Well now, it’s not every day that we get the chance to tuck into a question like this, and more’s the pity! It’s quite an interesting and necessary type of insurance. Especially if you’re in the business of transporting vehicles chock-a-block with precious cargo and need to protect yourself against the cost of something going wrong while on the road.
So, let’s get into it and do our bit to explain what goods in transit insurance is and how the king has your back if you need insurance for cargo being delivered by road, rail, post or air.
Here’s what we’ll cover:
- What goods in transit insurance is
- How to amp up your cover
- A few of the usual exclusions
What goods in transit insurance is
Goods in transit insurance is a boring name, but it generally means what you probably suspect… It insures goods and property (that is, cargo) while they are being transported by road, rail, post or air. So, you’re covered if this cargo is lost or damaged as a result of some unexpected event, like a fire or a collision that causes everything to spill out onto the road.
Some policies even give you the option to include cover for the cost of dealing with the aftermath of these kinds of incidents, like when you need to clean up the road after a nasty spill.
We understand that transport damage and theft happen all too often, whether the goods are in your own vehicle, being transported by your business fleet or by professional carriers. So, if your delivery van full of precious cargo hits a pothole, you have our comprehensive cover with a no-holes policy to fall back on. Plus, the added benefit of royal service to help you deal with this incident.
Here’s what the king’s goods in transit covers:
- All risks: You’re covered for the loss of, or damage to, goods in transit that belong to you or that you’re responsible for, that’s caused by an accident or any incident not excluded, that occurs inside South African borders.
- Fire, explosion, collision, derailment and overturning only.
- Fire, explosion, collision, derailment, theft and hi-jack only.
How to amp up your cover
Wait, what’s that? You want to know if we can do anything about that pesky (and enormously expensive) business of debris removal? We can help you there, too!
Just by paying a little more, you get a whole lot more. Here’s the low down on the optional cover we offer:
- Debris removal and fire extinguishing charges.
- Deterioration of stock following a variation in temperature.
- Deterioration of stock following mechanical or electrical breakdown.
- Driver fidelity, for if your driver or employee is involved in crime relating to an incident involving your goods in transit.
- Extended territories, for if you want cover outside of South Africa.
- Overloading allowance, for if you’ve overloaded your vehicle by up to 5% over the legal allowance.
- Riot and strike.
A few of the usual exclusions
As per usual when it comes to insurance, there are a few things that aren’t covered. And we like to be super clear about these things. For instance, we don’t cover claims caused by things like goods that aren’t properly secured or covered with canvas while in transit. We also don’t cover theft from an unattended vehicle.
It’s not a crazy list of exclusions, but it’s made up of the kinds of losses or damage that make sense not to cover and we invite you to take a closer look right here.
Want to get a quote for the king’s simple smart insurance for goods in transit? Just click here and we’ll get cracking!