Also known as ‘Transit insurance’, this is suitable for exporters, importers, traders, manufacturers, contractors of projects, bankers and individuals. The sales terms between the buyer and the seller usually define the insurance requirement. A transit policy covers transit by road, rail, air or water. The classifications of transit policies are
Covering a single transit of goods from one place to another
This policy covers any loss or damage to ships, tankers, bulk carriers, smaller vessels, fishing boats and sailing vessels. Marine hull insurance is done as per international clauses applicable across different countries.