Sustainable Transportation & Role of Marine Insurance

Businesses are shifting to eco-friendly transportation options, such as rail and river transport, to reduce their environmental impact and meet consumer expectations. This move not only benefits the environment but also lowers shipping costs and enhances the company's image. However, adapting to these greener options poses logistical challenges, requiring a re-evaluation of supply chains.

Read more
marine

Get right expert advice

Hassle free policy

Speedy Claims

Fast-track your search with instant quotes from prominent 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

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

Step 2/2
Fast-track your search with instant quotes from prominent insurers
Expert advice

Buy right

Instant policy

Quick & Hassle free

Dedicated team

Speedy Claims

Rail Transportation

Benefits: Rail transport is energy-efficient, producing lower emissions compared to road or air transport. It's particularly well-suited for bulk shipments and long-distance travel.

Considerations: Limited accessibility to certain locations and dependence on existing rail infrastructure.

Marine Transportation

Benefits: Shipping goods by sea is one of the most environmentally friendly options, offering high cargo capacity and fuel efficiency.

Considerations: Longer transit times, dependency on ports, and potential challenges with last-mile connectivity.

Learn more about Marine Insurance

Sustainable Air Cargo:

Benefits: Utilizing more fuel-efficient aircraft and exploring sustainable aviation fuels can make air transportation more environmentally friendly.

Considerations: High emissions compared to other modes; ongoing efforts to improve fuel efficiency.


Criteria for Selecting Sustainable Transportation Modes

Adopting sustainable transportation is commendable, but its integration into your supply chain should align with various considerations. Here are key criteria to weigh when choosing more sustainable modes of transport:

Distance

For long distances, environmentally friendly options like rail or river transport are generally more efficient. Short distances may favor trucks, especially in areas lacking loading dock infrastructure. Consider a fleet of next-generation vehicles for such scenarios.
For very long distances, such as intercontinental shipping, maritime or air transport becomes necessary, with maritime being more efficient but not suitable for all goods.

Type of Goods

The nature of goods impacts transportation speed requirements. Perishable items may necessitate faster options like air transport for long distances.
Consider the specific constraints of goods being transported; for instance, shipping eggs has different requirements compared to shipping cars.

Cost

Balancing profitability with sustainability is crucial. While electric trucks may currently cost more than traditional diesel trucks, government subsidies and tax breaks in some regions can offset these costs.
Train travel presents an economically favourable alternative, especially for long distances.

Other Benefits of Sustainable Transport in the Supply Chain:

Improve Company Image

Sustainable transportation not only reduces environmental impact but also serves as a powerful marketing tool. Consumer awareness and preference for environmentally responsible companies are on the rise.

Gain Resilience

Incorporating sustainable transport options enhances the resilience of your supply chain, making it less reliant on fossil fuels.

This proactive approach helps anticipate and withstand potential challenges like oil crises, refinery strikes, armed conflicts, and natural disasters.

Role of Marine/Transit Insurance:

Despite the sustainability benefits, the maritime industry faces inherent risks such as natural disasters, accidents, and cargo damage during transit. This underscores the importance of marine or transit insurance:

  • Coverage for Loss or Damage: Marine insurance protects businesses against financial losses resulting from damage or loss of goods during transit, whether by sea, air, or land.
  • Risk Mitigation: By providing coverage for various risks, including theft, accidents, or unforeseen events, marine insurance enables businesses to mitigate financial risks associated with transporting goods.
  • Global Supply Chain Protection: As businesses engage in international trade, marine insurance becomes crucial for safeguarding goods throughout the complex global supply chain.
  • Ensuring Business Continuity: Marine insurance ensures that disruptions or losses in transit don't impede business operations, providing a safety net for companies relying on smooth and secure transportation.

Conclusion

The move to sustainable transportation, embracing rail, river, and marine modes, signals a commitment to environmental responsibility, cost efficiency, and positive corporate image. Strategic considerations, such as distance and goods type, guide the selection of eco-friendly options. While marine/transit insurance plays a vital role in risk mitigation and business continuity, the overall approach balances environmental benefits with resilient and responsible business practices.


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

Now help your friend get Business Insurance

Your referral is greatly appreciated!

Our team will reach out to your friend soon to help with their business insurance requirements.

Marine Insurance Articles
In the shipping business, different types of losses can happen. Marine insurance helps manage these risks by...Read more
23 Nov 2022 by Policybazaar 7897 Views
When moving to a new home, safeguarding your household articles during transit is crucial. Transit insurance...Read more
27 Oct 2020 by Policybazaar 10212 Views
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 7674 Views
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 3860 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 5838 Views
Within the transportation industry, where goods traverse vast...Read more
29 Apr 2024 by Policybazaar 462 Views
The accumulation clause in marine insurance is a crucial...Read more
05 Apr 2024 by Policybazaar 420 Views
Transporting goods across the vast expanse of oceans comes with...Read more
05 Apr 2024 by Policybazaar 691 Views
Shipping insurance for high-value items is crucial to mitigate...Read more
03 Apr 2024 by Policybazaar 371 Views
Intermediate storage in marine insurance plays a crucial role in...Read more
03 Apr 2024 by Policybazaar 415 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