Goods in Transit Insurance

If the consignment doesn’t arrive in one piece, where would your compensation come from? Insure it.

The basic cover provides an indemnity against loss or damage to goods whilst in transit anywhere within Nigeria as a result of an accident, theft, collision, overturning or fire to the conveying vehicle(s).

The goods covered comprise raw materials and finished goods associated with an organization's business. The policy covers moveable goods while in transit.

There are two types of policies that could be issued:

  • All Risk Cover: covers loss or damage by any accident or misfortune whilst the insured property is in transit as described in the schedule or whilst in course of loading and unloading into or unloading from a conveyance or whilst temporarily housed in the ordinary course of transit;
  • Restricted Cover: covers loss or damage from named perils like fire, accidental collision, impact, overturning of the conveying vehicle or theft following accidental collision or overturning of the vehicle.

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Goods in Transit Insurance