At One Insurance Solution, we can protect the goods in transit for any type of business. This means we can help couriers, small businesses, or specialist hauliers. We can protect the goods you carry for other people. Or if you transport your own goods and equipment we can cover this too. Our customers trust us to make sure the insurance policy they get is right for them.
Goods in transit insurance (often known as GiT Insurance) is insurance to protect goods that you carry. It is particularly important when people carry things in their vehicles that are important to their business. This can be either goods that you carry yourself like tools or retail supplies, or if you carry goods on someone else’s behalf like a courier.
As the name suggests, Goods in Transit insurance covers items being transported by vehicles from theft, loss or damage for business purposes, such as goods ordered online to be delivered by couriers. However, a Goods in Transit insurance policy will only cover these goods while they are in transit, not before they have left the depot or after they have been delivered.
Crucially, Goods in Transit insurance is a dedicated, separate insurance type from standard commercial vehicle or courier insurances. Whereas these insurances typically only cover the vehicles themselves, Goods in Transit insurance will cover the items being delivered within them. This will often be up to a higher value too than an additional goods clause that may be present for some van or courier insurance policies, so it is recommended for those dealing with large and/or frequent delivery payloads.
There are two ways of insuring goods in transit in the UK. Firstly, there is “All Risks” cover, where you declare the total amount of cover you need. This means your goods would be covered up to this amount of money for any peril, (based on your specific policy terms).
The second way is through RHA conditions (Road Haulage Association), where members of the RHA can insure their vehicle per tonnage basis. This is governed by the RHA Conditions of Carriage 2009 Act and this can only be taken out by their members.
If you are a courier or haulier carrying goods in any EU states, this is a UK legal requirement. If you carry goods within the EU, CMR cover is an international requirement that runs alongside your normal goods in transit insurance policy.
Under the CMR convention (Convention on the Contract for the International Carriage of Goods by Road), the Goods you carry will be automatically covered for the same value as it would in the nation of origin. When travelling abroad this automatically takes into account any exchange rates market changes to the value of the goods.
The cost to insurance for transporting goods in transit will vary on a few factors:
• Whether the goods are you own or not.
• If you are going to be travelling outside of the UK and R.O.I.
• The type of goods that you are going to be transporting
• The vehicle that you are driving
• What you do as an occupation
• The security measures and telematics of your vehicle
Making sure you use a trusted insurance broker to arrange your Goods in Transit policy is a great way of getting the best value policy you can.
Our Van Insurance can keep you and your van on the road no matter what life has in store. Our great features and optional extras can keep you safe and protected.
To protect yourself against hurting the public or damaging their property, you need Public Liability Insurance. This is an important cover for all businesses that deal with the public.
Car insurance for a car that’s used for business purposes as well as social, domestic and pleasure. If you use your car for your work, this could be right for you.
If you have multiple vehicles, it might be better value to insure in a single fleet policy. This could save you time and money with one policy, and one renewal.
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