Property in transit insurance covers items against theft, loss, or damage while being transported by vehicle from one location to another in the course of business. examples include moving furniture and couriers or carriers working for online retailers.
Property in transit coverage can be purchased separately from courier or commercial auto insurance. those policies cover the vehicle itself, while git insurance covers only the contents: the goods being transported. Some van or courier insurance policies include an element of goods in transit coverage, but only up to a certain value. As the name suggests, git insurance only covers goods while they are in transit, not while they are in the vehicle in the warehouse.
Is transit insurance a legal requirement?
git insurance is not required by law, but it is actually recommended that any company that offers courier services, moving services or delivery of purchased goods consider it. It is also suitable for auto trade or vehicle salvage business. git lock may also be required when moving business equipment between multiple business facilities, perhaps while moving facilities.
what does the goods in transit insurance cover?
If materials, goods or cargo are lost, stolen or damaged in transit, claiming goods in transit coverage may allow you to recover the cost. Freight, courier, and freight companies are also subject to delays, usually when items are mislabeled, delivered to the wrong address, or signed for by the wrong person. if a delivery cannot be made at the specified time, git insurance may allow them to claim the cost back to the company, when the recipient tries to recover the costs incurred, for example. Goods in transit insurance may also include items left in the vehicle overnight, as long as the vehicle is locked and parked in a secure location. always refer to the policy for more information.
Different policies offer different levels of coverage, so it is important to tell the insurer or broker about the type and frequency of cargo being transported, and be realistic about its value.
goods in transit insurance claim procedure
Contact the broker or insurer as soon as possible to claim a goods in transit policy. Documentation likely to be required includes:
- complete claim form
- police report (if applicable)
- supplier invoice or other proof that the goods were purchased
- packing list, delivery note, or other proof that the goods were in the vehicle at the time of the incident
- repair or replacement invoice, as evidence of the value of the goods
- you have more than one van
- your typical payload per vehicle would cost over £25,000 to replace in the event of loss or damage
- Your conditions of carriage require a higher level of cover than your courier van insurance can provide (the road transport association requires standard cover of £1,300 per tonne of freight)
tell us everything
It is recommended that you inform the gallagher team of any of your contracted carriage conditions. only then can we ensure that you have the appropriate level of goods in transit insurance coverage. this can range from coverage of the full value of the goods you are transporting to an allocated amount per tonne of items.
call or click for a quick quote
Call us on 01625 854922 from 8:30 a.m. to 5:00 p.m. m. to 6:30 p.m. m. Monday through Friday, 9 a.m. to 5 p.m. m. to 1 p.m. m. on Saturdays or get a quote.
Do you have any questions?
Please note that this FAQ does not replace the wording of the policy
Why do I need transit insurance?
because so many top customers insist on it and because the cost of replacing lost or damaged goods could easily be detrimental to your business.
Is combined courier van insurance and goods in transit insurance enough?
It may be, but here are three reasons why it may not provide enough coverage: