“When things go bad, Sasria makes good”. That is Sasria’s axiom when it comes to insurance cover for goods in transit.
Since the introduction of Covid-19 restrictions, the transfer of goods using different modes of transport has increased dramatically, which in turn has also caught the attention of criminals who are targeting goods in transit. Notably, the recent unrest in the country saw a number of trucks and other carriers with goods in transit becoming targets of criminals, who burned and looted freely.
This is where Sasria’s Goods-in-Transit insurance cover comes in; by giving peace of mind to businesses whose operations are dependent on the transfer of goods and materials.
What is Sasria’s Goods-in-Transit cover?
This is a form of non-life insurance for businesses, designed to protect both the buyer and the seller while stock is on the move, or in transit from the seller to buyer. Whether goods are moved by trucks or other modes of transport, they can be exposed to special risks. Businesses can cover the potential financial disaster of loss, theft or damage to the goods while they are being moved.
How the cover works
Sasria’s Goods-in-Transit insurance covers goods used as part of the stated business activity while they are being transported within South Africa. Cover includes raw materials, goods being manufactured or traded, ropes, chains, tarpaulins, containers and packaging material in connection with the transit.
Goods-in-Transit cover is issued under Sasria’s Material Damage Cover section. This specific cover relates to inland transit, marine cargo and stock; all of which are limited to South African transit risks or temporarily in Namibia for a period not exceeding 60 consecutive days. The cover also applies to marine hulls, ocean vessels and inland water vessels, and small crafts including sports crafts (rubber ducks, canoes, speed boats and rowing boats).
For businesses whose core dependency for operation is transport, it is advisable that they reach out to their insurance companies or brokers to ensure that they get the best cover, which applies specifically to the protection of goods in transit.
For more information on Sasria’s Goods-in-Transit cover, visit www.sasria.co.za or contact your insurance company or broker for the best cover.
Sasria is an authorised FSP registered under license number 39117. Ts and Cs apply.