Covers goods while they move — by road, rail, sea or air. Sold either per consignment or as an open cover you declare against monthly. Who insures the shipment depends on the Incoterm you agreed, and getting that wrong means two parties each assuming the other did it.

Premiums and claim-settlement ratios are illustrative until sourced from the insurer of record.

Read this before you buy.

• Inadequate or unsuitable packing — the most common transit decline
• Ordinary leakage, loss in weight and inherent deterioration
• Delay itself, even where delay caused the loss
• Undeclared consignments, and declarations made after dispatch
• Losses where a clean delivery receipt was signed

A transit claim runs against two parties at once: the insurer, and the carrier who damaged the goods. Miss the carrier notice window and the insurer can reduce your claim for prejudicing their recovery.

1. 01

   Note damage on the receipt

   · on delivery

   Before signing. A clean signed delivery receipt is near-fatal to a later claim, because you certified the goods arrived intact.

2. 02

   Notify the carrier in writing

   · within 7 days

   The carrier has statutory liability. Failing to preserve the insurer’s right of recovery against them can reduce your own claim.

3. 03

   Survey at destination

   · 3–10 days

   The insurer appoints a surveyor at the delivery point. Do not dispose of damaged goods or packaging before they attend.

4. 04

   Settlement, then recovery

   · 3–8 weeks

   You are paid on the invoice value plus freight, usually plus 10%. The insurer then pursues the carrier separately — that is their problem, not yours.