Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes

Iron, steel rods, metal pipes and tubes are excessively used items in the constructions sites. However, while transporting these items from the manufacturing plant to the buyer’s location, several risk get involved. To cover those unforeseen risks, insurance companies offer different types of marine insurance plans that financially protect the insured.

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Importance of Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes

It is important for the manufacturers of these items to purchase marine insurance policy as it covers all kinds of risks that could happen between the point of origin and destination. Marine insurance not only provides cover for the transportation through sea but also rail, road and air. Marine insurance for Iron, Steel rods, Metal pipes and Tubes provides coverage for perils like explosion, collision, natural calamities, etc.

Coverage under Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes

Marine insurance for Iron, Steel rods, Metal pipes and Tubes provides coverage for the following:

Damage caused due to fire, sinking and stranding are covered
Expenses incurred due to collision, derailment of land conveyance or overturning during the transportation are covered
Jettison and washing overboard
If the cargo leaves a port of distress that incurs some kind of expense
Natural calamity such as earthquake or lightning that caused damage during the transportation
General average sacrifice salvage charges are covered
Total loss of goods are also covered

Learn more about Marine Insurance

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Transit Insurance

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Marine Insurance

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Cargo Insurance

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Exclusions under Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes

Marine insurance for Iron, Steel rods, Metal pipes and Tubes does not provide cover for the following:

Bad packaging quality leading to any further damage to the Iron, Steel rods, Metal pipes and Tubes are not covered
Intentional loss or damages caused to the Iron, Steel rods, Metal pipes and Tubes are not covered
Bankruptcy, liquidation or collapse of funds are not covered
Loss of insolvency is not covered
Some insurers do not cover damage caused due to war, strikes, riots, etc.
Regular wear and tear of Iron, Steel rods, Metal pipes and Tubes are not covered

Claiming Process for Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes

Have a look at the claiming process mentioned below:

Inform the insurance company about the loss and damage
If insured cannot inform the insurer then anyone on his behalf can do it
In case of extreme damage caused to the Iron & Steel Rods, Metal Pipes, Tubes at the time of delivery, the insured can ask for a thorough survey and lodge a monetary claim
If any of the Iron & Steel Rods, Metal Pipes, Tubes goes missing then policyholder can file an FIR because the insurer would ask for an FIR as it is a case of theft.

Marine Insurance for Marine Insurance for Iron & Steel Rods, Metal Pipes, Tubes: Documents Required

Insured need to submit the following documents along with the claim form to raise the claim:

Copy of the policy
Survey report
Billing lading copy
Claim bill
Original invoice along with the shipping specification
Copy of letters that were exchanged with the carrier

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Policybazaar for Business - Marine Insurance - Customer Reviews

View all 114 reviews

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4.3

out of 5

Based on 114 reviews

14 users

87 users

13 users

0 users

0 users

3.8 April 20, 2023

Anas

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.

Mizoram

4.3 April 03, 2023

Vaishnav

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.

Assam

4.3 March 17, 2023

Umang

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.

Chennai

4.3 February 28, 2023

Vishal

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

Gurugram

4.3 February 11, 2023

Parth

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.

Noida

3.8 February 10, 2023

Rishabh

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.

Jamshedpur

3.8 January 31, 2023

Arvind

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.

Ajmer

3.8 January 21, 2023

Vishal

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.

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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.

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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
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