There are many types of motor insurance specifically tailored to businesses, but the majority of them will protect your vehicle or third parties, but not the contents you are transporting. Should you be involved in an accident and your goods or equipment are damaged, you could face financial loss and damage to your reputation. A goods in transit policy can offer additional protection for the contents of your vehicle whilst travelling.

How do I know if I need a Goods in Transit policy?

Depending on what type of goods you transport, you will fall into one of two categories

Haulage cover – if you transport items for third parties (i.e. As a courier) then you will need goods in transit insurance tailored to your sector and risks.

A goods in transit policy is especially important for haulage firms, as you are handling your customer's goods. Should anything happen whilst the items are in transit, you could end up losing out financially, and you could face permanently losing a customer – in fact, many of your customers will expect you to have some type of cover to protect their property.

Carriage cover – If you are using a business vehicle as your primary transport to and from work, as well as for transporting business-related goods, then you will need a policy tailored to carriage.

So what is a Goods in Transit policy?

A goods in transit policy insures any goods carried in your vehicle as part of your trading activities. This can include any supplies you are transporting (i.e. Building materials), as well as courier cargo. Should one of your drivers be involved in a crash or should one your vehicles get broken into whilst in transit, you won’t be faced with the financial cost of replacing your items and compensating your customers.