Marine Insurance – Open Cover

Marine
Call Us On: 
1800 345 0330
Email Us: 
homarinecargo[at]nic[dot]co[dot]in / homarinehull[at]nic[dot]co[dot]in
Policy Details: 

1) The open cover is a contract for 12 (twelve) months which gives the Insured continuous protection to cover large number of shipments / despatches and the premium of which would be adjusted from the respective cash deposit account maintained by the Insured.

2) The open cover is not having any Sum Insured but issued with SCL / PBL along with Terms of Cover etc.

3) An open cover is not a policy and therefore not stamped.

All Risk as per ICC (A) / ITC (A) Basic Cover as per ICC (B) / ITC (B) - damage due to accident of carrying truck/conveyance & Fire during the course of journey. Rate of premium depends on the proposed Terms of Cover viz. Basic Cover would be cheaper than All Risks cover. The following risks are covered on paying additional premium.

1) War & SRCC (Import & Export)

2) SRCC (Inland Transit)

3) Theft, pilferage & Non-delivery (TPND) in case of Basic Cover only

4) Additional storage cover before delivery of cargo at the final destination.

For more details regarding coverage, please refer to the clauses ##@@!!

Applicable to all policies.

1) Wilful misconduct of the assured

2) Ordinary leakage in case of liquid cargo

3) Ordinary loss in weight

4) Ordinary wear & tear

5) Improper packing

6) Inherent vice

7) Insolvency of carrier


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