Goods In Transit
This policy is effected to cover moveable property whilst in transit by land, vehicles, railway and/or inland water way. There are two types of policy that may be issued, such as;
- All Risks which indemnifies the insured for loss or damage by any accident or misfortune while the insured property is in transit, in the course of loading and/or unloading and temporarily housed in the ordinary course of transit subject to specific exclusions.
- Restricted which indemnifies the insured for loss or damage resulting from specific circumstances only such as Loss by Fire; Loss by accidental collision, impact or overturning of the conveying vehicles; and Loss by theft only following accidental collision or overturning of the carrying vehicle or conveyance.