Marine Insurance: Duty Insurance Policy

The policy is designed to help importers who are bringing in cargo where the landed cost would be more than the CIF value by imposing a custom duty. The policy is not an agreed value basis, and claims under this section are payable on actual basis.

₹10 Lakh cover at only ₹591/transit⁺

Protect your goods with

single transit cover

We don't spam

Check premium now

By clicking on "Check premium now" you agree to our Privacy Policy and Terms Of Use

Get Updates on WhatsApp

Wallet-friendly plans
24/7 claim support
IRDAI-certified advisors

Highlights of Duty Insurance Policy

Here are some of the highlights of Duty Insurance policy:

The policy indemnifies the importer for the increased value of the cargo due to payment of Duty.
The premium under the Duty Insurance Policy would normally be cheaper than the Cargo Insurance Policy by at least 25%.
This policy’s sum insured is determined based upon the actual duty that is to be paid.
The policy may also be issued on a provisional sum insured basis, since the amount of duty could not be known to the importer before landing the cargo at the destination port.
The Duty Policy is to be issued to the holder or assignee of the Import License.
The sum insured for custom duty is modified based on the actual evaluated custom duty at the expiration of open policy that was issued to cover custom duty.

Duty Insurance Policy Coverage

This policy provides coverage for the following:

A duty insurance policy is usually issued in conjunction with a cargo policy.
No claim under the duty policy can be made unless the liability is covered by the cargo policy.
The terms of cover and exclusions are also applicable in tandem with the cargo policy.

Marine Insurance Premium Calculator

Type of Cover

Single Transit

Annual Open

Where will your products be shipped to?

Inland

Import

Export

Duty Insurance Policy Does Not Cover

This insurance policy does not provide cover for the following:

In case of total or partial loss of cargo prior to Duty becoming payable.
Salvage and/or Salvage Charges / General Average arising from any loss before the Duty becomes payable.

Learn more about Marine Insurance

Annual open Policy

Read More

Single Transit Policy

Read More

Sales turn over Policy

Read More

Transit Insurance

Read More

Marine Insurance

Read More

Cargo Insurance

Read More

Read More

View More

Marine Insurance Companies

IndusInd (Formerly Reliance)

View more insurers

Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Commercial Insurance Products

Group Health Insurance

Marine Insurance

Cargo Insurance

Workmen Compensation Insurance

Professional Indemnity

Fire Insurance

Shop Insurance

Comprehensive Liability Insurance

Construction All Risk

Erection All Risk

Cyber Insurance

Directors & Officers Insurance

Contractor's Plant & Machinery

Office Package Policy

Group Personal Accident Insurance

Group Life Term Insurance

Drone Insurance

We don't spam

View plans

By clicking on " Check Your Premium Now " you agree to our Privacy Policy and Terms Of Use

Marine Insurance Articles

Popular Articles
Recent Articles

Why Is Insuring Your Household Articles Important During Transit?

Why Is Insuring Your Household Articles Important During Transit?

When moving to a new home, safeguarding your household articles during transit is crucial. Transit insurance...Read more

27 Oct 2020 by Policybazaar 21949 Views

Warranties in Marine Insurance

Warranties in Marine Insurance

Warranties in marine insurance are referred to as assurance of coverage provided by the insurer. It outlines the...Read more

20 Jul 2023 by Policybazaar 11804 Views

What is Carrier Legal Liability Insurance?

What is Carrier Legal Liability Insurance?

Within the transportation industry, where goods traverse vast distances across different modes of transport,...Read more

29 Apr 2024 by Policybazaar 7461 Views

Insurance for Transporting Goods in India

Insurance for Transporting Goods in India

In the intricate web of India's transport industry, the movement of goods plays a vital role in driving the...Read more

03 Nov 2023 by Policybazaar 8642 Views

Types of Marine Losses

Types of Marine Losses

In the shipping business, different types of losses can happen. Marine insurance helps manage these risks by...Read more

23 Nov 2022 by Policybazaar 15864 Views

Difference between Marine Open Cover & Marine Open Policy

Difference between Marine Open Cover & Marine Open Policy

Marine insurance and its advantages cannot be ignored if you are in a shipping business or your business needs...Read more

19 Aug 2022 by Policybazaar 13872 Views

International Cargo Clauses & Inland Transit Clauses in Marine...

International Cargo Clauses & Inland Transit Clauses in Marine...

Marine insurance coverage is divided into two types. One is International Cargo Clause (ICC) and the second is the...Read more

13 Aug 2022 by Policybazaar 16456 Views

What is Freight Insurance?

What is Freight Insurance?

In addition to the basic carrier policy, a Freight insurance policy will provide additional protection for your...Read more

18 Mar 2019 by Policybazaar 29144 Views

Over Dimensional Cargo in Marine Insurance

Over Dimensional Cargo in Marine Insurance

The world of marine transportation caters to a vast array of cargo, but some items present unique challenges. Over...Read more

03 Apr 2024 by Policybazaar 5079 Views

6 Not to Forget Principles of Marine Insurance

6 Not to Forget Principles of Marine Insurance

The principles of marine insurance are essential for maintaining fairness and consistency in the delivery of...Read more

10 Feb 2020 by Policybazaar 19551 Views

Transit Insurance for Delivery Business

Transit Insurance for Delivery Business

Whenever goods and commodities are on the move, they are at risk of damage. A logistics company's reputation can...Read more

28 Feb 2024 by Policybazaar 7018 Views

Documents to Submit Along with Claim Form in Marine Insurance

Documents to Submit Along with Claim Form in Marine Insurance

Marine insurance covers various risks faced by shipowners and cargo owners during transit. Whether it is marine...Read more

25 May 2023 by Policybazaar 9389 Views

Transit Insurance Coverage for Theft

Transit Insurance Coverage for Theft

The transport business involves a lot of extreme opportunities and risks. Risks like cargo theft or theft in...Read more

28 Feb 2024 by Policybazaar 3503 Views

What is Marine Insurance in Export and Import?

What is Marine Insurance in Export and Import?

People have been exchanging goods since prehistoric times, with long-route trades dating back to 2000 BCE. Today...Read more

18 Feb 2022 by Policybazaar 11511 Views

Premium Calculation for Marine Insurance for Cargo

Premium Calculation for Marine Insurance for Cargo

Marine transport is the oldest form of transportation, making marine insurance one of the oldest forms of...Read more

22 Nov 2022 by Policybazaar 10038 Views

What is the Customs Tariff Act 1975?

What is the Customs Tariff Act 1975?

India's international trade relies on rules that define how...Read more

05 Jan 2026 by Policybazaar 2769 Views

What are E-commerce Exports?

What are E-commerce Exports?

E-commerce exports refer to selling and delivering products or...Read more

26 Sep 2025 by Policybazaar 1911 Views

What is Anti-Dumping Duty?

What is Anti-Dumping Duty?

Anti-Dumping Duty (ADD) is a tariff imposed by governments to...Read more

25 Sep 2025 by Policybazaar 2472 Views

What is MEIS?

What is MEIS?

The Merchandise Exports from India Scheme (MEIS) was introduced...Read more

11 Sep 2025 by Policybazaar 2141 Views

Top Import Export Business Ideas for Sellers in India

Top Import Export Business Ideas for Sellers in India

India's import-export sector has experienced rapid growth in...Read more

27 Aug 2025 by Policybazaar 6915 Views

12 Documents Required for Exporting Goods from India

12 Documents Required for Exporting Goods from India

In foreign trade, the significance of proper documentation...Read more

09 Jun 2025 by Policybazaar 4262 Views

What is Export?

What is Export?

Export is the sale of goods and services manufactured in a...Read more

30 Apr 2025 by Policybazaar 4599 Views

Types of Shipping Containers with Size & Dimensions

Types of Shipping Containers with Size & Dimensions

Shipping containers have evolved over the years. Now, businesses...Read more

25 Apr 2025 by Policybazaar 2542 Views

How to Choose the Right Shipping Line in 2025: Top 5 Key Factors

How to Choose the Right Shipping Line in 2025: Top 5 Key Factors

Selecting the right shipping line is crucial for Indian...Read more

07 Apr 2025 by Policybazaar 2894 Views

How to Create a Freight Forwarding RFP for Shipping?

How to Create a Freight Forwarding RFP for Shipping?

RFP, or Request for Proposal in freight forwarding, is a formal...Read more

03 Apr 2025 by Policybazaar 2642 Views

What is Pallet Shipping?

What is Pallet Shipping?

Pallet shipping is a mode of transporting goods using pallets to...Read more

02 Apr 2025 by Policybazaar 2900 Views

What are High Cube Containers in Shipping?

What are High Cube Containers in Shipping?

‘High Cube containers’ is a category of shipping containers...Read more

02 Apr 2025 by Policybazaar 4635 Views

International Shipping - How to Start Shipping Internationally From...

International Shipping - How to Start Shipping Internationally From...

Expanding your business to international markets can be a...Read more

01 Apr 2025 by Policybazaar 2734 Views

Products to Export from India

Products to Export from India

India has largely been an agricultural economy, but has turned...Read more

18 Mar 2025 by Policybazaar 5600 Views

Modes of Transportation Covered Under Marine Insurance

Modes of Transportation Covered Under Marine Insurance

Marine insurance is essential for protecting goods during...Read more

23 Oct 2024 by Policybazaar 4322 Views

Disclaimers⁺
*Savings of 42% are based on the comparison between the highest and lowest premiums for a Rs 50 lakh sum insured under Inland Transit Clause B or Institute Cargo Clause B for single transit cover of auto spare parts with shipment type of Inland(Domestic) and road as mode of transport. Premium varies on the basis of Occupancy, Business Activity & Coverage Type
By clicking on "View Plans" you agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover.
The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.

Claude

Insure your shipment & protect your goods from

overturning