DgNote

Frequently Asked Questions

We are here to solve.

You can learn more from our asked questions

Marine Insurance as the name suggests is always jumbled with its meaning. Marine transport is operated via International boundaries which makes it essential for the ship owners to include it in their transit as the rules and regulations of each country may vary accordingly. To avoid such hurdles or losses while in transit, Marine Insurance helps them claim all their specific needs.


Marine insurance refers to insurance that covers the loss of cargo or damage caused to ships, vessels, terminals, and any transport in which goods are transferred or acquired between different points of origin and their final destination. This policy provides promissory for shipping companies and couriers because it protects them from expensive potential losses while transporting goods by water.

Open and specific marine insurance policies enable our customers to cover risks as per their requirements for both domestic and international cargo movements.  

  • Domestic marine insurance covers inland transit via land conveyances or air shipments. 
  • International marine insurance provides coverage for global ocean or air shipments on a warehouse-to-warehouse basis. It also includes land connecting conveyance.

First, people who use the sea for their occupation, such as shipping companies, fishing fleets, and oil rigs, may be required to have this type of insurance. Second, people who frequently travel by boat for leisure or business purposes may want to consider this type of coverage.  And finally, people who live on their boat full-time may want to have this type of insurance to protect their investment.

Marine insurance is not required by law, but it is highly recommended for anyone who uses the sea for business

Standard terms and conditions are published by the International Chamber of Commerce (ICC) for various types of contracts, including marine insurance policies. The ICC clauses provide a framework for determining the rights and obligations of the parties involved in the contract, and they are intended to ensure fairness and consistency in the interpretation and enforcement of the contract. The specific ICC clauses that apply to a marine insurance policy will depend on the type of policy and the nature of the risks being insured.


  1. You can buy/claim your insurance 24*7
  2. Affordable premiums.
  3. Transit policy.
  4. Open policy.
  5. Insurance discounts are available for logistics providers.
  6. Multiple payment options with banking options are available.
  7. Get your policy printed in the comforts of your office.
  8. Store and retrieve invoices, payment receipts, and insurance policies in one place.


To conclude this article, many ships owner nowadays tend to look for the right company to get their marine properties insured. So what are you waiting for? Click here (Get a Quote) to get your property insured.

Basic Risk or ICC B marine insurance policy covers only specific named perils, while an All Risk or ICC A risk policy covers all perils except for those specifically excluded in the policy.

•Floating Policy
•Voyage Policy
•Time Policy
•Mixed Policy
•Named Policy
•Port Risk Policy
•Fleet Policy
•Single Vessel Policy
•Blanket Policy

 

Floating policy 

Floating in Marine Insurance policy, large exporters may opt for an open policy, also known as a blanket policy, instead of taking insurance separately for each shipment. An open policy is a one-time insurance that provides insurance coverage against all shipments made during the agreed period, often a year. The exporter may need to declare periodically (say, once a month) the detail of all shipments made during the period, type of goods, modes of transport, destinations, etc.

Voyage policy

A specific policy can be taken for a single lot or consignment only. The exporter needs to purchase insurance coverage every time a shipment is sent overseas. The drawback is that extra effort and time are involved each time an exporter sends a consignment. With open policies, on the other hand, shipments are insured automatically.

Time policy

Time policy in marine insurance is generally issued for a year period. One can issue for more than a year or they may extend to complete a specific voyage. But it is normally for a fixed period. Also under marine insurance in India, a time policy can be issued only once a year.

Mixed policy

A mixed policy is a mixture of two policies i.e Voyage policy and the Time policy.

Named policy

Named policy is one of the most popular policies in marine insurance policy. The name of the ship is mentioned in the insurance document, stating the policy issued is in the name of the ship.

Port Risk policy

It is a policy taken to ensure the safety of the ship when it is stationed in a port.

Fleet policy

Several ships belonging to the company/owner are covered under one policy. Where it has the advantage of covering even old ships. Also, the policy is a time-based policy.

Single Vessel policy

In a single-vessel policy, only one vessel is covered under the marine insurance policy.

Blanket policy

In this policy, the owner has to pay the maximum protection amount at the time of buying the policy.

Yes, high-risk cargo or routes can be covered under marine insurance with All Risk (ICC A) or Basic Risk (ICC B), subject to standard exclusions based on commodity types.  However certain types of cargoes such as Over Dimensional Cargo (ODC), refrigerated cargo, fragile, household goods, may be subject to marine underwriting approval.  


Open Policy: To ensure individual transactions would be administratively burdensome for large commercial firms and establishments having a huge volume of trade. Open policies provide automatic and continuous protection to all consignments of such insured. Open policies are normally issued for a year. If they are fully declared before that time, a fresh policy may be issued, or an endorsement placed on the original policy for the additional amount. On the other hand, if the policy has run its normal period and is canceled, a proportionate premium on the unutilized balance is refunded to the insured if the full premium had been earlier collected. The Open policy will cease to operate upon the expiry of the policy period or on exhaustion of the sum insured whichever is earlier. Hence, the insured should make sure that the sum insured is enhanced by an additional premium in case of the possibility of it being exhausted before the expiry of the policy.

Sales Turnover policy:
STOP Is A Designer Product For The Discerning Customer, An Open Policy In The Real Sense Of The Term. The Premium For The Policy Is Charged Only On Your Sales Turnover.

STOP Provides You Transit Insurance Coverage On:

Imports + Customs Duty (Actual Or Deemed / Contingent) +

Domestic Purchase Of Raw Materials, Consumables & Stores +

Any Number Of Inter- Factory / Inter-Depot / To & From Job Worker Movements +

Exports (FOB/CIF) +

Domestic Sales Of Finished Goods

Temporary Storage Cover At Intermediate Locations Like Job Workers / C & F Premises Etc

Specific Policy:
This policy is valid for a single transit only. The policy is usually issued before the voyage begins. The coverage will be as soon as the voyage ends. The specific voyage policy must show complete details of the risks covered. It should contain particulars of conveyance/Vessel name/ Bill of Lading/ Air Way Bill / Consignment Note and date, sum insured terms and conditions of cover, voyage, cargo description, etc.

Backdated marine insurance policy in India can be issued with underwriting approval.  Backdated policy requests can be submitted on our application online for marine underwriting approval with specific disclosures, and on approval, the policy can be purchased online.  

Now if you are ready for your next transit of goods from one country to another. But haven't purchased any marine policy yet then it's high time to think about it again. The following will cover all the reasons why you need to buy Marine Insurance:

There are many reasons to buy marine insurance.

•The most important reason is to protect your investment. If something happens to your ship, you want to be sure that you have the coverage you need to repair or replace it. Marine insurance can also protect you from liability if someone is injured while on your ship. •It's seen that there is a sudden rise in the no. of containers lost at the time of transit in the sea. Looking at the average number of containers lost at sea it becomes necessary to get protected marine Insurance and start your next voyage. • Faulty Cargo Damages - After stocking out your ship with all the safety pieces of equipment cargo damages can happen due to various reasons. It may be due to overloading situations, poor ventilation, etc. Though there are many various other reasons which could damage your container, if you don't have a cargo insurance policy, then it may be the reason for your financial loss. You should take marine insurance (get a quote) if you're concerned about your ship and its cargo. If you are interested in purchasing marine insurance for your boat, you may be wondering what value it holds. While you may realize the importance of having a policy for your boat, it may not be entirely clear why you should purchase it. While it will be up to you to decide whether or not having marine insurance is a good idea, we want to give you some reasons why you should consider it.

Indeed, marine insurance policies for sanctioned countries can be issued subject to underwriting approval.  Our application automates the entire approval process for request submission, underwriting approval and policy purchase. 

Marine insurance can be broken down into three main categories: hull, cargo, and liability. Each has its own benefits and drawbacks, so it's important to choose the right type for your needs. To find the best marine insurance company around you, it's important to do your research. Look at the company's history, track its financial stability, and compare its rates to those of other providers.

There are a number of different types of marine insurance. The three main types of marine insurance are hull insurance, protection and indemnity (P&I) insurance, and cargo insurance.  An open policy is a policy that can be used by anyone during a certain period of time. Marine Insurance is vast, but there are three main categories of coverage that most marine policies fall into.

The first thing you need to do is determine your needs. Next, you need to identify the best marine insurance company around you. The best marine insurance company will have a wide range of policies and coverages to meet your needs. You should also consider the company's history and customer service.

To find the best marine insurance company, you'll need to do your research. There are a number of factors to consider when choosing the right company, including location, experience, and price. Check with a few reputable sources to get a good idea of the best marine insurance companies in your area. You can find contact information for marine insurance companies on websites or in print publications.

DgNote is one of the best marine insurance online platforms. Our platform is user-friendly, where one can get information about their policies.  The user gets a consolidated view of all their digital policies and invoices.  The user can also modify a few fields and add information in the policy application form to be printed on the policy.

Claims in marine insurance can be very complex. If you're involved in a claim, it's important to understand the process and how to settle it. This guide will outline the steps you need to take to settle a claim in marine insurance.                   

The steps involved in settling a claim can vary depending on the type of insurance you have, but the process is generally the same. To begin, contact the insurance company. Explain the situation and ask for a meeting to discuss the claim.

Claims processing in marine insurance is a critical part of the overall claims process. The sooner you can begin the claims process, the better. There are a number of steps you'll need to take, and each step has its own specific timeframe. The first step is to contact your marine insurance company.

Settlement of claims in marine insurance is an important process that should be followed carefully to avoid any potential disputes or lawsuits. A claims settlement should be done as quickly and efficiently as possible to minimize the chances of any negative consequences. The following are some tips for settling claims in marine insurance:

Keep all documentation pertaining to the claim, including copies of all agreements, correspondence, and invoices. Make sure all parties are aware of the date and time of the meeting where the claim will be settled.

Marine insurance can be broken down into three main categories: hull, cargo, and liability. Each has its own benefits and drawbacks, so it's important to choose the right type for your needs.

For swift and easy payment process, we accept payments online through internet banking, NEFT / RTGS, UPI.

We provide hassle-free marine insurance through an innovative platform. Registration on our insurance site is free and without any additional fees or charges. We also do not charge any subscription fee.

Following are some exclusions or limitations to the marine insurance coverage:

  1. Loss or damage due to inherent vice or wilful misconduct
  2. Loss or damage caused by delay, including consequential loss or damage
  3. Loss or damage caused by illegal or criminal acts committed by the insured
  4. Loss or damage due to wear and tear, corrosion, rust, or gradual deterioration
  5. Loss or damage due to improper packing, insufficient stowage, or poor handling of goods