What is goods in transit insurance?
Goods in transit insurance provides financial protection against loss, theft or damage to goods on the move. Whether you’re a courier delivering items to customers, or you’re moving your own business stock or equipment from one place to another, your policy can be tailored to your specific circumstances.
The key point to be aware of is that goods in transit insurance will only cover your cargo while it’s being moved from one place to another. Your goods will no longer be protected once they are in storage or have arrived at their location. For this, you’ll need business contents cover.
What is goods in transit with public liability insurance?
Public liability insurance is frequently packaged alongside goods in transit insurance in one policy or available as an optional add-on. For example, courier insurance will often include both options.
It’s useful because the transportation of goods poses many risks to third parties and their property. For example, a pedestrian could trip over a box left on the pavement and break an arm, or a glass door could be shattered by an item as it’s carried into a building. In these instances, public liability insurance would cover any legal expenses or compensation costs.
If you employ someone to deliver or transport your goods, you are legally required to insure them under employers’ liability insurance, as employees won’t be covered by public liability insurance.