Marine Cargo Open Cover insurance typically provides coverage for goods transported via various modes of transportation, such as sea, air, or land. It is typically an annual policy that offers protection for goods against risks like damage and loss during transit. The advantage of declaration policy is that it offers automatic and continuous insurance coverage without having to approach insurer for every dispatches.

Coverage:

• Fire and Lightning
• Theft, pilferage and/or non-delivery
• Breakages
• Collision or contract of vessel, craft or conveyance with any external object other than water

Exclusion:

• Willful misconduct of Insured
• Ordinary leakage/ shortage/loss of volume/weight
• Inadequate packing
• Loss by delay
• Inherent vice
• Insolvency/ financial default of carrier/carrier agents
• Loss due to automatic weapon of war
• Without Sea worthiness of the vessel/road worthiness of the vehicles
• Oversize and over loading