Heavy Vehicle Transport Insurance

Goods in Transit

Goods in transit is either an annual cover where premium is based on the value of goods in transit, at the insured’s risk, during the policy period. Or it can be a single transit cover. It is the simplest and most convenient way to cover the insured’s inland transit risks.

Features and benefits

  • choice of cover between all risks of loss/damage to goods or death of livestock and major nominated transit perils
  • wide transit cover – from when goods are first moved for transit until last moved at destination
  • debris removal up to the designated sub-limit
  • delayed unpacking – discovery of transit damage up to 90 days after delivery
  • no disposal or sale of branded goods without insured’s consent
  • cover for goods to and from packers’ premises and for up to one month while goods are held there
  • companies acquired included under policy.

Conventional and Specialised Cargo

For our clients moving cargo in and out of Australia, worldwide to worldwide, or domestically we can obtain cover for:

  • combined cargo (import/export and within Australia)
  • annual import/export, and 
  • single transit covers.

Some insurers provide specific wordings for a particular type of risk or commodity. Specialised cargo can include:

  • fruit and vegetables
  • bulk commodities
  • livestock, and 
  • cargo loss of profits. 

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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