Specific Transit Insurance

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Specific Transits Insurance Advantage

Single Trip
The specific transit insurance policy provides cover for a single trip. Cover ceases to apply as soon as the cargo arrives at its destination. The policy is ideal for business owners who send out cargo items infrequently.
Customization
It is a freely assignable policy, offering different forms of coverage that may vary from All Risk Cover with ITC-A clauses to more specific Fire Risk Only Cover using ITC-C clauses.
All Contracts
You can take cover for all forms of contracts which are - FOB (Free on Board), C & F (Cost and Freight), CIF (Cost, Insurance and Freight). In case of FOB & C&F the buyer is responsible for the insurance, whereas in case of CIF, the seller is accountable for the insurance.
Internationally Recognized
In case of export or import, specific transit, policy applies to the physical loss and damage of cargo in transit via sea, rail, road & air under internationally recognized Institute Clauses A, B & C.

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 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

Specific transit insurance policy is part of the marine cargo policy that applies to goods or freight for a single trip or transit.
Specific transit insurance policy is specially designed for business owners and sellers who are required to send out goods seldom or rarely.
Factors such as length of the journey, means of transport, nature of the product are considered before determining the premium for the transit insurance policy.
Since, the insurance policy applies to a single trip the premium has to be paid before the transit of the goods commences. If you fail to do so, you will not get the cover against the claim.
Some insurance companies do offer policies that cover livestock goods in transit insurance, however the clauses may vary. It is advised to take some expert advice for this.
Yes, Institute Cargo Clauses A, B & C do cover jettison.

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