The latest Covid restrictions and the impact of the travel delays on freight transport are raising a number of questions for the sector. We understand this is a challenging time for businesses and we’re keen to provide as much clarity as possible for those querying whether goods in transit cover will apply to any perishable items affected by the delays.
Goods in transit cover primarily provides cover for damage to goods from an insured peril – such as due to a vehicle accident, or loss or theft of the goods. Cover is available for stock deterioration, but this usually covers breakdown of refrigeration equipment as opposed to cover for delays in transit. In general, loss damage or expense caused by delay are a standard exclusion, but we would recommend that those affected review their policy wording and if unsure, speak with their insurance broker, or insurance provider.