Transit insurance and reasons for it

Do you want to be sure your items are protected from the loss or damage between the points of origin and final destination? Then, you should purchase transit insurance before transport your possessions to a new location. Contact your insurance company and ask about transportation insurance coverages. Usually, transit insurance covers goods in local or international carriage against the risks of loss or damage. Your shipment is covered on the road, rail, air, marine, river, and other types of transportation. Make sure to give your insurance company details about the type of transportation and shipment so you can get the best possible policy coverage. A-Z Claims Adjusters Florida are here to give you some tips when purchasing the right type of transportation insurance. Because we understand all possible complications related to insurance policies, be smart and follow our tips.

transit insurance
You should purchase transit insurance before transport your possessions to a new location.

What is transit insurance and why you need it?

Transit insurance is a policy that covers your personal items or business goods during transportation from one place to another. No matter you are moving your goods by land or sea, with right transit insurance your belongings are covered. With transportation insurance, you will have peace of mind. You don’t need to think about big finances loss. Sometimes goods get damaged or lost during the transit, or they can suffer different accidents, impact fires, theft, etc. So, instead of risking the total loss, purchase a transit insurance to cover your belongings.

Transit insurance usually uses people who regularly transport goods over large or small distances. Especially business owners, they don’t want to risk complications and total loss of their goods, so they are always protected with the right type of transit insurance. Transportation insurance covers different goods, from raw materials, manufactured goods, packaging material, to goods owned by someone else. 

How to purchase transit insurance?

Transit insurance coverage you can purchase as an owner or it can be purchased by the company you have hired to transport your goods. So, it is very important to check if your transporting company is well covered. Negotiate with your insurance company or check with your transportation company about the transit insurance policy and the limit of the coverage. You can purchase the transit coverage that also covers incidental storage and alternative accommodation expenses. So, your transit insurance can cover the damage, loss and mentioned extras. Your policy details will depend on the type of cargo, the cargo’s declared value, destination, time, and areas of transit.

people shaking hands after the purchase of transportation insurance
Close the deal for the transit insurance after you are completely sure that you have the best policy coverage

The reasons why you should get transportation insurance

There are many reasons why you should purchase transportation insurance. It will cover your items while moving them from one place to another. Your goods are protected from the loss, damage, and theft. You will need a transit insurance if you:

  • Transport goods you have been hired to move (if you are a transportation company or furniture removal firm)
  • Deliver items to customers (when you run an online shop)
  • Moving different equipment and contents – you want to be sure they are safe, sometimes it is not possible to avoid car accidents.

How much does it cost to purchase transit insurance coverage?

The price in your policy will depend on:

  • The type of business you run
  • How much cover you need
  • How many staff you employ
  • Your annual turnover

You can save money on the insurance if you pay your policy annually instead of monthly. Go online and compare different insurance options and prices. Many insurers offer discounts, so maybe you purchase a policy with a discount.

Man in the car
If you are transporting your personal possessions or business goods, no matter the type of goods make sure to purchase the transit insurance!

For business owners: Purchase a coverage that meets your needs

If you are transporting goods for commercial reasons, you need the best transit insurance coverage. It is important to purchase the type of policy that can meet your business needs and legal obligations. Always think about the value of goods that you carry. With a good insurance policy, you can rest safe in the knowledge that your goods might be stolen, damaged or lost.

If you use your own vehicle to transport goods, you will need a transportation insurance in case:

  • You transport your own good in your own van, car or truck. You can transport your personal items or your business-related
  • If you are using your van to transport well for other parties, such as a courier.

No matter you are operating as a courier or work in the haulage industry, the goods on your vehicle must be covered. Especially when you are transporting items that are not yours, the financial implications could be even more severe. So, protect yourself and your finances and purchase the transportation insurance! Also, when you are a business owner, your clients will expect a safe and efficient delivery of your items. If you don’t have the right insurance you are risking losing clients and job. To conclude, purchasing the transit insurance is also an investment in your reputation!