Sagar Bandhu Bima Insurance

Get the right cover for Hull and Machinery

Sagar Bandhu Bima Insurance Policy

The specially designed policy for small inland/ coastal vessel operators covering H&M, wreck removal and collision liability

Cover for H&M, wreck removal, and 4/4th collision liability as per Institute Port Risks Clause 1987.

Covers liability for damage to other vessels.

Cover liability for loss or damage to third party property.

Cover liability for wreck removal.

Cover liability for the crew.

Covers liability to persons other than crew.

Covers liability for pollution risks.

Covers liability for damage to cargo.

What it covers?

What it covers?

The Indian market currently provides cover for Hull and Machinery of inland/coastal vessels as per Institute Time Clause Hulls 01.10.1983. Besides covering the H&M this clause also provides cover for 3/4th collision liability. However, Institute Port Risks Clause 20.07.1987 provides cover for 4/4th collision liability and also wreck removal subject to the limit of H&M sum insured.

While the P&I cover was available to large vessel operators through international clubs, the small vessel operator was fending for himself against potential liabilities incurred by him for wreck removal & liability for collision with FIFO ( fixed and floating objects), if these exceed the value of the vessel itself.

We had formulated Sagar Bandhu Bima Policy keeping in mind the small inland/ coastal vessel operators. This unique product has been approved by IRDA and was launched on 26th November 2005.

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Sagar Bandhu Bima Insurance