Sometimes called ‘GIT’, the policy also protects goods in a vehicle or while they are being loaded or unloaded.
If you carry goods by road for your business or someone else – like a courier – here are some points to consider when buying goods in transit insurance:
What does goods in transit insurance cover?
Any business that carries goods in a van or car whether the goods belong to the business or a customer. So, a grocer or hotelier picking up supplies from a cash or carry or a delivery firm dropping off packages to customers are all included.
What can a business claim for?
- Any goods in the vehicle damaged by fire
- Accidental damage to goods on or in a specified vehicle
- Loss or theft of goods from a specified vehicle
Cover applies in transit or during loading
Won’t my vehicle insurance provide the same cover?
No. Standard car or van policies do not cover goods in transit, so if anything happens, you stand to foot the bill from your own pocket.
What level of cover is available for goods in transit?
Most insurers will match the level of cover to your business requirements so you can buy as much or as little cover as you need.
Can goods in transit cover more than one vehicle?
Yes – policies can cover any number of vehicles in a fleet.
What about overnight cover for goods?
Most policies cover goods left in a vehicle overnight in a locked garage or compound with a secure perimeter and locked gates.
Are all goods automatically included?
Exceptions vary between insurers, but some hazardous loads may need special cover. If your business carries non standard loads, check the policy exclusion list to make sure you are covered.
The best way to buy goods in transit insurance is to speak to a specialist broker who can tailor a policy to your specific business needs.