Goods in Transit Insurance
Goods in Transit Insurance
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Goods in Transit Insurance (GIT) provides cover for damages or theft of goods that you are transporting for business purposes. As a leading broker, we compare a range of products to find the best policy for you.
If you drive a van and get paid to deliver personal goods, packages or general cargo, Goods in Transit Insurance is vital to protect you from any potentially costly claims. In the event that the goods you are carrying are damaged or stolen, you want to have the peace of mind to that you will be fully insured for the full amount. As the courier market continues to develop most Logistics companies are checking that every courier who works for them has an agreed amount of Goods in Transit cover so you should always check on the amount required to make sure you are abiding by your contract.
What is included in Goods in Transit Insurance?
A standard Goods in Transit policy will cater for a courier / haulier who carries general parcels, packages and pallets with a specific exclusion of hazardous goods; however, due to the nature of the logistics industry most insurers would look to tailor-make a Goods in Transit policy if anything which is excluded within the policy wording is needed.
Your policy will reimburse you for items that are damaged, lost or stolen in transit. Policyholders can request cover on numerous vehicles under one policy which offers the flexibility to protect themselves whilst their company grows.
What is not included in Goods in Transit Insurance?
General exclusions of a goods in transit policy are hazardous goods, animals, precious metals / stones & money in any format, but it’s important that you read your policy thoroughly as a standard courier goods in transit policy may exclude removals and other such activities. Make sure you speak to your broker and explain your company set-up in detail before taking any policy.
What is the cost of Goods in Transit Insurance?
The premium you pay will largely depend on the financial value of the goods you carry alongside your radius of operation, carrying conditions and claims history. As is always the case when purchasing insurance the least expensive option is not always the best option and it’s crucial that you get the right policy for your needs not simply the lowest price. An insurer may refuse to pay a claim if you are not insured on the correct basis.
Here at Milestone, our goods in transit polices start from just £92 and range from £5,000 – £50,000 worth of cover. Whether it is general parcels, packages, pallets or household removals, our schemes have been designed to cover the goods you carry against loss or damage whilst in transit at competitive rates.
At Milestone we offer:
- Cover for vans, trucks and cars
- Cover in the UK and Europe
- Discounts on multiple vehicles
- Discounts on courier insurance
- A dedicated support team
- Discounts for combined courier/ haulage, GIT & liability cover