Goods In Transit Insurance

Goods-In-Transit Insurance

This policy provides coverage against loss or damage to goods while they are being transported. The policy covers any damage or loss caused by an insured peril while the goods are being loaded onto, carried by, or unloaded from an insured vehicle within the specified geographical area. The insured peril could be accidental damage, theft, fire, or other risks that are explicitly stated in the policy.

The policy may cover goods being transported by various modes of transportation, including trucks, ships, trains, and airplanes. Coverage may also include temporary storage during transit, such as at a warehouse or cargo terminal.

The policy may be purchased by the owner of the goods or the carrier responsible for transporting the goods. The coverage amount and the premium may vary depending on factors such as the value and nature of the goods being transported, the mode of transportation, the distance traveled, and the level of risk involved.

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