Goods In Transit Insurance

1. What does goods in transit insurance cover?

Goods in Transit insurance covers loss or damage to raw materials, goods, products and or merchandise whilst being transported from one place to another.

2. Why do I need goods in transit insurance?

Anyone involved in the transportation business needs this type of insurance. It protects against loss or damage to raw materials, goods, products or merchandise while they are being moved from one location to another. It also covers losses or damage that occur during loading, transporting, or unloading from a vehicle. This includes accidents like collisions, overturning, theft, or pilferage that may happen after a collision, overturning, or derailment of the vehicle carrying the goods.

3. What are the benefits of having goods in transit insurance?

This insurance covers loss or damage to goods during loading, unloading, or transportation, as well as from accidents like collisions, overturning, or derailment of the vehicle. It also covers theft or pilferage that occurs after an accident. Additionally, it covers cost of transferring goods to another vehicle after an accident, security at the accident site, damage to items like tarpaulins, straps, or packing materials and cost of debris removal.

4. What document will I get after buying goods in transit insurance?

After buying Goods in transit (GIT) insurance, you will receive a policy document which is a written contract of insurance between the insured and the insurer. It contains terms and conditions of the insurance cover as well as the risks covered. Ensure that you read and understand the contents of your policy document.