Transit Insurance

Transit Insurance

If your business involves transporting goods from A to B, Transit Insurance is an important part of your business, as it protects property against loss or damage while the goods are in transit from one place to another. Transit insurance is designed to protect you and your business against loss.

This is a comprehensive policy covering all physical risks which a project is exposed to right from the warehouse of the supplier of equipments - whether imported or indigenous - to its erection, testing and commissioning at the site.

In case the supplier has arranged transit insurance upto the site, a Storage cum erection policy can be issued limiting coverage to risks that the project is exposed to at the site only.

In case the policy period exceeds 12 months, the premium can be paid in quarterly installments with the first installment being more by 5% and the last installment being paid 6 months before expiry of the policy.

For project value exceeding Rs.1500crs, specially designed policies are available.

• This policy covers goods,freight and other interests against loss or damage to goods whilst being transported by rail,road,sea and/or air.
• Different policies are available depending on the type of coverage required ranging from an ALL RISK cover to a restricted FIRE RISK ONLY cover.
• This policy is freely assignable and is basically an agreed value policy.