If you are in transport business, goods in transit insurance is the best one to take in Kenya. Below is a list of insurance companies with the best Goods in Transit cover:

Mayfair Insurance

This provides cover for the loss or damage to various types of goods while in transit by road, rail or any inland waterway. The Policy provides Indemnity against Accidental Loss or Damage to goods belonging to or for which the Insured is responsible whilst:

• Being loaded upon or unloaded from any Vehicle, Trailer or Wagon
• In Transit on any Motor Vehicle, Trailer or Wagon
• Temporarily housed in the course of transit

The cover can be arranged to give protection for goods carried either

• On specified vehicles or trailers owned by the proposer or
• On any vehicle or trailer owned by the proposer or
• Any specified vehicle hired or being used by the proposer or
• Whilst being transported by any road or rail transporters hired by the proposer

During transit, the policy covers the risk of loss or damage occasioned by

• Fire
• Lightning.
• Breakage of Bridges.
• Collision with or by the Carrying Vehicle.
• Over-turning of the Vehicle.
• Derailment or accidents of like nature to the wagon.

The cover commences when the goods are being loaded on to the transporting Vehicle and ceases once the goods are unloaded at the final destination.

In the event of the Vehicle or Wagon not completing the transit for any reason whatsoever, the policy extends to cover the property whilst being transferred to and conveyed by any on-carrying vehicle.

First Assurance

FEATURES

The cover can be arranged to give protection for goods carried either:

– On specified vehicles or trailers owned by the proposer or

– On any vehicle or trailer owned by the proposer or

– Any specified vehicle hired or being used by the proposer or

– Whilst being transported by any road or rail transporters hired by the proposer

During transit, this insurance policy covers the risk of loss or damage that may be occasioned by:

– Fire

– Burglary

– Overturning

– Collision

– Hijack

BENEFITS

This policy extends to cover expenses reasonably and necessarily incurred in respect of.

– Cost of debris removal during removal of property damaged, from the site where damage occurred

– Transferring property from the vehicle following an accident and reloading to another conveyance.

– Securing and protecting the property at the site of accident.

– Damage (excluding wear & tear) to tarpaulins, sheets, trailer curtains, ropes, chains, webbing straps and packaging materials following an accident, subject to a stated maximum limit of liability.

Kenya Orient Insurance

• The Goods in Transit Insurance covers specific goods carrried in against Risks of Loss and or damage while in transit from Point A to point of destination withing a specified geographical areas as specified in the policy.  This loss and or damage may arise from:-
• Collision
• Overturning
• Fire or Explosion
• Derailment
• Theft arising from the accident
• While loading/unloading
• Hijacking
• The Policy also protects the insured from liability during loading and unloading of the goods and temporary housing in the course of transit.
• The cover is available to individuals or companies transporting goods/in the business of transporting goods

CAUSES OF DAMAGES/LOSS COVERED

The Transit can be by:-

• Road
• Rail
• Any inland waterway

SUM INSURED

• The policy is limited to the Sum Insured declared in the schedule of the policy being:-
• Any One Loss
• Series of losses arising from the same event

EXCESS

• If an excess has been specified in the policy schedule, the insured must bear this amount first whenever there is a claim or series of claims resulting from an event insured against

EXCLUSIONS

• Wear, tear, ordinary leakage, ordinary loss in weight or volume or inherent vice of the goods
• Delay, loss of market or consequential loss of any description
• Medical, electrical or electronic breakdown or malfunction of goods where there is no external evidence that an even insured against has occurred
• The absence, shortage or withholding of labour of any description resulting from any strike, lockout, labout disturbance, riot or civil commotion
• Any process or use, trial, testing or repair
• War, warlike activities
• Anything nuclear or radioactive
• Terrorism

REQUIREMENTS

• A duly completed proposal form
• nsured’s ID/Registration and PIN

CLAIM PROCESS

• Report claim within 3 days or incident happening or within a reasonable time
• Document the claims by providing a duly completed claim form, police abstract, driver’s licence, records of the goods and evidence of approval to transport the goods
• Take all measures to protect/reduce loss to the goods in the event of an incident

Madison Group

• Cost of debris removal in the course of removal of property damaged, from the immediate area of the site where damage occurred.
• Transferring property from the vehicle following an accident and reloading to another.
• Securing and protecting the property at the site of accident.
• Damage (excluding wear and tear) to tarpaulins, sheets, trailer curtains, ropes, chains, webbing straps and packing materials following an accident.

Policy Exceptions

Loss, Destruction or Damage caused by:

• Wear and tear, depreciation, deterioration, inherent vice or defect, damp, vermin, insects, fungi, rust, oxidation and/or discoloration, except as a direct result of fire, theft or accident to the mode of transport.
• Atmospheric or climatic conditions or contamination except as a direct result of fire, theft or accident to the shipment.
• Defective or inadequate packing or insulation.
• Theft or attempted theft of goods transported in any open-top or open-sided vehicle.
• Theft or attempted theft of goods whilst the vehicle is left unattended unless the property is contained in a securely locked vehicle and the keys removed from the vehicle or the vehicle itself is stationed in a securely locked building and entry to the vehicle or building is done by forcible and violent entry to or exit.
• If any form of willful misconduct, theft, dishonesty, disappearance or unexplained inventory shortage is picked up.
• Delay, loss of market, indirect loss or subsequent loss of any kind.
• Breakdown of refrigeration equipment.
• Detention, confiscation, nationalization, requisition or willful destruction by any government, public, municipal, local or customs authorities.
• Pressure waves caused by aircraft and other aerial devices travelling at sonic and supersonic speeds.
• Loss of any liquid gas or goods from containers by leakage, spillage, evaporation or loss in weight or volume.
• The shipment and/or storage of explosives acids chemicals and gases and goods of dangerous nature.
• Any legal liability caused or contributed by ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
• Any loss or liability caused by acts of terrorism.
• Any loss or damage through war or invasion, abandonment or temporary dispossession resulting from confiscation, seizure, restraint, commandeering, nationalization, appropriation destruction or requisition by order of any government or popular rising, military rising, insurrection, rebellion.
• Loss or damage occurring outside the territorial limits stated in the schedule.
• The amount of excess applicable to the policy.

Types of goods not covered in this Policy:

• Deeds, bonds, bills of exchange, promissory notes, money or other negotiable currency, securities or stamps.
• Documents, manuscripts, business books, computer systems records, patterns, models, mold, plans or designs.
• Electrical or electronic equipment, cameras and photographic equipment.
• Bullion, jewelry, precious metals, precious stones, platinum, gold or silver articles, furs, watches, curios or works of art, tobacco, cigarettes, wines, spirits and the like.
• Travelers’ samples, tools, equipment, machinery, plant or any property entrusted to you as a carrier under a contract for transport or storage of such property.
• Glass and other articles of brittle nature except as a direct result of fire, theft or accident to the conveying vehicle.
• Livestock and/or living creatures.

Conditions

• Interpretation

It’s important to take note of everything stated in your schedule/policy once you’ve been insured as this will guide both you and your agent on what is and isn’t required.

• Full Disclosure

Remember to be completely open and honest about what you need insured. Anything that is misrepresented or omitted by the said proposal will be considered null and void and any benefits payable under the same will be forfeited.

• Reasonable Care

It’s important to ensure that the conditions surrounding the transportation of your goods are suitable. This includes, the people involved in the active transportation are well trained, the vehicle (s) is/are suitable for carriage and are in good working condition and during active transportation, your goods are well protected.

• Claims Co-operation

In an event of a claim, we’ll probably need to view the goods at the scene of the incident so it’s important to take note of this. You’ll also be required to present all the necessary documentation when doing so and provide all the assistance and co-operation we’d need in connection to the claim. In doing so, be sure to avoid exposing the goods to further damage.

• Contribution

If you have any other insurance policy that covers the same risk, we will not be liable to pay more than our proportion of the loss.

• Subrogation

You’re free, (at your own expense) to involve a lawyer to recover any property lost or its value against the party to blame. You shall give all reasonable assistance for that purpose.

• Under-insurance

If the damage or loss happens to be larger than what was already stated in your schedule, you’ll be required to share the proportionate loss accordingly.

• Fraudulent Claims

If you and your representatives makes a claim that’s dishonest, the claim shall not be payable.

• Communication

All notices and information must be put in writing.

• Alteration

If they’re things you’d wish to change in your policy, be sure to have it officially written to us to avoid any loss you might experience in the future.

• Transfer of Rights

Nothing contained in this Policy shall unless stated give rights against us to any person other than you and your representatives. Unless by death or operation of Law shall by endorsement declare the insurance to be continued.

• Cancellation

This Policy may be cancelled at any time at your request in which case, we’ll retain a premium calculated on pro rata basis for the time this Policy has been in force and provided no claim has arisen during the current period of Insurance. This Policy may also be cancelled by us with 14 day’s notice being given in writing to you. In this case we’ll be liable to return a proportionate part of the premium for the unexpired term of the Policy from the date of cancellation.

• Due Observance

Compliance, observance and fulfillment of the terms of this Policy by you is a condition precedent to any liability attached under this Policy.

• Disputes Between You and Us

If any issues arise with any matter in relation to this policy, we’d need to refer to a single mediator and arbitrator agreed between us within thirty 30 days of the dispute arising and the mediation process to be finalized not later than thirty 30 days. Any costs regarding this would be split equally.

• Premium Adjustment

Take note to keep an accurate record of the value of goods insured as you’ll be required to submit a declaration of the actual value transited for the expired Period of Insurance and the premium will be adjusted accordingly and the difference shall be paid by or allowed to the Insured as the case may be.

• Jurisdiction Clause

The indemnity provided by this Policy shall apply only in respect of judgments which are in the first instance delivered by or obtained from a court of competent jurisdiction within the Republic of Kenya.

What’s needed

• A Completed claim form
• A Consignment Note/Waybill number
• Discrepancy Note (Especially in partial loss cases)
• Amount of loss
• Description of loss
• Police Abstract Report (This is required for theft cases or where third parties are involved).

Jubilee Insurance

Our cover offers the best protection against loss, destruction, or damage to goods whilst they are in transit. From the time of leaving the insured premises to final delivery.

What we offer

• Our Goods in Transit insurance policy covers loss of or damage to the goods insured caused by and not excluding accident, theft, collision, fire or overturning whilst in transit by road.
• We provide coverage for individuals or companies transporting goods.
• We offer protection for heavy & light lorries, omnibuses and motor cars.

Key Benefits

Protection against loss, destruction or damage of goods

APA Insurance

Good In Transit (GIT)

Loss or damage to merchandise and goods incidental to the Insured’s business the property of the Insured or held by the Insured in trust or on commission and for which the Insured is responsible while being carried by any conveyance described in the schedule hereto anywhere in Kenya. The cover is to apply from the time the said merchandise and goods are lifted by the Insured’s employees until the said merchandise and goods are placed in position by them at their final destination, including loading and unloading.

Kenya Women Finance Trust

Goods in Transit Insurance

This policy provides cover for loss or damage to various types of goods while in transit by road, rail or any inland waterway within the geographical area set out in the policy.  Cover may be All Risks or for specified perils and may be taken for specific consignments or annually.

Who can take up Goods in Transit Insurance?

• Transport companies involved in hiring out transport vehicles.
• Individual transporters providing own vehicle for hire to transport goods.
• Logistics companies involved in transportation of Letters or packages.

Claim Documents: 

• A Duly filled Claim form.
• Police abstract report.
• Replacement invoice/ purchase receipt/ proforma invoice.
• Statement on the circumstance of the loss/Witness statement.

Marine Insurance

This policy provides cover for loss or damage to various types of goods while in transit by road, rail or any inland waterway within the geographical area set out in the policy.  Cover may be All Risks or for specified perils and may be taken for specific consignments or annually.

Who can take up Goods in Transit Insurance?

• Transport companies involved in hiring out transport vehicles.
• Individual transporters providing own vehicle for hire to transport goods.
• Logistics companies involved in transportation of Letters or packages.

Claim Documents: 

• A Duly filled Claim form.
• Police abstract report.
• Replacement invoice/ purchase receipt/ proforma invoice.
• Statement on the circumstance of the loss/Witness statement.

Equity Bank

Goods in Transit Insurance

This policy provides cover for the loss or damage of various types of goods whilst in transit by road, rail or any inland waterway within the geographical area set out in the policy. The cover may be ‘all-risk’ or for specified perils, and may be taken annually or for specific consignments.

How to get started

1. Go to the form availed below to sign up.
2. Fill in your details.
3. Submit the details. A representative from our team will give you a call.

• Features

Faulu Bank Kenya

What’s in it for you?

• This policy provides cover for loss or damage of goods while in transit by road, rail or any inland waterway within the geographical area set out in the policy
• This policy is ideal for transport companies, individual transporters and logistics companies involved in the transportation of letters or packages

How does it work?

The insured is required to periodically provide the insurer with:

• The general description of the goods covered
• The maximum value payable under the policy
• The value of any one consignment

What’s excluded on the cover?

Some types of loss are not insured. The main exclusions are loss or damage caused by:

• • Willful misconduct of the insured
  • Ordinary leakage, loss in weight, wear and tear of goods
  • Insufficient packing, inadequate storage in a container, inherent vice, or goods deterioration caused by delay
  • Insolvency or financial default of the owners, managers and so on, of the vessel
  • Loss or damage due to nuclear weapons/radiations
  • Loss due to unseaworthiness of the vessel
  • Consequential loss

Occidental Insurance

Policy Summary

Goods In-Transit Policy provides cover against loss, destruction or damage of goods whilst in transit from the time of leaving the premises to final delivery.
The policy also covers against liabilities that may arise while loading and unloading the goods.

GA Insurance

Goods in Transit Insurance Policy

Goods in Transit Insurance policy cover for loss of or damage to property belonging to the insured or for which the insured is responsible arising from any accident or other perils while in transit by any conveyance specified in the policy e.g. Road, Rail, air. This policy is essential for businesses that rely on the movement of goods to make a profit, such as manufacturers, distributors, and retailers.

Key Coverage Benefits

• Protection for your goods while in transit
• Cost of debris removal in the course of removal of property damaged, from the site where damage occurred. b) Transferring property from the vehicle following an accident and reloading to another conveyance
• Securing and protecting the property at the site of accident
• Coverage for damage or loss

Tausi Insurance

Cover against loss or damage to property associated with loading, actual transit and storage incidental to the transit.

This cover is restricted to goods being transported within the country or within the region as specified in the policy schedule.

Benefits

This policy provides indemnity against accidental loss or damage to goods belonging to the Insured or for which they are responsible (including ropes, tarpaulins and packing materials) whilst:

1. Being loaded upon or unloaded from any motor vehicle or trailer
2. In transit in any vehicle or trailer
3. Temporarily housed in the course of transit