Goods in Transit

Protects you against financial loss or damage to your property in transit caused by an insured events, while your property is in transit by road vehicle owned or operated by you anywhere in Australia.

Did you know?

In the event of a claim, the value of goods lost or damaged will generally be taken as:

  1. For goods you have sold – your invoice value
  2. For goods you have purchased – the purchase price as shown on the invoice
  3. All other goods including plant transfers – market value

What’s typically covered?

  • Collision or overturning of the conveying vehicle
  • Fire, lightning, explosion, wind, water, flood, earthquake, impact, malicious damage and vandalism
  • Theft resulting from forcible and violent entry evidenced by visible damage to the securely locked portion of a vehicle and/or trailer or the building in which the conveying vehicle and/or trailer is being garaged
  • Theft of equipment securely attached to a vehicle by locks or other securing device, which is evidenced by damage to those locks or securing devices

What’s typically NOT covered?

Loss or damage as a result of:

  • Depreciation or deterioration
  • Money
  • Jewellery, watches, furs, antiques, paintings, works of art, precious metals, precious stones or articles composed of any of them
  • Explosives, petroleum products in bulk or gas in bulk
  • Livestock
  • Delay, loss of market or consequential loss of any kind
  • Collision or contact by the conveying vehicle with the kerb or uneven road surface
  • Cigarettes, tobacco, wines, spirits or other alcoholic beverages unless shown on your insurance certificate
  • Theft by or in collusion with any of your employees
  • Electrical or mechanical derangement unless damage is visible to the exterior of the machine

Things to consider

  1. Are you in the business of buying and selling items? If so, it’s likely that the items will need to be transported from one place to another.
  2. Is there considerable traffic or are there dangerous interchanges on roads used to transport the items you buy and sell?
  3. Do you have some degree of control over who is driving the vehicles used to transport the goods I buy and sell? Are they sufficiently skilled and experienced?