Heavy Vehicle Transport Insurance

Goods in Transit (Carriers)

Goods in transit (carriers) insurance provides the carrier with the ability to have commercial settlements made to their customers for loss or damage to their goods or livestock from an insured event at the carrier’s request, irrespective of their liability. If the carrier chooses not to accept the customer’s claim, the policy remains in force, with agreed legal costs covered, should the carrier elect at a later time to accept the claim.

This cover is available to all carriers - there is no requirement for the carrier to issue consignment notes or operate under other contracts of carriage.

This policy offers two levels of cover:

  • comprehensive – against loss or damage to goods from accident or deliberate act of a third party or death of livestock from accident, natural causes or humane slaughter 
  • defined events – against loss or damage to goods or death of livestock from major transit perils including fire, flood, collision, overturning, impact.

Defined events cover can be optionally extended to cover: 

  • theft, pilferage, non-delivery
  • accidental loss or damage during loading or unloading
  • deterioration of refrigerated goods from breakdown or mismanagement of refrigerating machinery.

Features and benefits

  • removal and disposal of damaged goods/livestock (including clean up of accident site), salvage, on forwarding, mustering/agistment of livestock up to the set sublimit
  • goods falling from or coming unsecured from vehicle (comprehensive cover only)
  • insured’s own equipment up to the set sub-limit (defined events only)
  • irretrievable wandering off of livestock. 

Marine Terms of Trade Definitions

Latest News

Illegal or unsuitable cladding now a big issue

Why we have laws, regulations and Australian standards? Because some people just do the wrong thing all for the sake of making money. The cladding issue is the subject of 4 Corners program on the ABC.

We are already seeing Insurance policies now placing exclusion endorsements into their policies excluding and claims relating to illegal cladding. We are seeing Governments demanding Audits of all existing buildings above a certain height. There are accusations of Builders taking other short cuts such as on Wiring, Pipes and sprinkler systems. 

The question is, who is to blame? Who will take responsibility?

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Small business in NSW

Right after the NSW Government have reimposed Fire Service Levies, they have at least made an effort for small business. The government has announced it will abolish stamp duty on a number of policies taken out by a small business. This is an important change.

What is a small business? In order to gain the exemptions, the business must be a small business for Capital Gains Tax Purposes for the income year in which the insurance is effected or renewed. A small business for CGT purposes is: “an individual, partnership, company or trust that is carrying on a business, and has an aggregated turnover of less than $2 million.”

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