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Posted by Admin on August, 08, 2026
Open Marine Insurance Agents India
CargoCover Advisory is an authorized ICICI Lombard agent structuring Open Marine Insurance (Open Cover) policies for exporters and importers who ship regularly out of India — plus every other marine and air cargo policy type you might need alongside it.
MUNDRAJNPTCHENNAIDESTINATION
The Basics
What Is an Open Marine Insurance Policy?
An Open Marine Insurance Policy (Open Cover) is the standard structure for any exporter or importer who ships more than occasionally. Instead of arranging a certificate before every sailing or flight, you agree the terms once — rate, value basis, clauses, extensions — and every shipment that moves during the policy year is automatically covered from the moment it leaves your warehouse. You declare each shipment afterward, usually monthly, against the running policy.
Agree once, ship freely
Rate, sum insured basis, and clauses fixed upfront for the policy year — no separate approval needed before each shipment moves.
Declare as you go
Each shipment is simply declared against the Open Cover with its invoice value — cover is already active from the moment it moved.
Regular shippers
Exporters, importers, and trading houses moving more than a handful of consignments a year get the most value from an Open Cover.
Open Cover vs. Specific (Voyage) Policy
| Open Cover (Open Marine Policy) | Specific / Voyage Policy |
|---|---|
| Standing annual policy, all shipments covered automatically | Covers one shipment, one voyage or flight only |
| Declare shipments after they move — no per-shipment approval | Arranged and paid for before each individual shipment |
| Best for regular exporters/importers | Best for a one-off order or occasional shipper |
| Usually more cost-efficient over a full year of shipping | Can work out costlier if used repeatedly instead of an Open Cover |
Policy Types
Every Marine Insurance Policy Type We Structure
Open Cover is the right fit for most regular shippers, but CargoCover Advisory structures the full range of marine policy types depending on your shipping pattern.
Open Cover (Annual Open Policy)
A standing policy for exporters and importers who ship regularly. Every consignment is automatically covered the moment it moves, then declared against the policy afterward — no waiting on a certificate before each sailing or flight.
Specific / Voyage Policy
Covers a single shipment, one voyage or one flight, port-to-port or door-to-door. The right fit for a one-off export order or an occasional shipper without a running Open Cover.
Floating Policy
Written for a fixed aggregate sum insured that reduces as shipments are declared against it, until the sum is exhausted or renewed. Useful for traders and consolidators declaring multiple part-shipments over a season.
Time Policy
Covers a fixed period — commonly 12 months — irrespective of the number of voyages. More typical for hull/vessel cover, occasionally used alongside cargo policies for continuous inland or warehouse risk.
Levels of Cover: Institute Cargo Clauses A, B and C in Plain English
Every Open Cover or Specific policy is written against one of three standard clause sets, which decide what perils are actually covered — this is separate from the policy type above.
ICC A — All Risks
Covers loss or damage from any external cause, unless specifically excluded. CargoCover's default base of cover on every Open Cover we structure.
ICC B — Named Perils, Broader
Covers a defined list of perils including fire, sinking, and washing overboard, but not general mishandling or theft.
ICC C — Named Perils, Minimum
The narrowest standard cover, often the CIF-contract minimum — excludes theft, pilferage, and water damage, among others.
Add-Ons & Extensions
Add-On Covers We Build Into Your Open Cover Policy
Two of these — War and SRCC — are standard on every CargoCover Open Cover at no extra step. The rest are added based on your commodity, route, and Incoterm.
War Clause (Cargo)
Covers loss from war, hostilities, and related perils during transit — standard on every CargoCover Open Cover.
SRCC — Strikes, Riots & Civil Commotion
Covers loss from strikes, riots, and civil unrest en route — standard on every CargoCover Open Cover.
Warehouse-to-Warehouse Extension
Extends cover from the seller's warehouse through inland transit, port/ICD/airport handling, and ocean or air transit to the buyer's warehouse.
General Average & Salvage Charges
Covers your contribution if a General Average is declared, or salvage charges incurred to save the voyage.
Institute Replacement Clause
For machinery — covers the cost of replacing only the damaged part, not the entire unit.
Duty & Increased Value Cover
Protects the customs duty already paid or payable on cargo that arrives damaged or short-landed.
Theft, Pilferage & Non-Delivery (TPND)
Covers loss from theft, pilferage, or a package that simply never arrives at destination.
Refrigeration Breakdown Cover
For reefer cargo — covers spoilage caused by a mechanical breakdown of the refrigeration unit in transit.
Container / Package Loss Overboard
Covers cargo lost when a container or package is washed or lost overboard during the voyage.
Debris Removal
Covers the cost of removing wreck or debris of damaged cargo when required by port or customs authorities.
Institute Cargo Clauses (Air) — All Risks
The air-cargo equivalent of ICC A, covering loss or damage from any external cause during air transit — can be added to an Open Cover for mixed sea and air shippers.
Strike Clauses (Air Cargo)
The air-cargo equivalent of SRCC, covering strike- and riot-related loss for cargo moving by air.
Coverage Footprint
Products, Ports, ICDs, Airports, Cities & States We Cover
CargoCover Advisory structures Open Cover and other marine policies for the full range of commodities India ships, moving through every major gateway in the country.
Commonly Insured Export & Import Commodities
Major Seaports
Major Air Cargo Gateways
Inland Container Depots (ICDs)
Manufacturing & Export Hubs (Cities)
States We Serve
Why CargoCover
Why Exporters Choose CargoCover Advisory for Their Open Cover
Authorized ICICI Lombard agent — not a broker reselling someone else's paperwork.
110% CIF & ICC A as standard — the strongest common base of cover, not an upsell.
War & SRCC built in — included from day one, never sold as an after-the-fact add-on.
Shipment-wise declarations — fast, simple, and fits your existing shipping schedule.
FAQs
Frequently Asked Questions
What is an Open Marine Insurance Policy?An Open Marine Insurance Policy (also called an Open Cover) is a standing annual policy that automatically covers every shipment you send during the policy period, up to the values and terms agreed upfront — you simply declare each shipment as it moves, instead of buying a fresh policy for every consignment.
How is an Open Cover different from a Specific or Voyage Policy?A Specific (Voyage) Policy covers one shipment, one time. An Open Cover is a standing 12-month policy that covers every shipment automatically as soon as it moves, with each one simply declared against the policy afterward — built for exporters and importers who ship regularly rather than occasionally.
Who needs an Open Marine Insurance Policy in India?Exporters, importers, trading houses, and manufacturers who ship more than a handful of consignments a year benefit most from an Open Cover, since it removes the need to arrange a fresh certificate before every sailing or flight and usually works out more cost-efficient than repeated Specific Policies.
Is there a minimum shipment volume required for an Open Cover?There's no fixed legal minimum, but Open Cover policies are generally structured around an estimated annual turnover or shipment value declared upfront. CargoCover Advisory can structure an Open Cover for both established exporters and growing businesses just moving beyond occasional shipments.
Can an Open Marine Policy be customized by commodity or route?Yes. An Open Cover is written around your specific trade — commodity mix, typical routes, Incoterms used, and the ports, ICDs, or airports you ship through — so the clause set and extensions match what you actually move, not a generic template.
Does CargoCover Advisory work directly with ICICI Lombard?Yes. CargoCover Advisory is an authorized ICICI Lombard marine insurance agent, structuring and servicing Open Cover and other cargo policies for Indian exporters, importers, CHAs, freight forwarders, and logistics companies across the country.
Shipping regularly and still buying a policy per shipment? Let's fix that.
Get a Free Open Cover Quote — cargocover.inCargoCover Advisory
Authorized ICICI Lombard agents for Open Marine Insurance and other cargo cover for Indian exporters, importers, CHAs, freight forwarders, NVOCCs, shipping lines and logistics companies.
Contact
Website: cargocover.in
Email: cargocoverindia@gmail.com
© CargoCover Advisory. Marine cargo insurance policies are underwritten by ICICI Lombard General Insurance; CargoCover Advisory acts as an authorized agent.
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