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Sunday, June 25, 2017

Goods In Transit

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INTRODUCTION

  • The basis of the contract is the proposal form.
  • Premiums must be paid upfront before commencement of cover.
  • Premiums form the basis or the consideration for indemnity.

We have two types

  • Goods in Transit (Road Risk) Insurance.
  • Goods in Transit (wider Risk) Insurance (widely accepted).

COVER

This is basically “All Risks” insurance. It covers goods in transit from any accidental loss, damage or destruction from any cause. The cover seeks to indemnify the insured against physical loss of and or damage to the subject matter insured caused by or as a result of fire, lighting, breakage of bridges, collision with or by the carrying vehicle, overturning of the carriage vehicle, derailment or accidents of any nature to the carrying railway wagon or vehicle subject to limited specific perils.

The goods are covered whilst being transported by road, railway or while being temporarily housed in the ordinary course of transit.

Terms and conditions apply.

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