An insurance policy that describes the nature and extent of coverage for a shipment. Consignees are assured that insurance is provided in case of loss of or damage to cargo in transit. Sometimes a shipper will issue a certificate certifying that a shipment has been covered under an open policy, and claiming that the certificate represents and takes the place of that policy, whose provisions control. Using a special marine policy has become the norm due to the objections that such an instrument did not constitute a "policy" within the meaning of letters of credit. There are no differences between a special marine insurance policy and an open marine policy, which stands on its own as an obligation of the underwriter. The policy is also known as a special cargo policy or an insurance certificate.

An insurance policy guarantees that the cargo's loss or damage will be covered while it is in transit. Shippers (or other parties) receive a certificate from an insurer as proof that a marine policy covers their shipment of goods.

Unlock the Benefits of FreightMango

Instant Quotes

Don't wait days or weeks. Get quotes instantly and compare offers in real time to find the best rate for you.

Book Online

Sort out your shipping online with a few clicks.

Document Management

Manage your shipping documents online, 24/7. Communicate and collaborate with internal and external stakeholders all in one place.

Track and Trace

Track your shipments 24/7 and provide accurate estimated delivery times.

Stay Consistent

Keep your shipping consistent and meet your delivery commitments by managing everything in FreightMango.

Sounds Good.

Start by searching a quote