Marine Cargo Policy covers loss/damage to property insured due to:

Marine Cargo covers are generally based on Institute Cargo Clauses, viz., ICC (A), ICC (B) and ICC(C). ICC (A) is based on ''All Risks'' while (B) and (C) cover named perils only.
Coverage under the clauses are subject to general exclusions.

Premium rating:

The insurance rate depends on a variety of factors such as the nature of the cargo, scope of cover, packing, mode of conveyance, distance and past claims experience.

Marine cargo insurance policy provides commercial indemnity and it is customary to issue policies on agreed value basis.

Sum Insured in a marine cargo policy is normally based on Actual Invoice Value plus expenses incidental to transit (generally not exceeding 10% of the Invoice value).