GOODS IN TRANSIT policies cover goods that are being transported. The goods may be owned or leased by the insured and may be goods of others that are being transported by the insured. The goods may be owned by the insured and being transported by a hired firm. The goods may be sold items that the insured is having transported to the purchaser. In all cases coverage can be purchased to protect the goods through a number of inland marine carriers. The coverage may be called motor truck cargo or transportation insurance but the policies should be similar. Key comparisons are causes of loss covered, travel territory restrictions, and warranties on security, alarm systems, locks, and unattended circumstances.
(Use ACORD Forms #143 or 193)
Related PF&M Articles:
AAIS Motor Truck Cargo Legal Liability Coverage Forms Analysis
AAIS Transportation Coverage Forms Analysis
ISO Motor Truck Cargo Carriers Coverage Form Analysis
ISO Motor Truck Cargo Owners Coverage Form Analysis