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Specific Transit Insurance

Specific Transit Insurance- Single/ Specific transit insurance policy provides coverage for the goods for a single voyage/ transit.  The cover ceases as soon as the goods reached to the buyer’s warehouse from the seller’s possession.

1 

Coverage

  • Covers damage due to perils like (fire, lightening, earthquake and explosions

  • Covers risk of damage due to overturning of vessels or derailment of land conveyance

  • Covers goods lost due to sinking of ship

2

Add-on Coverage

  • Add-on Coverage:

  • Debris Removal

  • Custom Duty Cover

  • Damage or loss of cargo due to war, strike, riot, civil commotion and terrorism

3

Exclusions

  • Willful misconduct of the insured

  • Insufficiency or unsuitability of packing or preparation of the cargo insured

  • Ordinary leakage, ordinary loss in weight or volume, ordinary wear and tear, and inherent flaws in the cargo insured

  • Insolvency and financial distress of the carriers

  • ​Un-seaworthiness of the vessel​​

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