SBI General Marine Cargo Insurance

A joint venture of State Bank of India and Insurance Australia Group (IAG), the company provides a wide range of general insurance policies in commercial, retail, motor, travel and home at affordable prices. When it comes down to the SBI General Marine Cargo Insurance, the plan provides cover for the transit through road, air, rail and sea. The SBI General has 21,000 IRDAI certified employees working as well as the State Bank Group employees and around 8000 agents making the customers ' experience seamless.

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Features of SBI General Marine Cargo Insurance

SBI General marine cargo insurance comes with several features. Here are those features

  • Good Service: The insurer provides good service to the policyholder so that the customer does not have to worry much.
  • Customized Plans Available: The insurance company provides customization features to the policyholder so that they can design the insurance plan according to their requirement.
  • Transportation: The plan provides coverage for the transportation modes through air, rail, sea, road and parcel transportation also.
  • Assistance & Survey: The insurer provides assistance and survey to the policyholder as quickly as possible.
  • Surveyors Network:The insurance company has a wide network of surveyors.
  • Online Savings: The insurer provides online savings depending on the distance covered by the carrier.
  • Live In Peace: By opting for the SBI general marine insurance plan you can live your life in peace as you won’t have to worry about any loss or damage caused during transit.

What Is Covered Under SBI General Marine Cargo Insurance?

The SBI General Marine Cargo Insurance provides cover for the following:

  • Fire: The plan provides cover for the damage caused because of the unforeseen fire accident.
  • Shock: The insurance plan provides coverage for the damage caused to the vessel or goods due to any shock.
  • Impact Damage: The plan provides cover for the damage caused due to an impact.
  • Jettison: Jettison coverage is also there.
  • Distress: The plan provides cover for the loss or damage caused due to distress at the port during the discharge of the carrier.
  • Aircraft Damage: The insurance plan provides cover for the loss or damage caused to the goods or aircraft during the transit through the airplane.
  • Natural Calamity: The insurer provides cover for the loss or damage caused to the carrier or goods due to natural calamity such as earthquake, cyclone, storm, typhoon, etc.
  • Malicious Damage: The insurance plan provides cover for any malicious damage.
  • Overturning & Derailment: The insurance plan provides cover for the overturning of the vehicle on land or derailment of the train.
  • Collision: Loss or damage caused to the carrier due to collision with an external object except for water.
Learn more about Marine Insurance

What Is Not Covered Under SBI General Marine Cargo Insurance?

The SBI General marine cargo insurance plan does not provide cover for the following:

  • Willful Misconduct: The insurance company does not provide cover for the loss or damage caused due to willful misconduct of the policyholder.
  • Inevitable Loss: The insurance plan does not provide cover for the loss caused due to something inevitable.
  • Insufficient Packing: The marine insurance plan does not provide coverage for the loss or damage caused due to improper and insufficient packing.
  • Delay: The insurance plan does not provide coverage for the loss caused due to the delay of the carrier.
  • Insolvency or Financial Default: The insurer does not provide coverage for the loss or damage caused due to insolvency or financial default of the owner, manager, operators of the vessel.
  • War: The insurance company does not provide coverage for the loss or damage caused in a war or war-like situation.
  • Unseaworthiness: The policy does not provide coverage for the loss or damage caused due to unseaworthiness or unfit vessel.
  • Seizure: In case the carrier gets seized the insurance plan will not provide coverage for it. Except for the piracy at sea.
  • Terrorist Attack: The insurance company does not provide coverage for any loss or damage caused due to a terrorist attack.

How To Raise Claim Under SBI General Marine Cargo Insurance?

 SBI General Insurance Company provides an effortless claiming settlement process. Follow the steps below to raise your claim.

  • Inform The Insurer: First and foremost, inform your insurer as soon as you get to know about the incident causing damage.
  • Take Pictures of Damage: If it is possible then take or get the pictures of the damage caused in the incident so that you can have proof of it.
  • Keep Document In Hand: If you do not want to delay the claiming procedure to get delayed because of you only then make sure to keep the documents ready.
  • Fill Claim Form Properly: Make sure to fill the claim form properly and check if you have filled in correctly before submitting it.
  • Inspection: The insurer will send an inspector and get the inspection done before authorizing the claim.
  • Assist The Inspector: When the inspector arrives, make sure that you assist him/her with whatever they require and tell them about the incident properly.
  • Compensation: When the inspector gets satisfied, he will send let the insurer know and they will compensate for the loss as soon as possible.

How To Renew SBI General Marine Cargo Insurance?

The SBI General Marine Cargo insurance plan comes with a policy duration. This is why you have to renew it before expiration to get the insurance benefits. Follow the steps below to renew the insurance plan.

  • Step 1: Go to Insurer’s official website.
  • Step 2: Fill in the detail such as policy number, name, etc.
  • Step 3: You will get to see the policy details.
  • Step 4: Review your plan and make sure it is correct to your knowledge.
  • Step 5: You can add or remove any add-on as per your need.
  • Step 6: When you add or remove an add-on then it will reflect in your premium amount.
  • Step 7: Make the payment using a Debit/credit card, net banking, UPI, etc.
  • Step 8: Once you make the payment then you will get a confirmation mail and message on your registered mobile number.

If you want to avoid the cancellation of your insurance plan then make sure to renew it before expiry.

Why Buy From Policybazaar Insurance Brokers Private Limited?

If you want to experience a seamless buying experience then you must purchase the SBI General Marine Cargo insurance plan from Policybazaar Insurance Brokers Private Limited. You can compare different plans and their premium amount also. You can calculate the premium amount using the premium calculator online.

FAQs

Written By: PolicyBazaar - Updated: 23 August 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

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Policybazaar for Business - Marine Insurance - Customer Reviews
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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