Marine Insurance
Explore the purpose, policy options and common coverage areas within this insurance category.
3 solutions in this categoryStart with the role this cover can play.
Policy names can be technical. The useful question is what risk the cover is intended to address, what information insurers may need and which terms matter for your situation.
What this category is for
This category brings together insurance products designed around a related group of risks and protection needs.
Explore the policy library belowWhat to compare
Scope, exclusions, limits, deductibles, waiting periods, warranties and insurer-specific wording can materially change the protection.
What to prepare
The right information depends on the policy, but accurate exposure details usually help produce a more relevant insurance conversation.
3 options within Marine Insurance.
Use these pages to understand the purpose of each policy and the areas worth discussing with an advisor. Final coverage depends on policy wording, schedule, limits, exclusions, terms and underwriting.
Open Policy
A formal insurance policy that provides ongoing protection for all shipments within a defined limit and period — similar to Open Cover but issued as a policy with set limits and automatic coverage.
Understand this policySales Turnover Policy (STOP)
STOP is a marine-cum-storage insurance product that covers all movement and incidental storage of goods, based on a company's annual sales turnover instead of specific transits.
Understand this policySpecific Transit Policy
Also known as a Single Transit Policy, this covers one-time movement of goods from a specific origin to a specific destination — within India or internationally.
Understand this policyDo not compare price without comparing protection.
The cheapest quotation is not automatically the most appropriate cover. Important differences can sit in wording, sub-limits, deductibles, exclusions, warranties and claim conditions.
Scope
What events, assets, people or liabilities are actually insured?
Limits
Where do sub-limits, deductibles or waiting periods change the usable protection?
Conditions
What warranties, declarations or information requirements affect cover?
Service
How will servicing, endorsements and claims coordination work after purchase?
Need help comparing the options?
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