TCIS offers a full range of transit insurance options, covers include:
All risk transit - clause A
Restricted transit - fire, collision, & overturning
Variations - theft, pilferage, & non delivery
Carriers legal liability
The main factors affecting the cost of transit cover are:
Gross Freight Earnings (GFE) declared.
This indicates the size of your operation and therefore the risk. Discounts apply to larger GFE figures. Your GFE is the income you derive before any expenses are deducted.
Sum Insured (limit any one load).
This determines the maximum exposure an insurer faces in any one incident. The higher the sum insured, the higher the premium.
Scope of Cover.
Covers range from a basic Fire Collision and Overturning through to Clause 'A' (All Risk), with many options in between.
Reliance on restricted transit covers leaves you open to a damages action arising from a loss not covered by the transit insurance (ie. a Fire, Collision and Overturning cover will not help if goods are contaminated or water damaged. If you elect to run with a restricted cover, you should also have a Carriers Legal Liability policy to fill the gaps.