The policy covers loss or damage to cargo during single voyage as well as multiple voyages during a given period-usually annual-when carried by water, air and/or land. This policy can be particularly useful for the import or export of cargo.

Benefits : 

Sum Insured:
The cargo is usually covered for CIF+10%

Premium:
Premium charged depends upon factors like mode of transport,the nature of cargo carried ,distance involved, mode of packing, clause incorporating the perils opted for and so on.