Single Transit Insurance Policy
"Single Transit Insurance Policy:
Protecting Your Journey, Every Step of the Way."
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For Single Transit Insurance Policy
- Sample Headings
About STI- Single Transit Insurance.
- What is STI? (Click on Every points should be get breif explanation as below mentioned Contents)
- Basic Coverages.
- Add On Coverages.
- Claim Process Support.
- Free Consultation for the PLI Product.
What is STI?
Single transit insurance in marine cargo insurance is a type of coverage that protects goods for a single journey or shipment from one location to another. It typically covers various risks associated with transportation.
This type of insurance is often chosen for one-time or infrequent shipments rather than regular, ongoing trade. It is particularly useful for businesses or individuals who do not need a continuous coverage plan.
Basic Coverages
- Damage to goods: Due to accidents, handling, or other perils during transit.
- Loss of goods: Including theft or disappearance during the journey.
- Delay: Leading to financial losses for the shipper.
- Natural disasters: Such as storms, earthquakes, or other events that can damage the cargo
Add-on Coverages
Add-on coverages, or extensions, can be purchased in addition to a basic single transit marine cargo insurance policy to provide enhanced protection. Common add-on coverages include:
- War Risk Insurance: Covers losses due to war, civil war, revolution, or other hostilities.
- Strikes, Riots, and Civil Commotions (SRCC) : Protects against losses caused by strikes, riots, or civil disturbances.
- Contamination: Covers damage or loss due to contamination of goods.
- Theft of Cargo: Provides additional coverage for theft beyond standard policy limits.
- Accidental Damage: Covers damage that occurs due to unforeseen accidents not included in the standard policy.
- Extended Coverage for Specific Perils: Such as piracy, natural disasters, or specific handling risks.
These add-ons help tailor the insurance to the unique needs and risks associated with a particular shipment.