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Goods in Transit Insurance is designed to protect goods while they’re being moved from one place to another. It’s a useful Motor Insurance supplement for those who drive commercial vehicles.
A Goods in Transit policy should be part and parcel of successfully running a Transport, Logistics or Warehousing business. Particularly as it applies to anyone who transports their own goods in a van to and from work.
This cover is particular important for those who are transferring goods which are not their own. Your clients are likely to expect you have some form of insurance protection and a Goods in Transit policy helps to give them peace of mind. Otherwise, you could lose their business or your reputation could suffer as a result of not having the cover in place.
Goods in Transit Insurance protects cargo against risks such as theft, loss or damage, and makes it possible for businesses to recover the cost of the items that you are transporting while on the road.
The cover also safeguards your Transport, Logistics or Warehousing business against delivery delays or items delivered to the wrong address. Consequentially, if the intended recipient tries to recover the cost incurred by them, your business could claim for these costs under its Goods in Transit policy.