Freight Insurance

What is goods in transit insurance, and is it something you could need?

Goods in transit insurance is vital for businesses, protecting against loss/damage during transport. KTL UK offers tailored coverage for the UK/EU.

Sarah Woodrow

September 22, 2023

It can be easy at times to imagine that the insurance industry is essentially about selling you protection that you just don’t need… right until the moment something happens for which you would have appreciated having protection. 

This is certainly something that can be the case with goods in transit insurance, too. As the name of this cover suggests, it is a type of insurance that covers goods against loss or damage while they are in the process of being moved from one location to another. 

Who could possibly require goods in transit insurance? 

An obvious example of someone who might have reason to be very appreciative of goods in transit insurance (also sometimes referred to as ‘GIT insurance’), is a person who runs an online store and makes goods available for delivery. 

If you sell products via your ecommerce shop and dispatch them to another location – perhaps elsewhere in the UK, or even the other side of Europe or the world – there are certain risks that those goods could be subject to, while on their way to the customer. An incident that occurs during that journey could cause the goods to be damaged, lost, or delayed. 

Let’s imagine that your chosen haulier is involved in a traffic accident, and the goods are destroyed or stolen. If you don’t have any goods in transit insurance in place, the need to refund the customer will leave your business out of pocket – and of course, the customer will at least be inconvenienced. They will almost certainly wonder why those goods in transit weren’t insured. 

And with freight forwarders and carriers normally having limited liability in situations where goods are lost, damaged, or delayed – this situation arising from internationally ratified conventions and the standard trading conditions of transport associations – you probably won’t be able to rely on being compensated by someone else… unless you have GIT insurance.

Allow KTL UK to take the stress out of your search for freight insurance 

If you have been searching for information on goods in transit insurance, and perhaps trying to compare insurance policies, you might have also come across references to the likes of “freight insurance”, “hauliers insurance”, and/or “hauliers liability insurance”. 

Although these terms can be – and frequently are – used interchangeably, they don’t necessarily all refer to exactly the same thing. Strictly speaking, freight insurance concerns freight that attracts freight charges, whereas the term “goods in transit” simply refers directly to the actual goods that are being transported. 

Regardless, if you are on the lookout right now for freight or goods in transit insurance that matches your specific needs, you might be interested to know that you can buy such cover directly from KTL. We can offer full insurance services for goods that are being moved into and out of the UK and the European Union (EU). 

Request a quote online from us today, making use of our straightforward form, and we can help give all parties involved with regard to your goods in transit – the sender, haulier, and recipient – the very best protection and the utmost peace of mind. 

More News...