Documents to Submit Along with Claim Form in Marine Insurance

Documents Required Along with Claim Form under Marine Insurance

An insured must understand the claiming process in order to file the marine policy claim. In addition, he must learn about the documents required along with claim form under marine insurance policy.

Let us discuss the documents required along with the claim form under marine insurance policy.

1. Claim Form

   First, the policyholder is required to obtain the claim form. It must be filled in by him in order to proceed further with the claim. The claim form comprises the following details which are required to be filled by the insured.

   • Policy/Cover No.
   • Certificate No.
   • Date
   • Time and date when the loss was detected by the insured
   • The certificate of damage obtained by the carrier
   • Type of Damage
   • Extent of Damage
   • Descriptions of goods in the transit
   • Monetary Claim
   • Invoice No.
   • Mode of transportation

2.  Original Insurance Certificate

   The insurance company provides an insurance certificate while subscribing to the marine policy. The certificate consists of the policy number. The policyholder is required to keep the certificate safe. In addition, the policy number is required to check the policy coverage.

3. Copy of Billing Lading

   The Bill of Lading or BOL is a document that the carrier provides to the shipper. The BOL contains the details of the shipment. It is a means to transfer the title of the goods. It serves the purpose of ensuring that the exporters and importers receive the payment and goods respectively. The BOL is a document required along with claim form under marine insurance policy.

4. Survey Report

   The missing certificate or survey report must be furnished by the insured along with the claim form in marine policy.

5. Original Invoice

   The policyholder must attach the original invoice along with the claim form. In addition, the policyholder is also required to furnish the packing list and weight notes.

6. Shipping Specification

   The shipping specification is another document required along with claim form under marine insurance.

7. Correspond Exchange

   The policyholder must provide copies of the correspondence exchange between him and the insurance company.

8. Claim Bill

   The claim bill is another document which is required to be attached by the policyholder in order to file the insurance claim.

9. Claiming Process in Marine Insurance Policy

   Along with documents, the policyholder must learn about the claiming process involves in marine transit insurance. The following is the claiming process which must be followed by the policyholder.

   • The policyholder must inform the insurance provide about the loss of the goods or damages caused to the marine
   • The insured must inform the incidents immediately after acknowledgement
   • The insurance company shall appoint a surveyor in order to find out the extend of loss
   • The surveyor shall investigate and interpret the loss caused to the policyholder
   • The policyholder must cooperate with the surveyor and answer his queries
   • The surveyor shall make a report and send to the insurance company
   • The insurer shall provide the appropriate compensation. This shall be based on the report furnished by the surveyor

Conclusion

The shipping industry is prone to several kinds of unprecedented risks. Such risks may cause severe damage to an individual. Therefore, an individual must subscribe to marine insurance in order to mitigate such risks.