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Goods In Transit Insurance
BASIC COVER

They are two types of coverage granted by the Goods in Transit policy, namely:
  • Inland Transit (All Risk) Cover
    Cover against loss or damage to the insured goods whilst in transit by road and/or rail caused by fire/lightning, theft, accidental or any unforeseen fortuitous circumstances unless specifically excluded in the policy, OR
  • Lorry Clause
    Covers against loss or damage to the insured goods whilst in transit by road and/or rail caused by fire/lightning, overturning, derailment, collision and other accident to the vehicle/conveyance, such as involuntarily leaving the road, breakdown of bridges and consequent damage to the vehicle / conveyance and the goods insured.
AND it can be covered for:

  • Single Transit - Marine Cargo Policy
    Insures transit of goods from one place to another in a single transit from the time the goods leave the consignor's premises until they reach the consignee's premises OR
  • Annual Cover - Goods In Transit Policy
    This is annual policy which provides cover for goods conveyed by land throughout the year as per the territorial limit and/or transit journey specified in the policy.
ELIGIBLE PROPOSER

Goods cargoes being conveyed entirely on land whether by lorry, train or other mode of land conveyance licensed to carrying goods.


PREMIUM & EXTENSIONS

Premium is calculated based on the type of cover, territorial limits or transit journey (within town or inter-states), and the sum insured i.e. the value of goods to be consigned.

At an additional premium, this policy can be extended to cover loading and unloading from a stationery vehicle under close supervision.
Date / Time
 
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