Transit insurance is important to secure goods in transit from one place to another. It caters to damages and loss caused to goods that are being carried by an individual on this private vehicle, or an employee or driver or third-party carriers.
Transit insurance or transportation insurance policy is a safe and secured way of covering the risk arising due to loss or damage caused to goods or personal belongings while in transit. The cost of the premium is decided based on the goods in transit insurance and the risk the policyholder is bearing during that policy term.
Transit Insurance in India also recompenses damages resulting due to derailment or overturning of the vessel. Transportation insurance also covers loss of goods due to the sinking of the vessel. Nowadays, you can easily buy transit insurance online.
Transit insurance policy offers coverage to all types of cargo against risks associated with fire, collision, lightning etc.
The insurer shall offer compensation under the following circumstances:
The various types of transit insurance policies that you can buy are listed below:
Following are the benefits of buying a transit insurance policy-
Transit/transportation policies can be issued to the following parties-