About This Policy
A Specific Transit Policy protects goods in a single shipment from damage, theft, or loss during transport. It's best for businesses with occasional shipping needs.
What's Covered
The policy covers accidental loss or damage to goods during the insured transit due to events like collision, overturning, fire, or natural calamities. If opted with wider clauses (A), it includes theft, pilferage, and handling risks as well. The cover begins from the time goods leave the warehouse until delivery at the destination, unless stated otherwise.
Key Features
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Key Features
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Covers a single consignment by road, rail, air, or sea, Choice of Inland Transit Clause (A/B/C) or Institute Cargo Clauses (A/B/C), Ideal for infrequent shippers, Optional: warehouse-to-warehouse, loading/unloading risks, Theft and pilferage included in broader clauses (e.g., ICC-A/ITC-A), Terrorism risks typically excluded, but war/strikes can be added
Who Should Buy?
Traders or manufacturers with ad-hoc shipments, One-time exporters/importers, Businesses relocating machinery or stock between plants