Goods in transit Insurance Policy Cover

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Time is money! Goods or stock are also money. When you lose goods on their way, you encounter a double loss of money and time to recover what is lost.

Any loss to your goods while in transit translates into a financial loss which can take so many forms like theft, damage due to accidental collision, loss of usage due to elements of weather, among others.

Therefore, Goods in transit insurance is a secure way of covering the risks arising due to loss or damage caused to goods or personal belongings whilst in transit. This could be on the road, rail or water.

Who needs Goods in transit insurance cover?

Commercial transporters, Haulier, Firms transferring their office premises, and yourself as you move with your belongings from one point to another.

Why is this insurance policy cover essential?

• The terms of coverage under transit insurance plans are universally accepted. As a result, even if you’re transporting your goods internationally, you’ll be able to meet the country’s coverage needs.
• Businesses that may face significant losses if their goods are destroyed during transit might get financial help from transit insurance. As a result, the policy aids in keeping the company’s finances stable even after a loss.
• Because the transit insurance coverage covers any potential loss, businesses can continue to operate profitably even if a contingency destroys their goods. This profitability also helps businesses maintain their solvency and their market value.
• The policy can be tailored to the needs of the company, making it ideal for a wide range of industries.

So, if your company is involved in the transportation of goods, purchase a transit insurance policy to protect yourself from potential damages if your items fail to arrive at their destination. The coverage is straightforward to purchase and has reasonable premium rates, making it a simple and important addition to your products’ transit.

With the uncertain climate in which we live today, setting aside some funds to cover you from the risk of the unknown will save you a lot in the long run. As the saying goes, “A stitch in time saves nine.”

With over 39 years of experience, Statewide Insurance Company Ltd has the expertise to ensure that all your insurance needs are met to your satisfaction. Contact us on mail or in the chat box to get a quotation or more information about this insurance policy.