Goods In Transit

Items Covered

This policy provides cover for goods and/or cargo (commodities, machinery, finished goods etc.) while in transit by road or rail.

Perils Covered

The cover provided is against loss or damage to property while in transit by road or rail.

The damage may be due accidents that lead to overturning, collision, derailment, fire or due to lightning damage to the conveying vehicle or during loading or unloading.

Basis of Valuation

CIF value or CIF value plus 10 to 15% (to take care of taxes/duties and expenses). This cost should be the value to be insured.

Claims Process

You will require the following to get your claim processed;

Documents you'll need
  1. Claim for dully filled and signed
  2. Invoice
  3. Claim spreadsheet/computation
  4. Survey report
  5. Delivery note
  6. IOV report
  7. Police report
  8. Driver's driving permit
  9. Contract between Insured & Transporter.

Glossary

CIF
Cost, Insurance and Freight