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Goods in Transit Insurance

This type of insurance is intended to insure goods or liability whilst in transit on Land by Road and/or Rail and at times by Air.

The goods-in-transit covers loss or damage during actual transit including loading and unloading of goods in the ordinary course of transit. The Hauliers Liability policy, on the other hand, covers the liability of the transporter from the time the goods are in his custody to the time of delivery. These types of Insurance are usually affected by:

Types of Cover

• Loss or damage or liability due to All risks
• Loss or Damage or liability due to fire, collision (subject to exceptions, limitations and conditions of the policy) or overturning of the conveying vehicle or derailment of the railway wagon.
• Loss or Damage or liability caused by or rising from theft or attempted theft from the carrying conveyance. This however, is normally made an integral part of 1 or 2 above. The theft risk is not insured on its own under these policies.

Basis of Cover

• This is an annual policy where the premium is deposited at the inception of the cover / policy and adjustable on the basis of the actual transit turnover or the total Haulage Revenue in respect of the Hauliers Liability at the end of the period of Insurance.
• - Specific Basis only