Marine
Open Policy

With a Marine Cargo Open Policy your goods are covered while in transit. The Open Policy only ends if the agreement is cancelled by you, or by us.

All you need to do is advise us of the value of all cargo transits that fall within the scope of your policy. Your policy will be reviewed each year and may be adjusted, even though the cover continues automatically.

An Open Policy means your goods are automatically covered for the transits shown in the policy. You don’t need to worry about forgetting to arrange insurance for any single transits.

A Marine Cargo Open Policy sets out

• The name of the insured
• A general description of your goods
• The countries involved
• The maximum values covered under the policy
• How the goods will be valued
• The terms and conditions of insurance

Premium payment options

If you’re taking out a Marine Cargo Open Policy with us, there are two ways to pay your premiums.

You can pay the premium annually with a minimum and deposit premium payable at the beginning of the period. The premium is then adjusted at the end of the year based on the value of goods you actually sent.

Alternatively you can choose to pay your premiums at various periods throughout the year based on declarations of actual shipment values. If you’re unsure what level of shipments you expect over the next 12 months, a declaration-based policy can provide the flexibility you require, and the comfort of knowing that your shipments are covered.