Custom Duty Cover
This policy/ cover is applicable to imports in India only.
This can be taken as a rider to a marine insurance policy and covers loss of custom duty paid if goods arrive in damaged condition. It can be taken as a standalone policy if the overseas transit has been covered by an insurance company abroad, but it has to be taken before the goods arrive in India.
The Duty Policy excludes claims in respect of :
- Total loss of whole or part of cargo prior to duty becoming payable.
- General Average, Salvage and/ or salvage charges arising from any casualty occurring prior to duty becoming payable.
