Universal Sompo Marine Insurance

Universal Sompo Generali Insurance Company Limited is a joint venture berween the Sompo Japan Insurance Incorporation and Dabur investment corporation along with the Indian overseas bank, Indian bank and Karnataka Bank. When it comes down to the Universal Sompor Marine Insurance, it becomes the responsibility of the insurer to provide cover for the loss or damage caused during the transit through air, road, rail and sea.

₹10 Lakh cover at only ₹591/transit⁺

Protect your goods with

single transit cover

We don't spam

Check premium now

By clicking on "Check premium now" you agree to our Privacy Policy and Terms Of Use

Get Updates on WhatsApp

Wallet-friendly plans
24/7 claim support
IRDAI-certified advisors

Features of Universal Sompo Marine Insurance

Universal Sompo marine insurance comes with several features. They are as follows:

Great Service: The Insurer provides the policyholder a world-class service with their latest technology and great customer support system.
Customized Plans: The Universal Sompo General Insurance Company offers a customization option to the policyholder. You can customize your insurance plan while purchasing or renewing it.
Transportation Modes: The marine insurance plan provides cover for transportation through Air, Sea, Road, Rail, Post or parcel, etc.
Assistance & Survey: The Insurer provides worldwide survey and assistance to the policyholder.
Surveyors Network: The insurance company has a wide surveyor network.
Discounts: If there is a transit that is not very much far away then the insurer will provide discounts for it.
Depending Premium Amount: The premium amount of the insurance plan depends upon the nature of cargo, packing, distance, the scope of cover and past claim experiences.
Assignable: The insurance policy is assignable.
Fixed SI: The sum insured is fixed on an agreed value basis. Normally it comes with a margin of 10% on the price stated on the invoice for incidental expense.
Peace of Mind: If you are covered with Universal Sompo marine cargo insurance plan, you don’t have to worry about financial protection for the unforeseen loss or damage of your goods.

What is covered under Universal Sompo Marine Insurance?

Universal Sompo marine insurance provides cover for the following:

Fire: The marine insurance policy provides cover for the loss or damage caused by fire accidents during transit.
Explosion: The policy provides coverage for the loss and damage caused to the goods due to the explosion during the transit.
Jettison: The insurance policy provides coverage for the jettison as well.
Stranding: & sinking: It covers for the loss or damage caused due to stranding of the carrier as well as the sinking of the shipping carrier.
Overturning & Derailing: It provides coverage for the loss or damage caused due to overturning and derailing of the carrier on land.
Loss during Loading/Discharge (Total loss only):It also provides coverage for the total loss caused during the loading or discharging of the goods.
War Risk: The policy covers for the loss or damage caused due to war or war-like situations is covered.
Collision: Universal Sompo marine cargo insurance also covers loss or damage in case the ship, craft or conveyance collides with anything other than ship or craft during the transit. Also if the ship collides with an iceberg causing damage is covered.
Rail & Road: In case of damage caused during the transit through rail or road within India is covered. Loss or damage caused by fire, lightning, breakage of bridges, collision is covered as well.

What is Not Covered under Universal Sompo Marine Insurance?

The Universal Sompo marine insurance policy does not provide cover for the following:

Delay: Universal Sompo marine insurance plan does not provide cover for the delay of the carrier.
Improper Packing: It does not provide cover for the loss or damage caused to the goods due to improper packing.
Insolvency: The insurance plan does not provide coverage for any insolvency caused to the carrier causing loss or damage to the goods.
Wear & Tear: The policy does not provide cover wear and tear of the goods caused during the transit.
Leakage: Coverage is not provided for the leakage causing loss or damage to the goods during the transit.
Loss in Weight/Volume: Claims cannot be filed for the loss in weight and volume of the goods carried by the carrier during transit.
Willful Misconduct: The insurance plan does not provide cover for the willful misconduct causing loss or damage to the goods.
Strike & Riots: It also does not provide coverage for the loss or damage caused during the strike or riots.
Civil Commotion: Loss or damage caused due to civil commotion is excluded as well

How to Raise Claim under Universal Sompo Marine Insurance?

Universal Sompo General Insurance Company provides a seamless claiming process. You can follow the steps mentioned below to raise a claim.

Inform the Insurance Company: Make sure to inform the insurer as soon as you get to know about the loss or damage caused during the transit through rail, road, air or sea.
Get Pictures of Damaged Goods: If possible get the pictures of the damaged goods so that you can keep them with yourself as proof.
Keep Documents Handy: In order to raise a claim and not become the reason for delay, make sure that you keep the documents ready so that you can provide them with the documents to start the process as early as possible.
Fill Claim Form: Ask the insurance company to provide you with the claim form and fill it up properly then you can submit it along with the attachment of documents.
Inspection: The Insurer will send an inspector to the location where the accident took place to check the damage and inspect it to make sure of it.
Provide Assistance: It is suggested to assist the inspector so that the things can be cleared and they can begin with the claiming process as soon as possible.
Compensation Provided: Once the inspector is satisfied and the inspection is done, the insurance company will begin the claiming process and compensate for the loss and damage in a few days.

How to Renew Universal Sompo Marine Insurance Policy?

Universal Sompo marine insurance comes with policy duration and once it is expired and not renewed timely, the insurer will not provide coverage for it. Here are the steps that you will have to follow in order to renew the insurance plan.

Step 1: Go to the insurance company’s official website.
Step 2: Fill in the detail like Name, Policy number, etc.
Step 3: It will show you the policy details and the expiration date.
Step 4: Review the plan once and make sure all the details are correct.
Step 5: Add or remove any add-on as per your requirement.
Step 6: if addition or subtraction of add-on will reflect your insurance premium amount.
Step 7: You can pay the new premium amount using your debit/credit card, UPI or Net banking.
Step 8: Once the payment is done, the insurance company will send you a confirmation mail and message on your email ID.

In order to avoid the cancellation of the policy make sure to renew the policy before the expiration date.

Why Buy from Policybazaar Insurance Brokers Private Limited?

Purchasing the Universal Sompo Marine insurance plan from the Policybazaar Insurance Brokers Private Limited makes your buying experience seamless. You can compare different insurance plans, learn about the policy in detail, and then make the right purchase. The comparison makes it easier for you to get to know about the premium amount you will have to pay and that is how you can decide if the policy is in your budget or not.

FAQs

Q1: Is it possible to raise Universal Sompo marine insurance claim online?

Ans: Yes, you can raise the claim online for the loss or damage of the goods.
Q2: Does the Universal Sompo marine insurance policy provides coverage for the loss caused due to delay in transit?

Ans: No, Universal Sompo marine insurance does not cover any loss caused due to a delay in transit.
Q3: What are the transportation modes covered under the Universal Sompo Marine Insurance plan?

Ans: The Universal Sompo Marine Insurance plan provides coverage for damages incurred during transportation via air, sea, rail and road.
Q4: What if the carrier of the goods collides with an iceberg during transit causing damage to the goods, will it be covered?

Ans: The Universal Sompo marine insurance plan does provide cover for the loss or ] damage caused to the goods if the ship collides with an iceberg.

View More

Learn more about Marine Insurance

Annual open Policy

Read More

Single Transit Policy

Read More

Sales turn over Policy

Read More

Transit Insurance

Read More

Marine Insurance

Read More

Cargo Insurance

Read More

Read More

Download Policy Wordings of TATA AIG

Why Buy From Policybazaar

Marine Insurance Companies

View more insurers

Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Commercial Insurance Products

Group Health Insurance

Marine Insurance

Cargo Insurance

Workmen Compensation Insurance

Professional Indemnity

Fire Insurance

Shop Insurance

Comprehensive Liability Insurance

Construction All Risk

Erection All Risk

Cyber Insurance

Directors & Officers Insurance

Contractor's Plant & Machinery

Office Package Policy

Group Personal Accident Insurance

Group Life Term Insurance

Drone Insurance

We don't spam

View plans

By clicking on " Check Your Premium Now " you agree to our Privacy Policy and Terms Of Use

Marine Insurance Articles

Popular Articles
Recent Articles

Why Is Insuring Your Household Articles Important During Transit?

Why Is Insuring Your Household Articles Important During Transit?

When moving to a new home, safeguarding your household articles during transit is crucial. Transit insurance...Read more

27 Oct 2020 by Policybazaar 17810 Views

Documents Required for Import-Export Customs Clearance

Documents Required for Import-Export Customs Clearance

Any shipment moving from one country to another requires customs clearance. Apart from international laws and...Read more

22 Nov 2022 by Policybazaar 13284 Views

Difference between Marine Open Cover & Marine Open Policy

Difference between Marine Open Cover & Marine Open Policy

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 11461 Views

Warranties in Marine Insurance

Warranties in Marine Insurance

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 9501 Views

Top Import Export Business Ideas for Sellers in India

Top Import Export Business Ideas for Sellers in India

India's import-export sector has experienced rapid growth in recent times. This is due to globalisation...Read more

27 Aug 2025 by Policybazaar 3830 Views

Insurance for Transporting Goods in India

Insurance for Transporting Goods in India

In the intricate web of India's transport industry, the movement of goods plays a vital role in driving the...Read more

03 Nov 2023 by Policybazaar 6088 Views

Types of Marine Losses

Types of Marine Losses

In the shipping business, different types of losses can happen. Marine insurance helps manage these risks by...Read more

23 Nov 2022 by Policybazaar 13510 Views

What is Carrier Legal Liability Insurance?

What is Carrier Legal Liability Insurance?

Within the transportation industry, where goods traverse vast distances across different modes of transport,...Read more

29 Apr 2024 by Policybazaar 5167 Views

6 Not to Forget Principles of Marine Insurance

6 Not to Forget Principles of Marine Insurance

The principles of marine insurance are essential for maintaining fairness and consistency in the delivery of...Read more

10 Feb 2020 by Policybazaar 17304 Views

Inland Transit vs Marine Cargo insurance

Inland Transit vs Marine Cargo insurance

If your business involves the transportation of finished or unfinished goods or raw materials, you probably need a...Read more

15 Nov 2022 by Policybazaar 9111 Views

What is Multimodal Transport Operator Insurance?

What is Multimodal Transport Operator Insurance?

Multimodal Transport Operator Insurance provides crucial financial protection to Multimodal Transport Operators...Read more

20 Mar 2024 by Policybazaar 3660 Views

Transit Insurance for Delivery Business

Transit Insurance for Delivery Business

Whenever goods and commodities are on the move, they are at risk of damage. A logistics company's reputation can...Read more

28 Feb 2024 by Policybazaar 4692 Views

What is the Customs Tariff Act 1975?

What is the Customs Tariff Act 1975?

India's international trade relies on rules that define how goods are taxed at the border. The Customs Tariff...Read more

05 Jan 2026 by Policybazaar 367 Views

International Cargo Clauses & Inland Transit Clauses in Marine...

International Cargo Clauses & Inland Transit Clauses in Marine...

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 13874 Views

Incoterms Explained Marine Insurance

Incoterms Explained Marine Insurance

Incoterms or International commercial terms are some standard terms published by the ICC (International Chamber of...Read more

10 Aug 2023 by Policybazaar 6408 Views

What is the Customs Tariff Act 1975?

What is the Customs Tariff Act 1975?

India's international trade relies on rules that define how...Read more

05 Jan 2026 by Policybazaar 367 Views

What are E-commerce Exports?

What are E-commerce Exports?

E-commerce exports refer to selling and delivering products or...Read more

26 Sep 2025 by Policybazaar 680 Views

What is Anti-Dumping Duty?

What is Anti-Dumping Duty?

Anti-Dumping Duty (ADD) is a tariff imposed by governments to...Read more

25 Sep 2025 by Policybazaar 1052 Views

What is MEIS?

What is MEIS?

The Merchandise Exports from India Scheme (MEIS) was introduced...Read more

11 Sep 2025 by Policybazaar 827 Views

Top Import Export Business Ideas for Sellers in India

Top Import Export Business Ideas for Sellers in India

India's import-export sector has experienced rapid growth in...Read more

27 Aug 2025 by Policybazaar 3830 Views

12 Documents Required for Exporting Goods from India

12 Documents Required for Exporting Goods from India

In foreign trade, the significance of proper documentation...Read more

09 Jun 2025 by Policybazaar 2485 Views

What is Export?

What is Export?

Export is the sale of goods and services manufactured in a...Read more

30 Apr 2025 by Policybazaar 2300 Views

Types of Shipping Containers with Size & Dimensions

Types of Shipping Containers with Size & Dimensions

Shipping containers have evolved over the years. Now, businesses...Read more

25 Apr 2025 by Policybazaar 1325 Views

How to Choose the Right Shipping Line in 2025: Top 5 Key Factors

How to Choose the Right Shipping Line in 2025: Top 5 Key Factors

Selecting the right shipping line is crucial for Indian...Read more

07 Apr 2025 by Policybazaar 1622 Views

How to Create a Freight Forwarding RFP for Shipping?

How to Create a Freight Forwarding RFP for Shipping?

RFP, or Request for Proposal in freight forwarding, is a formal...Read more

03 Apr 2025 by Policybazaar 1400 Views

What is Pallet Shipping?

What is Pallet Shipping?

Pallet shipping is a mode of transporting goods using pallets to...Read more

02 Apr 2025 by Policybazaar 1547 Views

What are High Cube Containers in Shipping?

What are High Cube Containers in Shipping?

‘High Cube containers’ is a category of shipping containers...Read more

02 Apr 2025 by Policybazaar 2417 Views

International Shipping - How to Start Shipping Internationally From...

International Shipping - How to Start Shipping Internationally From...

Expanding your business to international markets can be a...Read more

01 Apr 2025 by Policybazaar 1574 Views

Products to Export from India

Products to Export from India

India has largely been an agricultural economy but has turned...Read more

18 Mar 2025 by Policybazaar 3606 Views

Modes of Transportation Covered Under Marine Insurance

Modes of Transportation Covered Under Marine Insurance

Marine insurance is essential for protecting goods during...Read more

23 Oct 2024 by Policybazaar 2776 Views

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
By clicking on "View Plans" you agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover.
The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.

Claude

Insure your shipment & protect your goods from

overturning