What is Duty insurance?

Custom duty is a type of tax which is imposed on items that are brought within a country from a foreign country. If the item purchased is bought from a duty free shop then the custom duty is not paid. But if the item is purchased from a shop which does not sell duty free products then custom duty has to be paid for such an item to bring the item within a different country.
Since the custom duty is an expensive affair custom duty insurance is available for such items so that if someone loses a custom duty product he or she can ask for the coverage. Some companies which provide custom duty insurance are palm insurance, ACKO general insurance and many more.