Marine Insurance for Electronics & White Goods

Since the online shopping has become a trend, majority of consumers have started purchasing electronic items and white goods online. When they order any such items, the companies have to transport it from different cities and sometimes from different countries as well. When it comes down to transportation of these goods from one place to another, marine insurance policy steps in as it provides coverage from any unforeseen loss or damage caused during the transportation of those goods.

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Learn more about Marine Insurance

Importance of Marine Insurance for Electronics & White Goods

It is important for the manufacturers of the electronic items and white goods to purchase marine insurance policy. It is because until and unless the item reaches the buyer’s house, any loss or damage caused will have to be borne by the manufacturer. If the goods are covered under the marine insurance policy then any loss or damage caused will be indemnified by the insurer.

Coverage under Marine Insurance Electronics & White Goods

Marine insurance for electronics and white goods provide coverage for the following perils:

  • Any loss or damage caused due to fire
  • Loss or damage caused due to explosion while transportation
  • Loss or damage caused due to derailment of land conveyance, overturning or sinking
  • If the cargo leave a port of distress that causes any kind of damage to the goods
  • Jettison and washing overboard 
  • Total loss of package while loading/unloading of the goods
  • Total loss of package while overboard
  • General average sacrifice salvage charges 

Exclusions under Marine Insurance for Electronics & White Goods

Marine insurance for electronics and white goods does not provide cover for the following perils:

  • Intentional loss or damage 
  • Bad packaging quality leading to damage of the packaged goods
  • Loss of Liquidation, collapse of finances and bankruptcy
  • Loss due to insolvency
  • Regular wear and tear of electronic item and white goods
  • Loss or damage caused to the goods in case of riots, strikes, war, etc.

Claiming Process for Marine Insurance for Electronic & White Goods

Here is the claiming process. Have a look:

  • Inform the insurer about the caused damage. If the insured cannot inform the insurer then anyone can inform the insurer on behalf of insured
  • If any of the electronic or white goods get damaged severely during the delivery then the insured can get a survey done and lodge a monetary claim
  • If any of the electronic item or white goods go missing then the insured can file an FIR as the insurer might ask for it at the time of raising a claim

Marine Insurance for Electronics & White Goods: Documents Required

Following documents are required to submit along with the claim form:

  • Insurance policy copy
  • Survey report
  • Claim bill
  • Bill Lading copy
  • Documents copy that were exchanged with carrier
  • Shipping specification
  • Original Invoice
Written By: PolicyBazaar - Updated: 13 October 2023
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Policybazaar for Business - Marine Insurance - Customer Reviews
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Based on 114 reviews
out of 5
Based on 114 reviews
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3.8 April 20, 2023
Great Experience
I recently purchased Marine insurance from Policybazaar for my shipping business and I must say I am thoroughly impressed with their service and coverage. From start to finish, the experience has been smooth and hassle-free.Thankyou.
4.3 April 03, 2023
Provides Comprehensive Protection
When it comes to coverage, Marine insurance that i bought from PolicyBazaar has exceeded my expectations. It provides comprehensive protection for my cargo and vessels during transit, ensuring I can focus on my business operations with peace of mind. Thankyou.
4.3 March 17, 2023
Excellent Services
I highly recommend Marine insurance from PolicyBazaar website to anyone in the shipping or logistics industry. Their user-friendly website, comprehensive coverage, and excellent customer service make them stand out from the competition. With Policybazaar, I feel confident in navigating the high seas, knowing that my business is well-protected. Thank you, Policybazaar.
4.3 February 28, 2023
User Friendly Interface
The website's user-friendly interface made it easy to compare different plans and find the perfect fit for my business needs.Thanks
4.3 February 11, 2023
Prompt Services
I appreciate the transparency and honesty with which Policybazaar handled my claims. They were prompt in processing my claim and their claim settlement process was hassle-free.Thanks PolicyBazaar.
3.8 February 10, 2023
Exceeds Expectations
I recently had the pleasure of purchsing marine insurance from Policy bazaar website and I must say it has been an outstnding experience from start to finish. I am thrilled to share my positive customer review, as this truly exceeded my expectations. Thanks PB.
3.8 January 31, 2023
Easy Navigation
The ease of navigating the Policy bazaar website and finding the right marine insurance policy was impressive. The website's user-friendly interface and intuitive design made it incredibly simple to compare various options, understand the coverage details and make an informed decision. I appreciated the transparency provided throughout the process. Thanks.
3.8 January 21, 2023
Excellent Support
The customer service provided by Policy bazaar was decent. Their team was responsive, knowledgeable and went above and beyond to assist me at every step. Their professionalism and commitment to customer satisfaction were truly commendable.Thankyou.
4.3 January 11, 2023
Sanjeev Rathor
Efficient Process
When it came to claims processing, Policy bazaar demonstrated remarkable eficiency and effectivenes. I had an unfortunate incident during the coverage period and filing a claim was a breeze. The entire process was streamlined and their team guided me throuugh every necssary step, making it hassle-free. The promptness with which my claim was setled reflected their commitment to their customers' well-being and peace of mind. Thankyou.
3.8 January 01, 2023
Comprehensive Coverage
I must mention the comprehensive coverage provided by the marine insurance policy I purchasd through Policy bazaar. It offered me the necesary protection and peace of mind. Thankyou PolicyBazaar.