If your business requires you to transport your goods, then you will want to make sure that those goods are protected through effective insurance cover. There are also products that provide cover to protects those sending goods as well as transporting them. Many insurers do not offer standalone goods in transit insurance but incorporate it into their combine products. Below we have explored standalone and combined products that can offer protection for goods in transit.
The table below gives a quick comparison of the top UK providers for goods in transit insurance.
| Company | Minimum cover | Maximum cover |
|---|---|---|
| RSA | Not stated | Not stated |
| Zurich | £2,500 | £15,000 |
| Allianz | £10,000 | Not stated |
| Ageas | Not stated | Not stated |
| NFU Mutual | Not stated | Not stated |
| Lloyds Banking Group | Not stated | Not stated |
| Chubb | Not stated | Not stated |
| Covéa | Not stated | £50,000 |
| NIG | £2,000 | £50,000 |
| Glemham Insurance | Not stated | £20 million |
| Ripe Insurance | Not stated | £500 |
* The facts and figures included here come from each company’s website and were accurate at the time of writing but may have since changed. Also, please keep in mind these may not be apples to apples comparisons as each provider offers different solutions. This guide should be used as a starting off point for more research on your part.
Below we profile each of the companies’ services and features in a bit more detail.
Note companies are ranked in no particular order and this no way indicates one solution is better than another.
Topics
1. RSA
Some of the features and benefits of RSA’s goods in transit insurance.
- Transit eSolutions insurance
- Covers property being damaged or lost in transit
- Suitable for a variety of trades
- For businesses that operate in the UK
- Covers materials, tools and equipment
- They can provide high limits
- Includes misdelivery
- Covers sole traders to large companies
- Most suited to tradesmen and SME businesses
- Also suitable for those businesses that use third party carriers
RSA is an insurance provider that offers a range of business insurance products that are designed as either standalone or combined insurance packages which are suitable for a wide range of businesses. Their insurance range includes a range of products designed for tradesmen and SMEs which includes Transit eSolutions.
RSA’s Transit eSolutions is an insurance product that caters for businesses that transport goods, tradesman that carry materials, tools and equipment, and sellers that use third parties. It is suitable for businesses that operate in the UK only whether they are sole traders or large companies. Their cover includes high limits, property damage, lost in transit and misdelivery.
2. Zurich
Some of the features and benefits of Zurich’s goods in transit insurance.
- Commercial combined insurance
- Shop insurance
- Both include goods in transit insurance
- Includes £2,500 as standard with limits up to £15,000
- Packaged insurance products
- Cover includes a variety of protection
- Designed for a wide range of shops and retailers
- Suited to manufacturing, wholesale and offices
- Caters for businesses with multiple locations
- Available for businesses that have a turnover up to £5 million
Zurich offers a variety of combined business insurance products designed for a range of business professions or trades. Their products are designed to provide comprehensive cover that meets all of your business’ needs. They don’t sell goods in transit as standalone insurance, but it is included in their commercial combined insurance and shop insurance.
Zurich’s shop insurance includes goods in transit cover of £2,500 as standard with limits up to £15,000 which is designed for a variety of shops and retailers. Their commercial combined insurance caters for businesses with a turnover up to £5 million and that are in manufacturing, wholesale, offices, warehousing, leisure, construction and technology.
3. Allianz
Some of the features and benefits of Allianz’s goods in transit insurance.
- Complete Retailer
- Includes goods in transit
- Standard cover level of £10,000
- Designed for independently owned retail businesses
- Combined cover
- Includes liability protection
- Contents and stock
- Business interruption
- Commercial legal expenses
- Available only from a broker
Allianz is an insurance provider that offers business insurance products to businesses in a variety of industries and sectors. They have divided their business insurance products into small businesses and larger organisations. Their tailored insurance products include Complete Retailer which covers goods in transit.
Allianz’s Complete Retailer insurance covers goods in transit as standard at £10,000 as one of their many coverages. It also covers a range of liability protection including products, public and employer’s liability, trade contents, money, deterioration of stock, business interruption and commercial legal expenses. You can also add buildings and loss of licence to enhance the cover further.
4. Ageas
Some of the features and benefits of Ageas’ goods in transit insurance.
- Shopkeeper Insurance
- Option to include goods in transit
- Caters for small independents to multi-chain businesses
- Property cover
- Public, product and employer’s liability
- Deterioration of stock
- Loss of licence
- Fidelity guarantee
- Legal expenses
- Only available through a broker
Ageas is an insurance provider that offers a range of combined business insurance products that are packaged as combined insurance which are for specific sectors or professionals as well as generic products. Their product range includes Shopkeeper insurance which includes goods in transit cover.
Ageas’ Shopkeeper Insurance is designed as cover that can be tailored to your needs by offering a variety of options that can be selected to make your own policy. They offer liability cover which includes public, product and employer’s liability, property, business interruption, goods in transit, deterioration of stock, loss of licence, fidelity guarantee and legal expenses.
5. NFU Mutual
Some of the features and benefits of NFU Mutual’s goods in transit insurance.
- Cover provided on some business insurance products
- Combined cover
- Flexible policies
- Includes your own goods or those that you are responsible for as part of your business
- Covers goods in vehicles or trailers operated by you
- Also includes goods in the custody of a road haulier or postal service
- Geographical limits of the UK, Republic of Ireland, Isle of Man and Channel Isles
- Suited to businesses from small enterprises to large nationals
- Available to businesses such as retailers, caterers, tradesmen, manufacturers and wholesalers
- Also covers property, money and liability
NFU Mutual is an insurance provider that is run for the benefit of its members. They offer a broad range of tailored business insurance products that are targeted towards industries such as manufacturers, wholesalers and retailers. Their business insurance products offer goods in transit cover as optional.
NFU Mutual’s business insurance is designed as combined cover that allows you the flexibility to add the cover that you require. Their goods in transit insurance covers your own goods or those that your business is responsible for that are carried in your vehicle or trailer. It also covers goods that you have despatch through a road haulier o postal service.
6. Lloyds Bank
Some of the features and benefits of Lloyds Bank’s goods in transit insurance.
- Shop Insurance
- Tailored cover
- Covers a variety of shops and retailers
- Includes goods in transit insurance
- Damage or loss of any contents or stock
- Covers goods carried in your own vehicle/s and being loaded into your shop
- Liability cover
- Buildings insurance
- Business interruption
- Provided in partnership with Arthur J Gallagher
Lloyds Bank is a financial provider that offers a variety of business insurance products in partnership with Arthur J Gallagher. Their range includes a selection of tailored combined cover designed for specific professions such as Shop Insurance that is for a wide variety of shops and retailers, and it includes goods in transit cover.
Lloyds Bank’s Shop Insurance covers damage or loss of any contents or stocks that are being either carried in your own vehicle/s or being loaded from a vehicle to your shop. Their tailored cover can also include buildings, contents, goods in transit, public liability, employer’s liability and business interruption.
7. Chubb
Some of the features and benefits of Chubb’s goods in transit insurance.
- Property Insurance
- Designed for medium to large businesses
- Combined cover
- Includes goods in transit
- Property damage
- Business interruption
- Money
- Machinery and computer breakdown
- Accidental damage
- Suited to a wide range of industries
Chubb is an insurance provider that offers a variety of business insurance products that have been tailored to meet the needs of specific industries and professions or as generic products. Their product range includes Property Insurance which includes goods in transit insurance.
Chubb’s Property Insurance offers competitive business insurance that helps you to protect your assets and reduce business disruption after damage caused by fire, accidental damage, natural catastrophe or other named perils. Their cover can be tailored to include property damage, money, goods in transit, business interruption, machinery or computer breakdown, accidental damage and terrorism. They cover medium to large businesses in a wide range of industries.
8. Covea
Some of the features and benefits of Covea’s goods in transit insurance.
- e-Trade Commercial Combined Insurance
- Flexible and tailored cover
- Includes goods in transit cover up to £50,000
- Covers property whilst in transit by road, rail, inland freight, sea or air
- Geographic coverage of Great Britain, Ireland, Isle of Man and Channel Islands
- Covers reloading, ropes and sheets
- Substitution of a vehicle and additional vehicles
- Clothing and personal effects
- Expenses
- Includes a range of other cover
Covea offers a variety of business insurance products through a network of brokers or direct through their e-trade portal to small business. They offer a range of tailored insurance packages which includes their e-Trade Commercial Combined Insurance that includes goods in transit cover amongst many other covers.
Covea’s e-Trade Commercial Combined Insurance includes goods in transit cover which can offer cover up to £50,000. They cover goods in transit in Great Britain, Ireland, Isle of Man and Channel Islands by road, rail, inland freight, sea or air between these places. Cover includes additional vehicles and vehicle substitution, clothing and personal effects, expenses, reloading, ropes and sheets, and travellers’ samples.
9. NIG
Some of the features and benefits of NIG’s goods in transit insurance.
- Business Package insurance
- Flexible cover
- Can include goods in transit cover
- Cover up to £50,000
- Vehicle load limits apply
- Offers standard and optional cover
- Contents and stock
- Deterioration of stock
- Equipment and computer breakdown
- Liability cover
NIG offers a range of business insurance that they sell as combined insurance packages that are tailored to meet the needs of specific trades and professions. This range includes Business Package insurance which offers goods in transit insurance as an optional extra.
NIG’s Business Package insurance offers £2,000 of goods in transit insurance which can be extended to £50,000, however, vehicle load limits do apply. The standard cover on this policy includes contents, stock, deterioration of stock, equipment and computer breakdown with a broad range of optional extras such as public, product and employer’s liability insurance, material damage, business interruption, money, specified all risks and legal expenses.
10. Glemham Insurance
Some of the features and benefits of Glenham Insurance’s goods in transit insurance.
- Business insurance
- Option to include goods in transit
- Flexible cover that can be tailored
- Select the cover you require
- Liability covers
- Business interruption
- Business all risks
- Commercial legal expenses
- Caters for a variety of industries
- Designed for businesses that manage risk
Glemham Insurance is an insurance provider that offers business insurance to those that are able to demonstrate that they understand and manage risk in their business. They offer business insurance as a package that allows you to select what you include such as goods in transit.
Glemham Insurance’s business insurance offers a flexible product which can include goods in transit as well as property damage, liability cover up to £10 million, business interruption, money and assault, business all risks, personal accident, computer, loss of licence and frozen foods. They cover large sums with risk levels up to £5 million for a single location and £20 million per policy.
11. Ripe Insurance
Some of the features and benefits of Ripe Insurance’s goods in transit insurance.
- Caterers insurance
- Option to include goods in transit
- Cover for £500
- Build your own cover
- Public and employer’s liability
- Accidental death cover
- Tools cover
- Plant and machinery
- Contract works
- Offers free cover with each policy
Ripe Insurance is an insurance provider that offers a variety of specialist business insurance products that are designed to meet the needs of each of these business types and professions. Their product range includes caterer’s insurance which has the option of including goods in transit insurance.
Ripe Insurance’s caterer’s insurance offers public liability insurance at £1, £2 or £5 million, employer’s liability of £10 million, free accidental death cover of £10,000 and a range of optional extras. These extras include goods in transit cover at £500 for damage whilst transporting, tools, plant and machinery, and contract works.