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| This policy covers loss or damage to your goods during the course of transit by land, sea or air. |
A. Introduction NON-MOTOR - GOODS IN TRANSIT (GIT) INSURANCE This class of insurance is intended to cover cargoes being conveyed entirely on land, whether by lorry, train or other mode of land conveyance licensed to carry goods. |
Introduction (介绍) The policy is intended to indemnify the insured against loss or damage to goods during transit anywhere within the territorial limits 该政策是为了保障被保险的在运输途中领土范围内的任何地方对货物灭失或损坏 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Scope of Cover The policy covers loss or damage to the property caused by Fire, Theft or Accidental means whilst in or on being loaded or unloaded from any road vehicle or passenger/goods train or whilst temporarily housed in the ordinary course of transit whether on or off the said conveyances within the Territorial Limits. |
B. Scope of Cover There are two types of cover granted, namely: i. Inland Transit (All Risks) Clause: Covers against all risks of loss or damage to the insured goods whilst in transit by road and / or rail caused by fire/lightning, theft, accidental or any unforeseen fortuitous circumstances unless specifically excluded in the policy ii. Lorry Clause: Covers against loss or damage to the insured goods whilst in transit by road and/or rail caused by fire/lightning, overturning, derailment, collision and other accident to the vehicle/ conveyance, such as involuntarily leaving the road, breakdown of bridges and consequent damage to the vehicle/ conveyance and the goods insured hereby. |
Scope of Cover The policy covers loss or damage to the property caused by Fire, Theft or Accidental means whilst in or on being loaded or unloaded from any road vehicle or passenger/goods train or whilst temporarily housed in the ordinary course of transit whether on or off the said conveyances within the Territorial Limits. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| This policy does not cover the following: Your wilful misconduct Ordinary leakage or loss in weight or volume, wear and tear Insufficient or unsuitable packing or preparation of your goods Inherent vice or nature of your goods Damage proximately caused by delay Insolvency of the ship owners or operators Unseaworthiness and unfitness of the ship War risks, terrorism Riot and strike Note: This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy. |
Exclusions i. Wear & tear depreciation, gradual deterioration, mildew, moth, vermin or atmospheric conditions i. Discolouration, Oxidation, Rusting, Scratching and Denting iii. Electrical and mechanical derangement iv. Damage arising from delay, confiscation or detention by Customs or other officials or authorities v. Deeds, bonds, bills of exchange, promissory notes, cheques, securities for money, medals, coins, stamps, manuscripts or other documents of value and livestock vi. Earthquake, volcanic eruption, war invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, strike, riot, civil com motion, military or usurped power or confiscation or destruction by order of any Government or Public Authority Note: The above is only a summary of the exclusions. For full details, please refer to the policy. |
Exclusions o Excess applicable unless caused by fire or collision, overturning or derailment o Delay or loss of market and consequential losses o Weather or atmospheric conditions o Defective packing, hooks or sling damage o War and SRCC o Contamination, Fermentation or spontaneous combustion o Confiscation by Government authority o Theft or pilferage by Insured's employee o Volcanic eruption, subterranean fire, earthquake | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| You may extend coverage to the following risks by paying additional premium: - War risks - Strike, Riot and Civil Commotion - Transhipment |
Extension Available You may extend coverage to the following risks by paying additional premium: - War risks - Strike, Riot and Civil Commotion - Transhipment |
Extension Available o Riot and Strike o Inland Transit (All Risks) Clause | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The premium you have to pay may vary depending on the sum insured, cover required, mode of transit, type and packing of cargo and our underwriting requirements: Example Gross premium for a non-hazardous and general type of cargo with sum insured RM106,500 shipped from USA to Malaysia Institute Cargo Clauses (A) cover RM266.25 Additional cover – War risks RM 23.96 The estimated gross premium which is including agent’s commission but excluding service tax and stamp duty is RM290.21. |
Rating - Indicative Only
Limit per conveyance/lorry X No of days in operations (225 days) X No. of Trips per Day = Estimated Annual Carryings |
Rating For manufactured products only (not excluded or referred items) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. Deductibles 1. Low Risk i. Hijacking & Armed Robbery - 10 % on Loss amount subject to minimum RM10,000.00 each & every loss ii. Others (Low Risk) - 2 % on Loss amount subject to minimum RM2,000.00 each & every loss 2. High Risk i. Hijacking & Armed Robbery - 20 % on Loss amount subject to minimum RM20,000.00 each & every loss ii. Others - 5 % on Loss amount subject to minimum RM5,000.00 each & every loss Note: *High Risk is commodities listed in the Refer & Decline Risks | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| E. Premium Adjustment upon Expiry of Policy The refund should not exceed 50% of the provisional premium. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information Required to Quote o The Client - vet moral qualities and business reputation o Nature of goods - its usage; susceptibility to what type of loss/damage; salvage possibility o Method of Packing o Sum Insured on goods per vehicle load o Territorial limit o Details of carrying vehicle. If transit by own vehicle, state Registration No. Type of make. Year of make, Carrying capacity; Type of security devices fitted If transit by Transporter's vehicle - submit condition of carriage o Past 3 year claim experience o Estimated Annual Turnover/Volume of Business |
Information Required to Quote o The Client - vet moral qualities and business reputation o Nature of goods - its usage; susceptibility to what type of loss/damage; salvage possibility o Method of Packing o Sum Insured on goods per vehicle load o Territorial limit o Details of carrying vehicle. If transit by own vehicle, state Registration No. Type of make. Year of make, Carrying capacity; Type of security devices fitted If transit by Transporter's vehicle - submit condition of carriage o Past 3 year claim experience o Estimated Annual Turnover/Volume of Business |
I. Minimum Information Required for a Quotation 1. Single Transit – Good in Transit Policy This policy insures ONE transit of goods from one place to another. The policy covers from the time the goods leave the consignor’s premises until they reach the consignee’s premises. Information required: i. Name of consignor/consignee ii. Correspondence address of consignor/ consignee iii. Type of commodity/description of goods and its susceptibility to damage iv. Type and nature of packing v. Duration of inland transit and destination vi. Vehicle age, range and registration no. vii. Ownership of vehicle (owned/hired vehicle) viii. If hired vehicle, name of transporter company and transporter company’s insurer ix. Maximum limit per carrying/Lorry load x. Years of Experience of Driver xi. Type of cover required xii. Period of cover required xiii. Sum Insured (Any one accident / Any one period) xiv. Claim/loss experience/accident over the last 3 years xv. The risk improvement and security being carried out by the insured xvi. Name of current Insurer, terms, rate and excess |
Information Required to Quote o The Client - vet moral qualities and business reputation o Nature of goods - its usage; susceptibility to what type of loss/damage; salvage possibility o Method of Packing o Sum Insured on goods per vehicle load o Territorial limit o Details of carrying vehicle. If transit by own vehicle, state Registration No. Type of make. Year of make, Carrying capacity; Type of security devices fitted If transit by Transporter's vehicle - submit condition of carriage o Past 3 year claim experience o Estimated Annual Turnover/Volume of Business | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Refer Risks i. Cement ii. Chemicals iii. Electrical goods such as Hi Fi, television and the like iv. Fertiliser v. Handphone, computer and accessories vi. Perishables (fruits, vegetables, meat and fish) vii. Scientific Instruments viii.Tobacco, Cigarettes, Cigars ix. Valuables such as cameras, watches x. Works of Art of Antiques and Pewters xi. Steel/metal products xii. Palm oil xiii.Freight Forwarders xiv.Consumables food and beverages |
Referred Risks o Livestock animals, birds and plants o Gold items, precious metals and stones, watches o Antiques/object of art o Valuable paper, monies, security paper/bond o High value products like:- o Cigarettes, Computer and chip, TV, Hi-fi equipments, hand phones and related items o Liquor, wines/spirits, Bird's nest, ginseng etc. o Commodities like Latex, plastic resins, metal products o Petroleum, diesel and liquefied goods o Heavy machinery/electronic plants o Mainframe computer system o Exotic vehicle o All erection and positioning risk o Loading, unloading and temporary storage o Used or second-hand items/machinery o Quotation Request from Transporter | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Decline Risks i. Container itself ii. Livestock iii. Consequential loss iv. Isolated storage risks unless incidental to Marine Risks v. Isolated storage risks unless incidental to transit risks vi. Liability risks vii. Rejection and Penalty risks viii. Stock through put insurance ix. Warehouse or storage risks outside the London Institute Cargo Clauses x. Explosives cargoes xi. Fragile and breakable goods such as chinaware, glassware, earthenware, marble statues xii. Furs xiii. Hijacking and/or Arm Robbery & Hold-up extension xiv. Jewellery, Gold and Silver articles, precious stones xv. Wines, spirits, liquor |
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| Claims i. Claim Form ii. Police Report iii. Shipping documents, e.g. packing list, delivery order, bill of lading, invoices, custom declaration, duty payment receipt iv. Carriage contract, where available v. Insured’s declaration of shipment if policy is an annual policy vi. Letter of Demand/Debit Note from the Owners of the damaged goods (if goods belonged to Third Party) vii. Any other documents as required by Adjuster/Insurer |
Claims Document Checklist (Non Motor Claim) GOOD IN TRANSIT 1. Police report lodged by driver / attendant 2. Delivery order / Receipt 3. Suppliers' invoices 4. Packing list 5. Repair / replacement list 6. Copy of the contract of agreement 7. Copy of Road-tax Disc, Registration card, IC, Driving Licence 8. Survey report or relevant doc to show extent of loss/damage 9. Claim form | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goods In Transit (货物运输保险)
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ING Start LivingSPA Condo Risk Allianz Auto Insurance Tailor Suite Your Financial Security Need |
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Marine Goods-In–Transit/Carrier Liability Policy - Case Studies (案例研究) Kes Rujukan - Any hypertext links to other web sites are provided for convenience only, and SIMON POON AGENCY assumes no responsibility or liability whatsoever for the contents of those other web sites linked to, or any products or services advertised or sold on those web sites. 
