Shifting by itself is a tedious process. On that note, one cannot afford to lose valuable belongings while being transported from one place to another. Transit Insurance is one of the moving insurance policies that insures all the items that are being transformed from one point to another. The insurance policy gives coverage to your deliverable right from they are loaded in the vehicles like truck, tempo, van, etc. until they are unloaded at the destination.
Therefore, it is compulsory to know and avail of Transit Insurance if you are planning for shifting. The article will vividly discuss the Transit Insurance policy, its types, why it is required, and how to apply for it, etc.
What does the insurance offer?
The insurance policy provides coverage during loading and unloading throughout the transformation process, including packing and unpacking, storage of goods during transportation, etc. Ordinarily, this insurance coverage is provided to goods that are transported over the land. The other branches of the insurance policy also cover goods transmitted via marine, air, and railways mode.
During shifting, if your deliverable are lost or caused damages due to different reasons like accident, natural calamities, theft, fire, etc., suitable insurance will be provided to the owners.
Who should apply for Transit Insurance cover?
If you are a custom house owners, regular manufacturer of goods, traders, transporters, or importers and exporters of goods, then choosing the Transit Insurance policy is a wise choice. Also, if you are someone who relies upon third-party packers and movers agents to export and import your customer’s products, then make sure those products are insured under the Transit Insurance policy. It is a trusted insurance policy that provided extended support for your household goods.
Things to look while availing Transit Insurance.
While taking the Transit Insurance, make sure it covers all the possible damages caused to your goods. It is common that you are not aware of all minor details that are covered under transit insurance. You can also take professional help from insurers who can explain and book the right insurance cover for you.
Types of Transit Insurances.
As the name suggests, the vehicle overnight cover is provided for the goods to be transported or stored in a truck or van overnight. While opting for this policy type, make sure the insurance also covers when the product is just stored in the vehicle.
Multiple vehicles – One policy.
At times, traders might gear up to transfer the deliverable in multiple vehicles. So, opting for a policy type that aids for a number of vehicles at a time is essential.
Transit Insurance for own vehicles.
This cover is provided for the goods that are shipped in their own vehicles of any type. The policy type is suitable for small entrepreneurs who are involved in trading business and farmers.
Specified Transit covers.
The specified transit covers will provide insurance for specified products such as glass items, paintings, electronic equipment, musical instruments, etc. The policy also offers an annual deal that merchants, schools, associations, sports groups, or any firm involved in the regular transformation of goods can be opted for.
If you are in the field of relocation, or relying on third-party movers and packers companies, or continuously packing and moving the household goods, it is essential to avail of Transit insurance or transportation insurance.