It offers coverage in the event your cargo suffers damages due to:
- Fire, lightning or explosion
- Derailment or overturning of vehicle
- Volcanic eruption or earthquake
- Collision between vehicles
- Loss / Damage to goods during loading and unloading
- Loss / Damage to goods during handling during transit
- Losses caused by river or lake water entering cargo
- Theft or malicious damage
- Hijack of goods
- Shortage or non-delivery of goods
Along with these risks, a marine cargo insurance plan also offers coverage against risks not specifically excluded in the policy schedule. While the all-risk marine cargo insurance provides coverage against all risks mentioned above. Marine basic insurance excludes risks such as hijacking of goods, theft or malicious damage, and loss of goods during loading and unloading, among others.
Read marine transit insurance's fine print to be aware of the conditions under which you will get coverage.