Goods in transit insurance
Cover for products, stock and materials
If your business involves transportation, you'll know all too well that the right package is all important, and time is of the essence. That's where we come in. With our goods in transit insurance you can customise the cover to your requirements, and get covered in a matter of minutes online.
So whether you're a courier, delivery driver or removal company our goods in transit cover is designed to protect your precious cargo.
- Enjoy 5-star customer service and claims support
- Cover goods transported in up to five vehicles in one policy
- Up to £50k of stock covered per vehicle
- Cover for deterioration of stock as an optional extra
- Add or remove covers and adjust your limits, with no extra fees
- Pay monthly or annually, it’s your choice
We'd love to cover everything, but there are some exclusions to our goods in transit insurance. Please always refer to your policy documents for full details around exclusions, terms and limits of your customised cover. Read our guide to understanding your policy documents.
What is goods in transit insurance?
Goods in transit is a type of insurance that provides protection if you or your customers' property or goods are lost, damaged or stolen while they’re being moved from one place to another.
It could become necessary to invest in goods in transit cover if you deal with items or products that are being transported from a factory or workshop to a retail outlet, a business premises or a private property.
This cover only protects the contents of the vehicle and only while they’re in transit - not before you depart or once they’ve been delivered.
What does goods in transit cover?
Typically, goods in transit insurance will provide cover for items that are:
- Stolen
- Lost
- Accidentaly damaged during transit
- Damaged during loading, unloading or in transit.
The nature of damage covered may include a range of eventualities, from things like weather damage or infestation, to accidental damage such as something being dropped during unloading or falling off the vehicle while in transit. It’s best to check your policy to be sure what's covered, especially if you’re carrying delicate or high value items.
Who is goods in transit cover for?
This kind of insurance cover can be particularly useful for courier services and removal services.
Goods in transit insurance may also be relevant for other businesses that regularly send or transport stock and materials, such as tradespeople, online retailers and shop owners.
What's the difference between goods in transit and courier insurance?
Goods in transit cover and courier insurance may be relevant to similar businesses, but what they protect against are quite different. A courier insurance policy will typically be made up of a number of different covers which protect against the risks a courier business faces.
Goods in transit on the other hand is a specific cover that is typically bought as add-on protection.
Why choose Superscript?
Build the cover you need
Choose the covers you need, leave the ones you don't. Add extra protection for deterioration of stock.
Insure your and team
Insure goods transported in up to five vehicles, all under one policy. Add cover for your employees too, if you need it.
Hassle-free claims
Our 5-star claims team are here to help, so you can get back to business as soon as possible if you need to make a claim.
Goods in transit claims examples
If your business transports goods, there may be several situations where you might need to make a claim. Here are a few examples of specific claims that would be covered by Superscript’s customisable policy:
Lost cargo
If you're transporting large amounts of goods or materials, and relying on lots of steps in the process, there's a chance things might go missing. If they do, goods in transit cover can cover the cost of the missing items.
A vehicle break-in
You're transporting goods overnight and stop at a service station. Even though you've locked your vehicle and secured the stock properly, your van is broken into and the stock is stolen.
A dropped item
Accidents happen. When you're trying to meet a deadline and loading up, items could get dropped or damaged. If that happens - and you can demonstrate it was an accident rather than negligence - your insurance could come to the rescue.
Important exclusions and limitations
Superscript's goods in transit insurance is able to cover a wide range of business activities, but there are some situations in which we won't be able to offer you insurance, including if:
- You are transporting items that we can't cover, such as dangerous goods, banned substances, controlled drugs, vehicles or livestock. The vehicle, or vehicles, you are transporting goods in is a road tanker or exceeds 7,500kg (gross vehicle weight)
- The theft of or damage to your items or stock occurs while stored at a rental.
- If the items you are transporting are confiscated or requisitioned, for example by customs or the police.
It's also important to remember that goods in transit insurance does not cover the vehicle itself. However, if your vehicle is damaged as a result of fire or accidental damage our insurance can cover the cost for hiring a replacement vehicle.
FAQs
Do I need business insurance?
For the most part UK law does not require you to have business insurance. One exception to this is employers' liability insurance which is a legal requirement for most businesses that have employees, whether full-time, part-time, or temporary. We offer this cover as part of our goods in transit insurance.
No matter your business, sometimes things happen that are completely out of your control and it might be beneficial to take our cover for your business.
How much does goods in transit insurance cost?
It varies, and the price depends on factors such as number of employees, level of cover and the level of turnover.
What level of cover do I need?
This depends on the risks you face. We can provide cover up to £50,000 of goods or products per vehicle.
Can you cover my fleet of vehicles?
We can cover goods transported in up to five vehicles as standard. If you need to insure a larger fleet, just let us know – we may be able to cover this too.
Can you insure goods left in a vehicle overnight?
We can cover goods stored in a vehicle overnight, but you'll need to make sure everything's secured properly. Check your policy documents for full details.
What excess will I pay?
Excess is the amount you will be required to pay towards the cost of a claim, should you need to make one. If you purchase goods in transit insurance with us online, the excesses are:
- Public liability: Couriers £250, Removal contractors £500
- Good in transit: £250
- Business equipment: £250
- Employers' liability: no excess
Will I be covered if I work abroad?
You may be covered if you work abroad. We cover goods in transit in the EU as standard for couriers.
If you are a removal contractor cover for jobs in the Europe can be added at an additional cost, and can cover jobs in Austria, Belgium, Denmark, France, Germany, Holland, Liechtenstein, Luxembourg, Norway, Portugal, Spain, Sweden and Switzerland.
Can I get other types of business insurance from Superscript?
Goods in transit insurance is often purchased as an add on as part of a more comprehensive policy. We provide a wide range of covers to over 1,000 business types, including:
- Public liability insurance
- Employers' liability insurance
- Product liability insurance
- Business contents insurance
- Professional indemnity insurance
- Business interruption insurance
- Directors' and Officers' insurance
- Cyber insurance
- Legal protection insurance
- Tools insurance
Let us know if you need other covers alongside your goods in transit insurance.
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Individual cover purchased online is offered on a standardised, non-advised basis and is not bespoke. Terms, conditions and coverage limits are predetermined by the Underwriter. If you require bespoke coverage offered on an advised basis, please contact our in-house broking team.
Authorised by the FCA
The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at www.fca.org.uk or by calling the FCA on 0845 606 1234.
A-rated financial strength
Our insurance products are underwritten by Standard & Poor’s A-rated financial strength or higher. This means the underwriter has been independently assessed by the world’s leading credit rating provider and found to have a strong capacity to meet financial commitments (pay claims).
Protected by the FSCS
If you are a business with an annual turnover under £1m, charity with an annual income under £1m, or trust with net assets under £1m, then you will be entitled to compensation from the FSCS in the unlikely event we cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.