Well, it’s not every day that we have the opportunity to delve into a question like this, and more is a shame! It’s quite an interesting and necessary type of insurance. Especially when your business involves transporting vehicles full of valuable cargo and you need to protect yourself from the costs if something goes wrong along the way.
So let’s get down to it and do our part to explain what cargo insurance is and how the king has your back when you need insurance for cargo delivered by road, rail, mail or air.
Here’s what we’ll cover:
- What is transport insurance
- How to strengthen your cover
- A few of the usual exclusions
What is transport insurance
Cargo insurance is a boring name, but it generally means what you probably assume… It insures goods and property (ie cargo) while they are in transit by road, rail, mail or air. So you’re covered if that cargo is lost or damaged due to an unexpected event, such as: B. a fire or a collision where everything spills onto the road.
Some policies even give you the option to cover the costs of dealing with the aftermath of these types of incidents, e.g. B. if you need to clean up the street after a bad accident.
We understand that damage in transit and theft are all too common, whether the goods are in your own vehicle, transported by your commercial fleet, or transported by professional carriers. So if your van full of valuable cargo hits a pothole, you can rely on our comprehensive protection with a no-holes policy. Plus the added benefit of royal service to help you deal with this incident.
The following includes the king’s goods in transit:
- All Risks: You are covered for loss of or damage to cargo belonging to you or for which you are responsible caused by an accident or non-excluded incident occurring within the borders of South Africa.
- Fire, explosion, collision, derailment and overturning only.
- Fire, explosion, collision, derailment, theft and kidnapping only.
How to strengthen your cover
wait what is this Wondering if there’s anything we can do about the tedious (and hugely expensive) business of debris removal? We can help you there too!
If you pay just a little more, you get a lot more. Here is the overview of the optional coverage we offer:
- Clearing and Fire Extinguishing Fees.
- Deterioration of stock after temperature changes.
- Deterioration of inventory after mechanical or electrical failure.
- Driver loyalty when your driver or employee is involved in a criminal offense related to an incident involving your goods during transit.
- Extended areas if you want coverage outside of South Africa.
- Overloading surcharge if you have overloaded your vehicle by up to 5% more than the statutory surcharge.
- riot and strike.
A few of the usual exclusions
As usual when it comes to insurance, there are a few things that are not covered. And we like to be very clear on these things. For example, we don’t cover claims caused by things like goods not being properly secured or covered with tarps during transport. We also do not cover theft from an unattended vehicle.
It’s not a crazy list of exclusions, but it does set out the types of loss or damage that it makes sense not to cover, and we invite you to take a closer look right here.
Would you like to get a quote for the king’s simple smart insurance for goods in transit? Just click here and we’ll get started!