What is goods in transit insurance and why do you need it? If you're driving a vehicle for commercial reasons you could need more than a motor insurance policy. It's important that you've got cover that meets your business needs as well as your legal obligations, and one of the most important aspects to consider will be any goods that you carry.
What is goods in transit insurance?
Ασφάλιση μεταφοράς εμπορευμάτων είναι τα εμπορεύματα που μεταφέρονται στο όχημά σας ως μέρος των εμπορικών σας δραστηριοτήτων, καλύπτοντας τόσο τις δικές σας προμήθειες (π.χ. οικοδομικά υλικά) όσο και άλλους συνεργάτες (π.χ. πακέτα). Με την ασφάλιση εμπορευμάτων θα είστε ασφαλείς γνωρίζοντας ότι αν τα φορτία σας χαθούν, κλαπούν ή καταστραφούν με οποιονδήποτε τρόπο κατά τη μεταφορά. (υπόκειται στους όρους και τις προϋποθέσεις του συμβολαίου).
Why do you need goods in transit insurance?
If you use your vehicle for transporting goods, then you will usually fall into one of the below classes of use:
- • Carriage of own goods is using your van to and from work and are transporting business related goods such as your own tools.
- • Haulage is needed if you are using your van whilst transporting goods for other parties, such as a courier.
Goods in transit insurance coverage is particularly important if you operate as a courier or work in the haulage industry. The goods you're transporting won't be your own so the financial implications could be even more severe than normal.
Most clients will expect you to have some form of goods in transit protection in place, so it's important to invest for your reputation as well as anything else. If you're not adequately insured you may not be able to secure any work without some protection in place, you just need to consider the expense of the products you're carrying to see how vital this form of insurance can be.
Make sure your insurance policy covers what you need
If you have decided that goods in transit insurance is suitable for you then it's essential you get a policy that suits your precise needs. You should look for a quote that can be tailored to your individual business, and make sure to never cut corners on cover. It's better to be over insured than under insured. If you think that you'll be carrying goods that total thousands of pounds make sure you tell your insurer that. If you don't have the right amount of cover you'll be held liable for the cost of any damage to goods that don't fit within your insurance policy limit, so seeking an adequate level of cover to suit your business is essential.
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Our team is here to help you out with any questions you may have.
The GAP Vassilopoulos Group acts as Brokers through their well-established relationships with international ‘A’ Rated insurers’ as well as the local Cyprus market can cater for a wide range of insurance products.
Drop us an email through our website or feel free to contact us at 77 77 77 75 to compare and select the most appropriate insurance policy with our specialized G.A.P. Insurance Agency team, whom will respond promptly to your needs.