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.

Read more
marine

Get right expert advice

Hassle free policy

Speedy Claims

Fast-track your search with instant quotes from top insurers

Get ₹10 lakh cover
starting at ₹591/transit+

Step 1/2
Instant policy copy
All commodities available
Single transit and annual covers

Get ₹10 lakh cover starting at ₹591/transit+

Instant policy copy
All commodities available
Single transit and annual covers
secure-icon We don't spam
Get Updates on WhatsApp
Check Your Premium Now
By clicking on "" you agree to our Privacy Policy and Terms Of Use

Get ₹10 lakh cover
starting at ₹591/transit+

Step 2/2
Get Updates on WhatsApp
Fast-track your search with instant quotes from top insurers
Expert advice

Buy right

Instant policy

Quick & Hassle free

Dedicated team

Speedy Claims

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

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
Written By: PolicyBazaar - Updated: 13 October 2023

Marine Insurance Premium Calculator

Select Commodity

  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods
  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods
  • New machinery machine tools & spares in closed ISO containers
  • Solar panel
  • Machinery machine tools & spares duly packed/lashed
  • Electronic & white goods

Select Mode of Transport

  • Road
  • Air
  • Sea
  • Courier
  • Rail

Cover Amount Required

Enter value between 10 thousand to 10 crore

Calculate

Premium starts from

Great! Now Unlock Best Plans for You

No online plans found!

But, we have offline plans ready.
Connect with our advisor to explore more

Schedule a callback
Re-calculate
Marine Insurance Articles
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 6159 Views
Transit of goods through waterways involves high risks. Marine insurance plays a significant role in safeguarding...Read more
23 Nov 2022 by Policybazaar 6303 Views
Warranties in marine insurance are referred to as assurances or promises by the policyholder about a certain act...Read more
20 Jul 2023 by Policybazaar 2478 Views
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 4605 Views
In addition to the basic carrier policy, a Freight insurance policy will provide additional protection for your...Read more
18 Mar 2019 by Policybazaar 20418 Views
Businesses are shifting to eco-friendly transportation options...Read more
12 Dec 2023 by Policybazaar 215 Views
Navigating the complex landscape of transit insurance claims...Read more
24 Nov 2023 by Policybazaar 384 Views
Effective logistics, relying on enhanced trade infrastructure...Read more
22 Nov 2023 by Policybazaar 264 Views
Logistics is a pivotal force driving industrial innovation in...Read more
22 Nov 2023 by Policybazaar 298 Views
Transportation companies in India have a substantial impact on...Read more
22 Nov 2023 by Policybazaar 251 Views
Policybazaar for Business - Marine Insurance - Customer Reviews
View all
4.3/5
Based on 114 reviews
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.
Mumbai
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.
Pune
3.8 January 01, 2023
Kunal
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.
Indore