Shipping · 11
Marine insurance certificate
Proof that the goods are insured for transit. Under CIF and CIP the seller must provide it.
- Certificate no.
- MC/0000/2099
- Insured
- Sharma Agro Exports, Indore
- Voyage
- Indore → Nhava Sheva → Jebel Ali
- Goods
- Turmeric fingers, 480 bags
- Sum insured
- USD 22,000 (invoice + 10%)
- Cover
- Institute Cargo Clauses (A)
- Issued by
- A general insurance company
- Used in
- Exports and imports
Why it matters
If the container is lost or damaged, this is how someone gets paid. Under an LC, the bank checks the insured value and cover against the LC terms.
What goes on it
- Insured party, policy number
- Goods, voyage, vessel or flight
- Sum insured (often invoice value plus 10%)
- Cover clauses (Institute Cargo Clauses A, B or C)
- Claims agent at destination
Avoid these mistakes
- Under Incoterms 2020, CIF needs only minimum cover (Clauses C) but CIP needs all-risks cover (Clauses A) unless agreed otherwise.
- Even on FOB, think about cover from your factory to the port — that leg is your risk.
Sources (1)
More shipping documents
All documents →- ShippingBothCommercial invoiceThe final bill you raise on the overseas buyer. Customs in India and in the buyer's country both read it.
- ShippingBothPacking listA package-by-package list of what is inside the shipment, with weights and sizes.
- ShippingExportShipping billThe export declaration to Indian Customs. Goods cannot leave India until customs gives Let Export Order (LEO) on it.