Transit

Assets, whether they are sold, purchased or needed as manufacturing components, are moved within the RSA on a daily basis. Often, the value of the property transported is high and should be transferred to an insurance policy, via a Goods in Transit Section, as events like theft, hijack, fire, accidents can occur ay any time during the transit.

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Overview

Most commercial enterprises transit a significant volume of assets within South Africa, using various modes of conveyances. Courier companies are frequently employed to get these assets to their destination safely and on time. These assets should be insured under Goods in Transit policy at all times.

Goods in Transit policies should be covered on an “All Risks” basis. An all risks insurance policy essentially looks to cover loss or damage to specified property, subject to the listed policy exceptions.