Did you know?
In the event of a claim, the value of goods lost or damaged will generally be taken as:
- For goods you have sold – your invoice value
- For goods you have purchased – the purchase price as shown on the invoice
- All other goods including plant transfers – market value
What’s typically covered?
- Collision or overturning of the conveying vehicle
- Fire, lightning, explosion, wind, water, flood, earthquake, impact, malicious damage and vandalism
- Theft resulting from forcible and violent entry evidenced by visible damage to the securely locked portion of a vehicle and/or trailer or the building in which the conveying vehicle and/or trailer is being garaged
- Theft of equipment securely attached to a vehicle by locks or other securing device, which is evidenced by damage to those locks or securing devices
What’s typically NOT covered?
Loss or damage as a result of:
- Depreciation or deterioration
- Jewellery, watches, furs, antiques, paintings, works of art, precious metals, precious stones or articles composed of any of them
- Explosives, petroleum products in bulk or gas in bulk
- Delay, loss of market or consequential loss of any kind
- Collision or contact by the conveying vehicle with the kerb or uneven road surface
- Cigarettes, tobacco, wines, spirits or other alcoholic beverages unless shown on your insurance certificate
- Theft by or in collusion with any of your employees
- Electrical or mechanical derangement unless damage is visible to the exterior of the machine
Things to consider
- Are you in the business of buying and selling items? If so, it’s likely that the items will need to be transported from one place to another.
- Is there considerable traffic or are there dangerous interchanges on roads used to transport the items you buy and sell?
- Do you have some degree of control over who is driving the vehicles used to transport the goods I buy and sell? Are they sufficiently skilled and experienced?