Marine Insurance covers your goods against loss or damage while they are in transit by sea, air, road or rail. Despite the name, it protects all kinds of cargo movements, including inland shipments within India and overseas trade. As an IRDAI-licensed broker, Assurmate compares 15+ insurers to find you the right cover at a fair price, with full claims support.
Marine Insurance, often called marine cargo or transit insurance, protects the goods you ship or receive against physical loss or damage that happens while they are being transported. The cover travels with the cargo from the point of origin to the destination, so your stock, raw materials or finished products are financially protected during the journey.
The name is historical: although it started with sea voyages, modern marine policies cover cargo moving by any mode, sea, air, road or rail, and both within India and across borders. You can insure a single shipment or take an annual open cover that automatically protects all the consignments you send or receive over a year, which is common for businesses with regular dispatches.
Marine Insurance is essential for anyone who buys, sells or moves goods, including manufacturers, traders, importers, exporters, e-commerce sellers, distributors and SMEs that send stock to dealers or customers. If you are a small business shipping products across cities, an exporter dealing in international contracts, or even an individual transporting high-value goods or relocating valuable items, a transit policy protects you from out-of-pocket losses if cargo is damaged, lost or stolen on the way. It is especially important when your sale terms (such as CIF or FOB) make you responsible for the goods during part or all of the journey.
If a shipment is damaged or lost in transit, the policy reimburses the insured value so a single bad consignment does not become a major financial hit.
One policy can protect goods moving by sea, air, road or rail, and both within India and overseas, so you are covered end to end.
Choose single-transit cover for an occasional shipment, or an annual open cover that automatically protects all your dispatches over the year.
Marine cover is often required under international sale terms and by banks for trade finance, helping you close deals and meet contractual obligations.
Assurmate is IRDAI-licensed and does not underwrite policies, so we compare 15+ insurers and recommend what genuinely fits your shipments.
Our team helps you document the loss, file the claim and follow up with the insurer and surveyor so you are not navigating the process alone.
Tell us what you ship, the typical value, modes of transport and routes, and whether you need single-transit or annual open cover.
Assurmate compares offers from 15+ insurers and explains the cover terms, clauses and exclusions in plain language so you can choose confidently.
Complete the documentation and payment, and we issue your policy or open cover, along with the certificates you need for each shipment.
If goods are lost or damaged, we guide you through survey, documentation and filing so your claim is settled as smoothly as possible.
The things people ask us most about this cover.
No. Despite the name, marine cargo policies cover goods moving by sea, air, road or rail, and include both inland (domestic) and overseas shipments. The name is historical, from when most cargo travelled by ship.
Single-transit cover protects one specific shipment from origin to destination. Annual open cover is a yearly policy that automatically covers all the consignments you send or receive during the year, which suits businesses with regular dispatches.
It is usually based on the invoice or commercial value of the goods, and can be extended to include freight, customs duty and a margin for incidental costs. The exact basis varies by insurer and policy wording.
It depends on the sale terms agreed between the parties. Under terms like CIF the seller arranges cover, while under terms like FOB the buyer typically does. We can help you work out who should insure based on your contract.
Typically the policy or certificate, invoice and packing list, transport documents (such as the bill of lading or lorry receipt), a survey or damage report, and proof of the claim lodged with the carrier. Requirements vary by insurer.
Assurmate is an IRDAI-licensed broker that does not underwrite policies, so our advice is conflict-free. We compare 15+ insurers, explain the clauses clearly, and support you fully at claim time, all at no extra cost to you.
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