Marine Cargo Insurance

In case of losses,it is to restore as per primary existence of the economic conditions, providing financially.

Description of Insurance

• Inland Transit Cargo Insurance
• Marine Cargo Insurance

Insurance Cover

• Total loss only

Term of Insurance

Insurance may be covered for one trip of the domestic cargo transportation from one place to another.

Sum Insured

May be exceeded the insurance value by 10%.

 

Marine Cargo Insurance

Transit by vessel

(1) The vessel shall have license inclusive of the term.
(2) Losses resulting from overloaded then stipulated weight in the vessel are not undertaken.
(3) For misrepresentation in the proposal, losses are not undertaken.
(4) For amendment, shall be informed prior to the duration.
(5) In the event of experiencing losses of the insurer, to promptly retrieve.
(6) 20% of the insurance value will be deducted on compensation, without submitting the commercial license.
(7) Immediately informed the company as soon as possible, how the loss or damage occurred.

 

Benefits

• The subject matter hauled by motor vehicle that is lost or damaged due to natural disaster, accidental impact and fire. (No compensation for partial losses).
• Absolutely sunk of the ship or absolutely damaged of the ship leading to absolute losses of cargo, if any, compensation will be paid.
• For losses, in the event of performance of the minimization of losses, expenditure can be claimed.

Exclusion

• Losses and damages inconsistent with terms and conditions;
• Damages and losses resulting subsequent to the arrival of the end of the transportation and prior to the commencement of the departure of it;
• Spoilage or other damage due to the product’s nature resulting for delays.
• Losses for additional cover without paying additional premium.

Premium for marine cargo

Sr.	Marine cargo	Premium Rate (%)
		T.L.O
1.	General Cargo
	In the river	0.14%
	Coastal Line (Summer)	0.28%
	Coastal Line (Rainy Season)	0.56%
	In the stream	0.084%
2.	Gunny Sack	0.112%
3.	Additional Covers
	War risk	0.10%
	strike, riot and civil commotion	0.06%
	Port belated fine	10% of elementary premium
4.	Kerosene, Patrol, Diesel and Gas
	In the river	0.28%
	Coastal Line (Summer)	0.42%
	Coastal Line (Rainy Season)	0.84%

 

Inland Transit Cargo Insurance

Transported by Inland Vehicle

(1) The driver is properly license.
(2) The license of vehicle must be valid.
(3) For misrepresentation in the proposal, losses are not undertaken. For amendment, shall be informed prior to the duration.
(4) Compensation is inclusive only for the losses arising from the point of origin to final destination.
(5) Prompt notice shall be given on the arising of losses.
(6) For losses, in the event of performance of the minimization of losses, expenditure can be claimed.
(7) Must inform the company changing of vehicle while in transit.

 

Benefits

The subject matter hauled by motor vehicle that is lost or damaged due to natural disaster, accidental impact and fire. (for partial losses) Protect your assets-insure

Exclusion

• Losses and damages inconsistent with terms and conditions;
• Damages and losses resulting subsequent to the arrival of the end of the transportation and prior to the commencement of the departure of it;
• Spoilage or other damage due to the product’s nature resulting for delays.
• Losses for additional cover without paying additional premium.

 

Premium for Inland Cargo 

Sr.	Inland Cargo	Rate of Premium (%)
		T.L.O
1.	General Cargo (From the point of origin to final destination)	0.14%
	From border to border	0.14%
2.	Kerosene, Patrol, Diesel, Gas (From the point of origin to final destination)	0.28%
3.	Fragile cargo	0.80%
4.	Additional Covers
	War risk	0.10%
	strike, riot and civil commotion	0.06%