Any tradesman relies on the tools of his trade, along with the equipment, materials and supplies to get the job done.
When these essential items are being transported from one site to another, from one job to another and backwards and forwards to your home or depot, they are vulnerable to a range of different risks and perils. They run the chance of being lost, damaged or stolen.
Whether the loss or damage is to the goods you are carrying or the tools you need for your next job, they are not only going to be expensive to replace, but the inconvenience and the time lost may have a severe impact on your business – not to mention the goodwill and reputation you owe it to your customers to maintain.
Goods in Transit insurance – also commonly known simply by its initials GIT insurance – helps to protect the goods you are transporting. Insurance for the tools you are carrying in your van protects the equipment that is vital for getting your work done. Combine both Goods in Transit insurance and our special tools insurance package and you are safeguarding everything you need whilst staying on the move.
Why choose constructaquote.com?
- We are specialists in arranging insurance cover for tradesmen – more than 26,000 of them already rely on the products we provide
- When you compare our Goods in Transit insurance with other providers, you might soon appreciate why we arrange and service more than 33,000 policies every year
- These include policies for more than 750 different trades
- We are fully committed to our clients and uphold a principle of honesty being the best policy – maybe that’s why some 95% of our customers rate our service as “good” or “excellent”.
More details about combined Goods in Transit and tools insurance
A tradesman’s van and the goods and tools within it are favourite targets for thieves. So much so, that according to an article published by the website Commercial Fleet on the 31st of January 2016, the number of thefts of vehicles and of goods in transit has been estimated to have doubled in the past quarter.
Goods in Transit and tools insurance gives you protection against that growing risk of theft, together with the additional risks of loss or damage to the tools and goods you are carrying.
What does Goods in Transit insurance cover?
Just as the name suggests, Goods in Transit insurance protects the goods you carry whilst they are in transit – that is to say, when you are transporting them from one place to another.
Although any policy is likely to vary in its detail from one insurer to another, this form of cover typically gives you protection against:
- The theft of the goods whilst they are in transit
- The loss of the goods whilst they are in transit
- The loss of the goods in transit as the result of a fire
- Damage caused as the result of an accident during the journey
- Damage to the goods whilst they are in transit
- depending on the particular policy and any options you choose, compensation for any unreasonable delay
When arranging cover, it is important to estimate the likely value of any goods you are likely to be carrying and to set the insured limit accordingly. Remember that there may also be a limit on the value of any single item.
You may also need to decide whether the basis of any settlement in the event of a claim is the replacement of lost goods as new, or the typically cheaper option of settlement after the deduction of an allowance for wear and tear.
If you are carrying hazardous goods or food which is perishable and might be lost in the event of the freezer unit failing, special goods in transit insurance may be necessary.
Cover for any personal effects that are kept in your vehicle may also be included up to a given maximum value – and certain, more expensive items, or those with a particular appeal to thieves, may be excluded.
The vehicle and any goods in transit are likely to be at their most vulnerable if the van needs to be parked overnight. Special security provisions – such as parking in a secured compound – may therefore be a condition of the insurance if full cover is to be maintained.
What does tools insurance cover?
As with Goods in Transit insurance, cover is also available for the theft, loss or damage of the tools of your trade whilst you are on the move.
In this case, however, and depending on the particular policy you choose, you may also have the option of extending such cover for your tools and equipment after it has been unloaded and you are already working onsite.
A combined Goods in Transit and tools insurance policy, therefor, my help you to look after and protect both the tools of your trade and any goods you may be transporting.