The policy of marine cargo gives coverage for any kind of damage during transportation of goods by sea, railway or by road. Any vendor dealing in transportation of goods can take this policy of marine cargo.
With this policy the import and export delivery gets insured, goods transported by means of railway, roadway, waterway and air can be insured as well. The policy even extends for the goods transported within countries by inland water ways.
A lot of risk is there when transporting cargo from one place to another. If the goods insured gets damaged due to fire or drowning, or gets smashed in transit then the policy will give total coverage for the insured goods.
'''The four types of cover'''
The contract of Open cover is effective for 12 months and this contract is basically issued for the purpose of import and export.
Open policy is a kind of policy which is valid for a period of one year and it is issued for transportation of goods inside India, the documents of this policy are stamped.
The policy that is legitimate for one transit is known as Specific voyage policy and it gets issued before starting off with the voyage, once the voyage ends the validity of the policy ends immediately.
The Annual policy gives coverage for the goods that are transported by means of railway, roadway or waterway. These goods must belong to the insured.