Goods in Transit Insurance
Cover for goods, stock or merchandise while being transported by road, rail, air, or sea.
What is Goods in Transit Insurance?
Goods in Transit Insurance provides cover for goods, stock or merchandise while being transported by road, rail, air, or sea. It helps protect against loss or damage caused during transit, either locally or internationally.
Depending on the policy, Goods in Transit Insurance may include:
Loss or damage due to collision or overturning
Theft during loading, transit, or unloading
Fire or explosion
Water damage
Accidental handling damage
Coverage for owned vehicles or contracted carriers
Coverage, benefit limits and exclusions may vary. Always refer to the Product Disclosure Statement (PDS) or speak to your broker for detailed policy terms.
Understanding Goods in Transit Insurance
Goods in Transit Insurance is commonly held by businesses that transport goods between sites, deliver products to customers, or rely on third-party logistics services. It’s useful for manufacturers, wholesalers, importers, and retailers.
Costs vary depending on transport methods, value of goods, frequency of shipping, geographic routes, and packaging standards.
Notify your NQIB broker as soon as loss or damage is discovered. Provide shipping records, consignment notes, and photographs where applicable.
Goods in Transit Insurance is commonly paired with:
- Commercial Motor Insurance
- Business Package Insurance
- Public & Products Liability Insurance
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