Policy Summary
This policy provides cover for loss or damage to various types of goods whilst in transit by road, rail or any inland waterway within the geographical area set out in the policy. Cover may be All Risks or for specified perils and may be taken for specific consignments or annually. The specified perils include fire, theft, collision, overturning.
Client profile
This policy is suitable for:
- Business men or companies that transport their own stocks/ merchandise.
- Haulage/Transport companies involved in hiring out transport services.
- Individual transporters providing own vehicle for hire to transport goods.
- Traders in merchandise for own merchandise and wares
- Logistics companies involved in transportation of goods, packages or parcels.
In order to place a goods in Transit insurance Policy, the client will need to provide the following details:-
- Full Name of the client /proposer for insurance, Postal Address, Telephone Contact, PIN Number, Occupation (Business from which client derives his income)
- Total transit turnover for one year i.e. value of cumulative goods transported in one year
- Maximum value of goods carried in any one consignment (in one vehicle or several vehicles travelling in a convoy)
- Type of conveyance used e.g. Road, Railway, inland waterway etc.
