This insurance covers goods in transit but is mainly dependent on the method of distribution employed by your company. This is either: -

• In your own or hired vehicles between various locations.
• On behalf of your customers or distributors, thereby ownership of such goods does not transfer to them until delivered to their premises and consequently liability until such delivery being that of your company.

It covers All Risks i.e. Loss or damage consequent upon accidental collision and/or overturning of the conveyance, fire explosion and/or theft, including loss or damage during the process of loading and unloading.

The terms of this insurance will be on a basis of declaration where:

• You advise the maximum amount that can be carried at any one time in any one conveyance which will form the maximum liability of insurance at any one time,
• The estimated annual carrying on which a deposit premium will be charged at inception and;
• Such deposit premium being adjusted at the end of the policy year upon declaration to be submitted by you, of the actual total value of goods in transit for the year.