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Goods in Transit insurance for hauliers and couriers provides cover for the goods that you carry on behalf of others. It protects couriers, haulage firms and other transportation companies from claims made for goods lost or damaged while in their vehicles. As a haulier you may be obliged to obtain appropriate Goods in Transit insurance as a contractual requirement set by your client (see also Goods in Transit – own goods)
A haulage company will have their own liability insurance in place in accordance with the requirements of their trade associations (RHA or FTA). This is provided on the basis of a flat level of cover per tonne of goods (typically £1,300) and does not take into account the individual value of items within the cargo. The cover works on the principle that the carrier may not know the nature of the goods carried or their financial value. In addition the RHA/FTA cover is only on a limited liability basis, so that certain risks (such as accidental fire) are not covered and the policy will not pay out if the carrier is not liable for the loss.
The owner of the items may ask for additional cover, either at a higher rate per tonne or wider cover, to insure against any incident that might affect their goods while in transit, particularly if the items have a value higher than that covered under the RHA or FTA cover.
As a haulier, an appropriate Goods in Transit policy can provide you with protection against any claims that result from the loss of damage of your clients’ goods while they are in your care.
As the owner of a valuable cargo, it is very important to make sure that the person carrying your items has a Goods in Transit policy in place on an All Risks basis that adequately covers the value of your goods.