Goods In Transit Insurance Tips

Ensuring goods are covered while they are being transported from your distribution point to the customer is an absolute imperative. Moving goods without it is like playing Russian roulette with your balance sheet and no good business should ever consider it.

The question is, however, how on earth do you shop for such specialist cover as Goods in Transit Insurance? Isis Insurance’s guide has been designed to give you a quick overview of what you should looking for, and asking about, when you are shopping around…

 Ask any specialist insurer worth talking to and they will tell you that there are four main areas that Goods in Transit Insurance should cover and they are:

• Theft
• Loss
• Damage
• Delays in delivery

All common sense so far but it is surprising how many people don’t check that their insurance covers each of these things – and that can be an expensive mistake to make.

The next thing to ask about and agree on is the value of the goods being transported. If they are new you can go by the RRP (and your insurance should cover this in its entirety). If they are used or antique this process can be more difficult, however, any good insurance broker like Isis will offer either an ‘new for old’ option, where the compensation would cover the cost of replacing the item as new, or ‘indemnity cover’, which takes into account depreciation. This cover will obviously create a slightly lower premium.

As with other types of insurance, Goods in Transit Insurance will also give you the option of building in things like legal cost cover, storage cover and food spoilage cover.  Again ask one of the Isis Insurance experts for their view on these things before committing as they will raise your premium.

For impartial advice on your Goods in Transit Insurance talk to one of Isis Insurance’s experts now on 01625 539656 or request a quote online.

This entry was posted on Tuesday, April 14th, 2009 at 3:24 pm and is filed under Goods in Transit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.