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Moving cargo from one place to another whole over the world by air, sea or inland transit is very risky that’s why you need Marine Cargo Insurance

Type of Covers: Marine Cargo Clauses

1.Clause A (All Risks)

Covers everything except listed exclusions

2.Clause B or C

Covers only those incidents specifically listed

 

Risks

Clause B

Clause C

Fire or explosion

Yes

Yes

Vessel or craft being stranded, grounded, sunk or capsized

Yes

Yes

Overturning or derailment of land conveyance

Yes

Yes

Collision or contact with any external object other than water

Yes

Yes

Discharge of cargo at port of distress

Yes

Yes

Earthquake, volcanic eruption or lightning

Yes

No

General average sacrifice

Yes

Yes

Jettison

Yes

Yes

Washing overboard

Yes

No

Entry of sea, lake, or river water

Yes

No

Total loss of any package lost overboard or dropped whilst loading or unloading from vessel

Yes

No

Yes: Covered — No: Not Covered

 

Typical Policy Inclusions

Marine Cargo Clause A provides coverage for:

1.Coverage for the transit of goods from warehouse to warehouse

2.Coverage for loading and unloading risks

3.Coverage for General Average losses and General Average Contributions

4.Coverage for the risk of war, strikes, riots and civil commotions

5.Coverage for risks of theft, pilferage and non delivery

 

Principal Exclusions

Marine Cargo Insurance does not cover:

·   Ordinary leakage, loss of weight / volume, wear and tear or inherent vice

·   Delay, loss of market or consequential loss

·   Insufficiency or unsuitability of packing or preparation

·   Mechanical, electrical or electronic breakdown or malfunction where no external evidence exists of damage from an insured event

·   Rusting, Oxidation, Discoloration, Contamination where no external evidence exists of damage from an insured event

Warehouse to Warehouse

Duration of the Marine Insurance Policy covers transit of goods from warehouse to warehouse as outlined below:

 

 

 

 

 

 

 

Insured Value

Under Marine Cargo Policy, you may insure CIF+10%

•Cost   

•Insurance

•Freight            

•10% anticipated profit

Rating Factors

Rate for Marine Cargo Insurance is ranging from 0.1% to 0.2% It however considerable under following factors:

  •  Kind of Goods / Cargo: general cargo, machinery, etc
  • Method of Packing: FCL or LCL
  • Type of Vessel: Steel Vessel, TB/BG etc
  • Voyage: domestic or overseas
  • Terms & Conditions: Clause A, B or C

How to Insure?

It provides Single Voyage or Monthly Declaration

It simply to provide info or documents i.e. copy of Bill of Lading, Invoice and Packing List

For inquiry or to obtain a Quote

Please call me at +628128079130

Or email: imusjab@qbe.co.id

 

by IMAM MUSJAB at http://ahliasuransi.wordpress.com/