Goods in Transit Insurance

Goods in transit insurance covers your stock, equipment, or materials for loss or damage while they are being transported between locations by road, rail, sea, or air.

If your business moves anything of value from one place to another, this cover fills the gap that standard property insurance often doesn’t.

Why It Matters

• Standard business insurance usually only covers goods at your premises, not while they’re on the road.
• Accidents, theft, and weather events can damage or destroy goods during transport.
• If you’re responsible for someone else’s goods while you carry them, you could be liable for the loss.
• For businesses that deliver, install, or move stock regularly, this cover is essential.

What It Typically Covers

• Damage from vehicle accidents, rollovers, or collisions during transport.
• Theft of goods from a locked vehicle or during transit.
• Weather damage such as water ingress or storm events.
• Loading and unloading accidents at pickup or delivery points.

Who Needs It

• Couriers and delivery services.
• Tradies who carry tools and materials to job sites.
• Retailers and wholesalers who ship stock.
• Removalists and logistics businesses.
• Any business that transports equipment or goods as part of their operations.

Simple Examples

• A courier’s van is involved in an accident and the parcels inside are damaged. Goods in transit insurance covers the cost of the damaged items.
• A plumber’s van is broken into overnight and $8,000 worth of tools and fittings are stolen. Transit cover can respond if the goods were in transit between jobs.
• A furniture retailer’s delivery truck is caught in a hailstorm and the stock inside is water damaged. The transit policy covers the replacement cost.

Common Mistakes or Misunderstandings

• Assuming your vehicle insurance covers the cargo. Motor insurance covers the vehicle, not what’s inside it.
• Thinking your business property policy covers goods on the road. Most property policies stop at your premises.
• Not declaring the full value of goods you carry. If you understate the value, you could be left short on a claim.
• Forgetting about subcontractors. If a subcontractor transports your goods and something goes wrong, who is covered?

When to Speak to a Broker

If your business regularly transports goods, tools, or equipment, or if you use third-party carriers, a broker can check whether your current insurance covers transit risks and fill any gaps.

Need help?

If you move goods as part of your business and want to make sure they’re covered on the road, reach out to Tank Insurance and we’ll find the right fit.

Related Terms

• Insurance Premium - Your transit premium is based on the value of goods you carry and how they’re transported.
• Excess - Transit policies have an excess that applies when you make a claim for damaged or stolen goods.