Goods in Transit Insurance
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Goods in Transit Insurance
If your business transports goods, tools, stock or materials, Goods in Transit Insurance can help protect them while they’re being moved from one location to another.
Whether you’re a courier delivering parcels, a haulage company transporting freight, a tradesperson carrying tools or a retailer delivering your own products, unexpected events such as theft, accidental damage or vehicle collisions can result in costly losses.
At 1st Choice Insurance, we help businesses arrange Goods in Transit Insurance that reflects the way they operate. With access to a panel of over 80 UK insurers, we can help you explore insurance options for a wide range of businesses, from owner-drivers to larger transport and logistics companies.
Depending on your requirements, cover can be arranged for goods belonging to your customers or for goods owned by your own business, helping provide financial protection while items are being transported.
Get a Goods in Transit Insurance Quote
Whether you operate one vehicle or manage a fleet, our experienced advisers can help you arrange Goods in Transit Insurance that suits your business.
Call 03301 081611 or complete our online quote form below.
What is Goods in Transit Insurance?
Goods in Transit Insurance, often referred to as GIT Insurance, is designed to help protect goods while they are being transported by road.
Unlike commercial vehicle insurance, which covers the vehicle itself, Goods in Transit Insurance focuses on the items being carried.
Depending on the policy selected, cover may help protect against loss, theft or accidental damage to goods while they are being collected, transported or delivered.
This type of insurance is commonly arranged by businesses that transport customer goods, retail stock, tools, equipment or building materials as part of their day-to-day operations.
Who Needs Goods in Transit Insurance?
Goods in Transit Insurance may be suitable for a wide range of businesses that regularly transport goods.
This includes:
- Courier drivers
- Multi-drop delivery drivers
- Parcel delivery companies
- Haulage businesses
- Freight operators
- Furniture removal companies
- Retailers delivering their own stock
- Builders
- Electricians
- Plumbers
- Landscapers
- Property maintenance businesses
- Motor traders
- Vehicle recovery operators
- Manufacturers delivering products
- Wholesalers
- Distribution companies
If your business carries goods in a van, pickup, HGV or other commercial vehicle, Goods in Transit Insurance may be worth considering.
What Does Goods in Transit Insurance Cover?
The cover available depends on the insurer and the policy you choose, but Goods in Transit Insurance can often include protection for a variety of situations that may occur while goods are being transported.
Theft of Goods
If goods are stolen from your vehicle during transit, your policy may provide cover, subject to the terms and conditions of the insurance.
Some insurers may require vehicles to be securely locked or parked in approved locations, particularly if goods are left unattended.
Accidental Damage
Goods can sometimes be damaged during transport following a road traffic accident or another insured incident.
Goods in Transit Insurance may help cover the value of damaged items where cover applies.
Loading and Unloading
Accidents don’t only happen while driving.
Some policies may include cover for accidental damage that occurs while goods are being loaded onto or unloaded from your vehicle.
Fire
If goods are damaged or destroyed following a fire involving the insured vehicle, your policy may provide protection depending on the cover selected.
Loss of Goods
Some policies may provide cover where goods are lost while in your custody during transportation.
The extent of cover varies between insurers, so it’s important to check your policy wording carefully.
Carriage of Own Goods Insurance
Not every business transports customer goods.
Many tradespeople, contractors and retailers transport their own stock, equipment or materials between sites.
Carriage of Own Goods Insurance is designed for businesses carrying items they own rather than goods belonging to customers.
This can include:
- Building materials
- Electrical equipment
- Plumbing supplies
- Retail stock
- Machinery
- Business equipment
- Tools
- Spare parts
If you’re unsure whether you need Goods in Transit Insurance or Carriage of Own Goods Insurance, our advisers can discuss your business and help explain the available options.
Benefits of Goods in Transit Insurance
Goods in Transit Insurance can help protect businesses that transport goods as part of their day-to-day operations. Whether you’re delivering customer orders, moving stock between locations or transporting tools and materials, having suitable insurance in place can help reduce the financial impact of unexpected events.
Help Protect Goods While They’re Being Transported
Goods can be exposed to a range of risks while on the road, including theft, accidental damage and vehicle collisions. Goods in Transit Insurance can help protect the items you’re carrying, subject to the terms and conditions of your policy.
Reduce the Financial Impact of Unexpected Losses
Replacing lost, stolen or damaged goods can be expensive, particularly if you’re transporting high-value items or large quantities of stock.
Having Goods in Transit Insurance may help your business recover from insured losses without bearing the full replacement cost.
Meet Customer and Contract Requirements
Many businesses, courier networks and commercial contracts require evidence of Goods in Transit Insurance before work begins.
Having suitable cover in place can help you meet these requirements and demonstrate that your business takes the safe transportation of goods seriously.
Support Business Continuity
Unexpected incidents can delay deliveries and disrupt your day-to-day operations.
Insurance can help minimise the financial impact of an insured event, allowing your business to continue operating while any claims are being resolved.
Cover That Reflects Your Business
Every business transports different types of goods.
Whether you carry parcels, furniture, building materials, retail stock or your own equipment, policies can often be arranged around the type of goods you transport and the way your business operates.
Suitable for a Wide Range of Industries
Goods in Transit Insurance is commonly arranged by businesses across many different sectors, including:
- Couriers
- Hauliers
- Retailers
- Removal companies
- Tradespeople
- Manufacturers
- Wholesalers
- Logistics companies
- Distribution businesses
This flexibility makes it suitable for businesses of all sizes, from sole traders to larger fleets.
Frequently Asked Questions
What is Goods in Transit Insurance?
Goods in Transit Insurance (often referred to as GIT Insurance) helps protect goods while they’re being transported by road. Depending on the policy selected, cover may apply if goods are lost, stolen or accidentally damaged while in transit.
Who needs Goods in Transit Insurance?
Goods in Transit Insurance may be suitable for any business that transports goods as part of its day-to-day activities.
This includes:
- Courier businesses
- Hauliers
- Delivery drivers
- Removal companies
- Retailers delivering their own stock
- Builders and tradespeople
- Manufacturers
- Wholesalers
- Distribution businesses
Is Goods in Transit Insurance a legal requirement?
Goods in Transit Insurance is not a legal requirement in the UK.
However, without appropriate insurance, your business could be responsible for the cost of replacing goods that are lost, stolen or damaged while in your care. Some contracts and customers may also require you to have this cover before carrying out work.
What does Goods in Transit Insurance cover?
The level of cover depends on the insurer and policy selected.
Policies may provide cover for:
- Theft of goods
- Accidental damage
- Fire
- Vehicle collisions
- Damage during loading or unloading
- Loss of goods while in transit
Policy terms, conditions and exclusions apply.
Does Goods in Transit Insurance cover the vehicle?
Goods in Transit Insurance is designed to protect the goods being transported, not the vehicle itself.
To protect your van, HGV or other commercial vehicle, you’ll need an appropriate commercial vehicle insurance policy.
What’s the difference between Goods in Transit Insurance and Courier Insurance?
Goods in Transit Insurance protects the goods you’re transporting.
Courier Insurance typically provides insurance for the vehicle being used for courier work and may include other covers such as public liability or employers’ liability, depending on the policy selected.
Many courier businesses arrange both types of insurance to help protect their vehicles and the goods they transport.
Does Goods in Transit Insurance cover my own goods?
It can, depending on the policy selected.
Businesses transporting their own stock, tools, equipment or materials may require Carriage of Own Goods Insurance, while businesses transporting customer goods generally require Goods in Transit Insurance.
If you’re unsure which cover is suitable, our advisers can explain the available options.
Can tradespeople get Goods in Transit Insurance?
Many tradespeople arrange Goods in Transit or Carriage of Own Goods Insurance to help protect tools, equipment and building materials while they’re being transported between jobs.
How much Goods in Transit Insurance do I need?
The amount of cover you require will usually depend on the maximum value of goods you transport at any one time.
When arranging a policy, it’s important to provide accurate information about the type of goods you carry and their value so appropriate cover can be considered.
What affects the cost of Goods in Transit Insurance?
Several factors can influence the cost of a policy, including:
- The type of goods being transported
- The value of the goods
- The number of vehicles
- Where you operate
- Your claims history
- The level of cover selected
- Any additional cover options
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