What is Marine Cargo Insurance?
Marine Cargo Insurance provides coverage against any damage caused to cargo vessels which are in transit by road, rail, inland waterways from one point to another. The policy covers damage incurred to the cargo while it is grounded or in transit due to other factors like weather conditions, strikes, war, collision, sinking, navigation errors etc.
What does Marine Cargo Insurance Cover?
The risks covered by Digit’s Marine Cargo insurance policy are listed below:
What’s not Covered?
Digit’s Marine cargo insurance policy does not cover for the mentioned points:
Features of Digit's Marine Cargo Insurance
All insurance policies come with specific features. Listed below are the ones for the marine cargo insurance policy offered by Digit:
Who needs a Marine Cargo Insurance policy?
A marine cargo insurance policy can be bought by -
How is the premium calculated for Marine Cargo Insurance?
In Marine cargo insurance, the premium is calculated based on the factors mentioned below:
How to choose the right Marine Cargo Insurance policy?
When choosing the right Marine cargo insurance policy, certain factors that need to be considered. They are listed below:
Insurer’s reputation – You need to look into the insurer’s reputation from where you are planning to buy the insurance policy. Doing this, will enable you to make sure that there are no issues during claims.
Robust marine claim department - Another thing to consider is whether the insurer has a healthy maritime claim department. It is essential because you don’t want your claim application stuck at their table.
Affordable premium – The payable premium is another factor that needs your attention. You don’t want to pay a higher premium for your coverage
The coverage you need – When availing yourself of marine cargo insurance, you need to consider the coverage it offers. This will ensure that you get a policy that provides the coverage you want and not one just for the sake of it.
Surveyor & Assessor network - When choosing the right Marine Cargo insurance policy, it is important to look at the surveyors and assessors network of the insurer. This is because if the claim goes beyond a certain defined limit, an assessor visits you to determine the exact damage.