Goods in transit insurance
What is a goods in transit insurance?
Whether it is a transport accident, robbery, theft, fire, wrong delivery, physical damage, late delivery, piracy, customs seizure, strike, terror or war: the transport of goods involves numerous risks. In the event of loss or damage, the problems pile up. But first and foremost, the question that arises is: who will compensate for any loss or damage incurred?
Even if the goods are shipped by a logistics service provider, a considerable residual risk remains for the party interested in the goods. This is mainly attributable to the fact that not all risks are covered by the legal liability of logistics service providers. For example, in case of an unavoidable event, the logistics service provider is not held liable. Their liability is also subject to certain limits in terms of amount. The party interested in the goods thus protects his/her economic risk by effecting a goods in transit insurance policy.
WHAT ARE TYPICAL CLAIMS?
- Loss or damage of goods
- Defective or wrong delivery
- Theft / robbery
- Delayed delivery and other financial losses
- War / strike