Cargo Cover From Dispatch to Delivery.

A single-transit policy covers one shipment; an open policy covers all your shipments over a year, by declaration. ICC (A) is the widest, covering all risks except those excluded; (B) and (C) cover named risks only, with (C) the narrowest.

Tell the insurer and us at once and ask for a survey. Give the carrier written notice of the damage: at delivery for sea cargo, or within 3 days if it wasn't visible. Keep the invoice, packing list, bill of lading or lorry receipt and every message with the carrier. We once recovered ₹1.5 crore, with interest, after an insurer first rejected a cargo claim.

The claim is cut in the same proportion. If stock worth ₹1 crore is insured for ₹50 lakh, a ₹10 lakh loss pays about ₹5 lakh. Some standard policies forgive a small shortfall, but the safe answer is to insure at the right value and review it every year.

Call us, and tell the insurer as soon as you can: most policies set a time limit. Keep every bill, report and photo. Don't repair damage or throw away damaged goods until the surveyor has seen them, unless you're told you can. For theft, or a road accident with injury, file a police report.

Under IRDAI's 2024 rules, a life claim should be settled within 15 days of intimation once the documents are in, or 45 days if it needs investigation. For general insurance (motor, fire, marine), the surveyor should be appointed within 24 hours, report within 15 days, and the insurer should decide within 7 days of the report. A late insurer owes interest.