The ONE Marine Goods in Transit Policy is aimed at the transporter who moves goods on behalf of another party (Third party goods not belonging to the transporter).
Key Benefits
- Limits based on a First Loss Limit Basis – no average applied
- Debris removal/recovery of load costs
- Loss or damage to general shipping and reefer containers
- Loss or damage to tarpaulins, ropes and chains
- Goods transported on the policyholder’s own trucks as well as subcontractor trucks
- Maximum load limits are based on a single conveyance (unspecified) and not on a per truck basis
- Premium is rated in accordance with the estimated annual haulage fees (revenue generated from each load) and is required to be declared at quote stage
- Policy premium is adjusted upwards on the actual annual haulage fees on renewal against what was initially estimated
- Extends to cross border countries
- Cover based on Institute Clauses and depends on the type of commodity and how the goods are being transported
- Cover for Tail End Risks (goods collected from ports/airports and second-hand goods)
Additional Covers
- ONE Marine Carriers Legal Liability:
- Not the primary party policy as it insures the transporter’s legal liability arising out of actual and physical loss of or damage to the Goods in Transit and includes cost of claims expenses for minimising, investigating and defending the claim up to the limit of liability noted on the policy
- ONE Marine Contingent Insurance:
- Applies to transport brokers who do not have their own fleet of trucks and who utilise other transporters/subcontractors to transport the goods
- A transporter can also take out this type of contingent cover for their subcontractors