Logistics terms · Logistics terms
What does Marine and inland transit insurance mean in logistics?
Short answer
Cargo insurance covering goods in transit by sea, air, rail or road, including inland legs. Cover is set by clauses, such as Institute Cargo Clauses A, B or C for international shipments, with A the widest.
Indian insurers sell single-transit policies and open or annual declaration policies for regular shippers, with separate inland transit clauses for road and rail. Match the cover to the Incoterm, since it decides who bears risk on each leg. Ask our desk how this applies to your consignment.
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The numbers behind this answer
- Also called
- marine cargo insurance, transit policy, open cover
- Category
- Contracts & pricing
- Related terms
- Goods-in-transit insurance, CIF (Cost, Insurance and Freight), Freight claim, Declared value
Related questions
- What does CIF (Cost, Insurance and Freight) mean in logistics?
- What does Goods-in-transit insurance mean in logistics?
- What does Declared value mean in logistics?
- What does Freight claim mean in logistics?
- What does IBA approved transporter mean in logistics?
- What does CFR (Cost and Freight) mean in logistics?
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