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Is The Goods You Transport For Your Business Properly Insured?

Updated: Aug 29, 2022




Who needs Goods in Transit insurance?

If you move goods as part of your business, you need Goods in Transit insurance: Which includes couriers, delivery drivers and removalists.


Your regular car or van insurance won't cover you for the damage or loss of goods you're carrying for your business. It would help if you had a separate policy to protect your or your client's interests.


Goods in Transit insurance covers you for the loss of or damage to goods while they're in your care, custody or control. The cover includes loading and unloading goods while being transported in your vehicle, a rented vehicle, rail or air.


If you use your vehicle for business purposes, ensure you have the right insurance.


  • Transport Contractors

  • Transport Broker Contingent Cover

  • Conventional Goods in Transit cover for Owner Goods

  • Once off, short period Risks

  • Basic Excess Reducer

  • Theft / Hijack Excess Reducer




How will Goods in Transit insurance protect my business?

Excerpt from goods in the transit policy wording from a leading insurance company.


Defined Events Loss of or damage to the whole or part of the property described in the schedule, owned by the insured or for which they are responsible, in the course of transit by means of conveyance or other means incidental thereto and caused by any accident or misfortune not otherwise excluded Provided that: (i) the insured shall be responsible for the first amount payable stated in the schedule in respect of each and every defined event except a claim resulting from fire, lightning or explosion (ii) the liability of the company for all loss or damage arising from any one defined event shall not exceed the limit of indemnity stated in the schedule.





How do goods in transit insurance work?

Transit shall be deemed to commence from the time of moving the property described in the schedule at the consignor's premises (including carrying to any conveyance and loading thereon), continue with transportation to the consignee (including temporary storage not exceeding 96 hours in the course of the journey) and end when off-loaded and delivered at any building or place of storage at the consignee's premises.

Suppose any consignee refuses to accept the property consigned.

In that case, transit shall be deemed to continue, and the insurance in respect of such property shall continue in force until the property is delivered at the premises of the consignor by any means of conveyance, provided that the insured shall take all reasonable steps to ensure that the property is returned as soon as is reasonably possible.

Where the means of conveyance is by specified vehicle, the insurance under this section shall apply to property on any vehicle temporarily used in place thereof while a specified vehicle is undergoing repair or servicing, which replacement vehicle is not the property of the insured or leased or hired by them under a lease or suspensive sale agreement.

In the event of breakdown of the means of conveyance during transit or if, for any reason beyond the insured's control, the property is endangered, nothing contained herein shall debar the utilisation of any other form of transport to assist completion of the transit and the insurance afforded shall not be affected thereby.


What is the available cover?

Insurers refer to cover as All Risk unless the cover is limited to fire collision and overturning of the vehicle.

We recommend all risk cover.




Can you get goods in transit insurance?

Insurance of goods needs to be applied for and is rated and accepted according to your industry.

If you transport high-value items like electronic goods, your rate will be higher than somebody hauling bricks.

Why do you need goods in transit insurance?

Protect your or your client's goods against loss or damage in transit.


Who provides the cover for goods transported?

An insurance company that is an authorised financial services provider in terms of the law

You can decide to apply directly for the insurance cover from an insurance company or use the services of a broker, agent or intermediary.





What is the benefit of using an advisor?

An advisor has access to different insurers and experience to help structure, apply and assist with the claims process.

If it were easy to deal with insurance companies, advisors would not have existed.


Your goods need the best protection, and there is a new player in the market for transport companies. Today is also a risk of the goods being looted, and the risk changes all the time.


What is the difference between goods in transit & marine insurance?

Goods in transit cover the insured locally within the territorial limits, which is good for SADEC.

Marine is for import export of goods.


How do I get a quote?

Follow the link to our contact page, scroll down to the bottom, fill in your detail and put goods in transit in the description box.

We will need your insurance and company details of claims history, and we will do a questionnaire to ensure we have all the correct information.





What is the difference between goods in transit & marine insurance?

Goods in transit cover the insured locally within the territorial limits, good for SADEC.

Marine is for import export of goods.



Albert Schuurman


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