Inland Transit Insurance

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Inland Transit Insurance Advantage

Open Policy
This inland marine insurance policy also covers inland movement of consignments for specified period of time which is usually one year. This policy is suitable for companies with numerous transactions throughout the year and provides continuous cover.
Losses of all kind
Provides protection against different types of losses:
• Total loss of goods
• Partial loss of goods
• Related expenses while still in transit.
Customization
Insurance can be customized. The different types of policies are:
• All Risk Cover – covers risks and damage to goods against all risks
• Limited Extension cover which provides some extensions like risk against strike, violence & civil commotion
• Basic risk cover- example, fire or lightning risk cover only.
Mark Up Value
An element of profit can also be included in the sum insured which is allowed by the insurers. This is referred to as mark up in Marine Insurance parlance.

Why Claims Get Rejected?

Uncovered Perils

Typical examples include goods damaged during unloading and loading or while in storage; damage due to labour strike; and earthquake related damage. These perils can be covered if the inland transit insurance is placed properly.

Inherent Vice

This refers to damage caused by a product’s instability rather than external factors. For example coal tends to self-combust, some oils solidify, and paper can disintegrate. Inherent Vice is generally excluded but a discussion with experts like us can give a clear sense of how to reduce Inherent Vice risks.

Inadequate Packaging

Claims are often rejected if packaging material was sub-standard or not customary. This can be contentious in claim settlement. A good practice is to declare packaging upfront and agree with the insurer that this is sufficient.

Why SecureNow

Deep
Product Knowledge

We have specialized marine underwriters and tie-ups with international experts.

Cost-effective
Insurance

We work with all insurers to get you the best options- both in terms of price and features.

Quick Turnaround

Cover notes are issued within hours of request. This ensures that your goods don’t sit idle at any stage.

Strong Claim
Support

We manage all aspects of your claim - from survey appointment to documentation to insurer follow-up.

Value Added
Services

We will advice you on risk management best practices.

Policy Administration
System (PAM)

See all your contracts renewal information in one place. Place service requests on PAM.

FAQs

All kinds of goods namely machinery, finished goods and raw materials are covered under inland transit insurance policy.
As the term suggests, specific policy covers a specific, single transit. Whereas, open policy covers for regular transit of goods on the same route for a specific period of time ranging from 3 months to a year.
Besides looking for the cover with minimum exclusions, do consider factors like the length of the journey, route of the journey (conditions of the road), the type of goods etc. Costs, of marine insurance in general, are low.
No, Inland transit insurance is only applicable on goods, machinery and raw materials that are to be transported domestically.
This particular policy covers multiple shipment or transit of the same consignment. For instance- transit of raw material to the factory to the transfer of finished goods to the buyer’s warehouse. In some cases this insurance can also cover goods stored in warehouses.
Most insurers provide cover against total loss, partial loss and related expenses while the good or product is still in inland transit.

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