Who this cover is for
Importers, exporters, manufacturing logistics teams, traders, and logistics contractors.
Coverage scope
Policy scope is governed by insurer terms, endorsements, and policy schedules. Common provisions include:
Inland Road & Rail Transit (ITC-A / B)
All-risks transit coverage across Indian highways and rail networks for overturning, collision, and fire.
Ocean & Air Freight (ICC-A / B / C)
International marine cargo protection complying with international Incoterms (CIF, CIP, FOB) and Institute Cargo Clauses.
Annual Open Policy / Open Cover
Blanket continuous coverage for regular dispatches throughout the year with monthly or quarterly turnover declarations.
Loading & Unloading Hazards
Protection against accidental handling impact during crane loading, forklift movement, and warehouse staging.
Key limitations and exclusions
Every insurance contract outlines specific conditions, waiting periods, and deductibles to review before policy inception:
Defective Packing Exclusions
Damage caused by insufficient or improper packaging for the nature of transit is standardly excluded.
Inherent Vice & Delay
Losses caused by natural perishable decay, temperature change, or market delay without physical impact are not covered.
Unsuitable Vehicle Selection
Transit using uncertified, overloaded, or open tarp vehicles where closed containers are required may void claims.
How Sanghvi Consultancy assists you
With 45+ years of insurance experience in Navrangpura, Ahmedabad, Sanghvi Consultancy provides personal policy guidance:
- Tailoring transit policies to exact commercial Incoterms (CIF, FOB, EXW).
- Structuring single voyage vs annual turnover open policies for cost efficiency.
- Coordinating independent surveyor inspections at arrival ports and destinations.
Frequently asked questions
What is an Open Marine Policy vs a Single Transit Policy?
A Single Transit policy covers one specific consignment. An Open Policy covers all consignments dispatched or received by your company over a full policy year up to an agreed turnover.
What should be done immediately if goods arrive in damaged condition?
Issue a monetary notice of claim to the carrier within the statutory limit, endorse the delivery receipt as damaged/shortage, and notify your insurer/Sanghvi desk immediately before unpacking.
Discuss your policy with an advisor.
Get clear answers on policy terms, insurer waiting periods, and claim support without aggressive sales calls.