The policy covers loss or damage to cargo during single voyage as well as multiple voyages during a given period-usually annual-when carried by water, air and/or land. This policy can be particularly useful for the import or export of cargo.
Sum Insured
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The cargo is usually covered for CIF+10%
Premium
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Premium charged depends upon factors like mode of transport,the nature of cargo carried ,distance
involved, mode of packing, clause incorporating the perils opted for and so on.
