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GOODS IN TRANSIT INSURANCE |
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BASIC COVER |
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They are two types of coverage granted by the Goods in Transit policy, namely:
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Inland Transit (All Risk) Cover |
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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
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Lorry Clause |
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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.
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AND it can be covered for:
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Single Transit - Marine Cargo Policy |
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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
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Annual Cover - Goods In Transit Policy |
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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.
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ELIGIBLE PROPOSER |
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Goods/ cargoes being conveyed entirely on land whether by lorry, train or other
mode of land conveyance licensed to carrying goods.
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PREMIUM & EXTENSIONS |
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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.
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At an additional premium, this policy can be extended to cover loading and unloading
from a stationery vehicle under close supervision.
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| PRODUCT DISCLOSURE SHEETS |
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here to view Product Disclosure Sheets (PDS). |
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HOW TO BUY |
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