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Transit Insurance Online: protect goods in transit against loss and damage

See how transit insurance covers your goods while they are transported by road, rail, air, or sea against fire, theft, accidents, and natural calamities.

Premium starts at ₹1,500 per consignment Excluding taxes. Terms and conditions apply.

Goods in transit protected by transit insurance

Benefits

  • Covers goods against fire, theft, accidents, and natural calamities
  • Available for road, rail, air, and sea transit
  • Single transit and annual open cover options
  • Quick online purchase and digital claim settlement

What is Transit Insurance?

Transit Insurance, also known as Marine Cargo Insurance or Goods in Transit Insurance, is a policy that protects goods against loss or damage while they are being transported from one place to another. It covers all modes of transport — road, rail, air, and sea.

The policy covers risks such as fire, theft, burglary, accidents, natural calamities, and handling damage. It is essential for manufacturers, traders, exporters, importers, and logistics companies that regularly move goods.

Examples

Single transit policy: Covers one specific consignment from origin to destination. Ideal for occasional shipments or high-value one-time moves.

Annual open policy: Covers all shipments made during the policy year, up to a pre-agreed limit. Ideal for businesses with regular transit activity.

Specific voyage policy: Covers cargo on a specific voyage or flight, with clearly defined origin, destination, and route. Common for imports and exports.

How Transit Insurance works

  1. Declare the consignmentShare details of goods, value, route, and mode of transport.
  2. Choose the coverSelect single transit or annual open policy as per your needs.
  3. Pay the premiumPremium is based on cargo value, risk category, and route.
  4. Goods moveThe policy covers the goods while in transit.
  5. Report a lossNotify the insurer immediately if loss or damage occurs.
  6. Survey and assessmentThe insurer appoints a surveyor to assess the loss.
  7. SettlementThe claim is settled as per the survey report and policy terms.

Who should buy Transit Insurance?

Manufacturers, traders, exporters, importers, and logistics firms. Any business that transports goods regularly or occasionally should have transit insurance to protect against financial loss during transit.

Frequently Asked Questions

Transit Insurance protects goods against loss or damage while they are being transported by road, rail, air, or sea. It is important because goods are exposed to risks like fire, theft, accidents, and natural calamities during transit, and this insurance ensures financial protection against such losses.
While not legally mandatory for all businesses, transit insurance is often required by banks, financiers, and buyers in trade contracts. Exporters and importers frequently need it to comply with letters of credit and international trade terms.
Transit insurance covers a wide range of goods including raw materials, finished goods, machinery, electronics, textiles, chemicals, food products, and personal belongings. Hazardous or high-value goods may need special cover.
Transit insurance covers fire, lightning, explosion, theft, burglary, road accidents, rail derailment, air crashes, shipwrecks, natural calamities (flood, earthquake, storm), and handling damage during loading and unloading.
Yes, transit insurance covers road, rail, air, and sea transport. It can also cover multimodal transport involving more than one mode of carriage, subject to policy terms.

Frequently Asked Questions

Transit Insurance protects goods against loss or damage while they are being transported by road, rail, air, or sea. It is important because goods are exposed to risks like fire, theft, accidents, and natural calamities during transit, and this insurance ensures financial protection against such losses.
While not legally mandatory for all businesses, transit insurance is often required by banks, financiers, and buyers in trade contracts. Exporters and importers frequently need it to comply with letters of credit and international trade terms.
Transit insurance covers a wide range of goods including raw materials, finished goods, machinery, electronics, textiles, chemicals, food products, and personal belongings. Hazardous or high-value goods may need special cover.
Transit insurance covers fire, lightning, explosion, theft, burglary, road accidents, rail derailment, air crashes, shipwrecks, natural calamities (flood, earthquake, storm), and handling damage during loading and unloading.
Yes, transit insurance covers road, rail, air, and sea transport. It can also cover multimodal transport involving more than one mode of carriage, subject to policy terms.
A single transit policy covers one specific consignment, while an annual open policy covers all shipments made during the policy year up to a pre-agreed limit. An open policy is more convenient and cost-effective for regular shippers.
Yes, the premium paid for transit insurance is generally tax-deductible as a business expense under Section 37(1) of the Income Tax Act, provided the policy is taken for business purposes.
Standard transit insurance does not cover delay in delivery or consequential losses. However, some policies offer delay cover as an add-on. It is important to check the policy wording for specific coverage.
Yes, transit insurance typically covers loading and unloading of goods at the origin and destination, as part of the transit cover. However, the cover may be subject to specific terms and conditions.
Transit insurance and cargo insurance are often used interchangeably. In practice, transit insurance usually refers to inland transit by road, rail, or air, while cargo insurance is used for marine and international shipments. Both cover goods in transit.