This policy covers goods, freight and other interests against loss or damage to goods whilst being transported by rail, road, sea or air. Different policies are available depending on the type of coverage requited from an ALL RISK.


Transportation of goods can be broadly classified into two categories:

Inland Transport

  1. Inland Open Policy: For covering transit of regular consignments over the same route. The policy can be taken for an amount equivalent to three months dispatches and premium paid in advance. As each consignment is dispatched, a declaration giving details of the dispatch including dispatch No. is to be sent to the insurer and the sum insured gets reduced by the amount of the declared dispatch. The sum insured can be increased any number of times during the policy period of one year; but care should be taken to ensure that adequate sum insured is available to cover the consignment to be dispatched.
  2. Special Declaration Policy: For covering inland transit of goods wherein the value of goods transported during one year exceeds a fixed agreed amount. Although the premium for the estimated annual turnover [i.e. the estimated value of goods likely to be transported during the year has to be paid in advance.
  3. Multi-transit Policy: For covering multiple transits of the same consignment including intermediate storage and processing. For e.g. covering goods from raw material supplier’s warehouse to final distributor’s goodown of final product.


  1. Specific Policy: For covering a specific import/export consignment.
  2. Open Policy: This policy which is issued for a policy period of one year indicates the rates, terms and conditions agreed upon by the insured and insurer to cover the consignments to be imported or exported. A declaration is to be made to the insurance company as and when a consignment is to be sent along with the premium at the agreed rate. The insurance co. will then issue a certificate covering the declared consignment.

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