy customers are required to upload their previous month’s shipment details on the portal each month. Import-export policyholders must declare shipments prior to every dispatch. In both cases, a dedicated Relationship Manager (RM) will assist you throughout the process.
ACG Group
ICICI Lombard has been our insurance partner for more than a decade. The company has a diverse portfolio of non-health services, and have successfully helped us sail through the risk hurdles with outstanding solutions in Property and Marine segment.
Enzene Biosciences Limited
ICICI Lombard’s sales and service team is excellent and I am truly impressed. We had an association of more than 5 years and Excellent support in terms of claim settlement be it health or fire.
Mantra Softech (India) Pvt Ltd
We are customer of ICICI Lombard since long time and they are very competitive in market and they are far ahead in digitalization compare to others. We have very good experience with their services.
M/s Amsec Systems
I am writing this to express my immense gratitude and great fullness for your support in getting the insurance claim for my shop!
Larsen & Toubro
Customer friendly insurer. Goes the extra mile to meet deliverables. Happy to work with ICICI Lombard.
Luxmi Tea Company Private Limited
We are associated with ICICI Lombard since 2018. They have been a phenomenal risk solution partner & underwriter providing exceptional service. Thank you for the service, support & co-operation.
A bill of lading (BL or BoL) is a legal document issued by a carrier to a shipper that details the type of shipment, quantity of the shipment and destination of the shipment being carried
Per sending limit is defined as the maximum amount of liability which the insurer would assume in respect of goods belonging to the insured carried on a single transit. The policy may have a single limit per sending across different modes of conveyance or specify different limits for different modes of conveyance.
Single insurance policy which can cover loss or damage of the cargo for their multiple transit.Thus, Marine Open Declaration Policy enables you insure all your goods in transit or shipment during the year in a single policy.
You can get a quote online. Most insurers have this facility whereby you enter the details, including the type of cargo, sum insured needed, etc., and will receive the quote based on your inputs.
They determine the point of change of responsibility between the buyer and seller. Inco terms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer. Some commonly used Inco Terms:
Ex Works (EXW): Seller has to place the goods at the disposal of the buyer. Carriage and Insurance are arranged by buyer
Free On Board (FOB): Seller delivers when the goods pass the ship’s rail at the named port of shipment. This means the buyer has to bear all costs &risks to the goods from that point
Cost, Insurance, Freight (CIF): The seller delivers when the goods pass the ship’s rail in the port of shipment. The seller must pay the cost & freight necessary to bring goods to the named port of destination, but the risk is transferred from seller to buyer
Every entity or individual dealing in shipment of cargo and they are involved in multiple shipments during the year can buy this insurance policy to protect the goods from loss or damage.
All risk cover (ITC A/ICC A)
Basic Cover (ITC B/ICC B)
No Terrorism is not covered in Marine open transit insurance.
Premium is calculated by multiplying the Sum insured with the defined rate of specific cargo. Premium is subject to total value of cargo insured and type of cargo.
Cargo is prone to damage during the loading into the vehicle/ship and unloading of the goods from the vehicle. Such damages can be covered under marine open declaration policy with all risk cover (Cover A).
Wilful Misconduct of the Assured
Ordinary leakage, ordinary loss in weight or volume or ordinary wear and tear of the subject-matter insured
Insufficiency or unsuitability of packing
Inherent vice or nature of the subject-matter insured
Delay
Insolvency or financial default of owner, manager, charters or operators of the vessel
Unfitness/ Unseaworthiness of carrying conveyance
Claim Intimation: Where the consignment is found in damage condition at the time of taking delivery or if consignment carrying vehicle met with an accident, being a rightful claimant, claim to be intimated immediately after delivery or notification of loss through Web Claim portal. Link : https://coclaims.icicilombard.com/claimstracker/CommercialClaims/ccplandingpage.aspx.
List of Requirements: After survey inspection, surveyor will share quantification of loss and list of documents to be submitted (For Claim Above 1 Lakh)
Submission: Insured should arrange all requested details to surveyor / insurance company within time.
Assessment: Surveyor will assess the loss based on documents submitted and share assessment with the insured.
Consent/Discharge voucher: Surveyor will assess the loss based on documents submitted and share assessment with the insured.
Final Survey Report: Surveyor will arrange to prepare and submit their report to insurer upon receipt of all requested details along with consent.
Processing: Upon receipt of final survey report from surveyor, notarized subrogation (claims above 2 lakhs) and duly signed Discharge voucher (claims above 10 lakhs), insurer will arrange to release payment.
Yes, partial loss is covered. It is of two types. One is particular average which means losses shall be covered up to the level of damage on subject matter insured. Other one is general average, which means, in order to avoid any other risk or danger, if the remaining cargo is voluntarily destroyed, the same shall be covered.
Invoice copy
Final Repair Bill
Repair Estimate (If repairable) claim and original AD
FIR copy
Salvage Bill
LR Copy
Photographs (In case of damage claim)
Shortage Certificate (In case of shortage)
Driving License, RC Book of transporters of vehicles
Discharge voucher on mail
Above 1 lakh- surveyor will be deputed
Original invoice
Repair Estimate
Acknowledged copy of letter lodging monetary
FIR in case of accident and theft claims
Original LR
Original Damage certificate issued by transporter
Final claim Bill along with salvage value
Driving License, RC Book of transporters vehicle
Original Letter of subrogation on Rs 200 on stamp paper notary
Original Discharge voucher
A Comprehensive Guide to the Touch Stay Clause in Marine Insurance
5 Reasons Why You Need a Marine Insurance Policy
What are the Types of Marine Insurance Policies
*as on April 2022 to March 2026
#as on FY 2024-25
@This is an add-on. Add-ons are subject to additional payment
~ Premium of ₹499 is based on a sum insured of <₹3,00,000> for commodity type <"All Types of Containers"> for Single Transit cover. Actual premium may vary depending on the sum insured, type of cargo, and applicable terms and conditions. Tax and other statutory charges are additional.
1This must be reported within 7 days
2 Subject to additional premium. This refers to forced entry where goods from the shop are stolen and property is damaged
Properly filled and signed claim form.
List of damaged contents or items.
Newspaper cuttings/Fire Brigade report/Panchnama.
Photographs of the damaged site and/or goods.
An estimation of the insurance claim.
Any other insurance copy of other insurer for the same property
Any other additional or relevant information that the insured may like to submit.
Hi there!
Let us help you explore and buy a new policy.