Let’s face it, between profit margins, creating your own version of whatever corporate synergy is, and growing your business, it might not be high on your list to add yet more cover to your business insurance portfolio. But the reality is that small-to-medium businesses in South Africa face a variety of risks and should do what it takes to cover all their bases if they want to survive.
This is especially true if they transport their own goods.
If your business transports its own products, you’re vulnerable to theft, damage, and loss of goods during transit. To mitigate these risks, you should consider getting cargo insurance, or goods in transit insurance, as we call it in our kingdom.
Here’s a closer look at what this cover is, when your business should invest in goods in transit insurance, and a few other vital bits of info that will help you make an informed decision.
What motor cargo insurance is
But first, let’s define what this cover is in our kingdom. Our goods in transit insurance covers your goods while they’re on the move from 1 location to another. If your cargo is lost or damaged as a result of some unexpected event, like a fire or a collision that causes everything to spill out onto the road and perhaps even end up being crushed into a million pieces… We’ve got your back.
Essentially, you get financial protection against theft, damage, and loss of goods during transit, which is particularly important for small businesses that rely on the transportation of goods to operate. You see, transport damage and theft happens all-too-often, and all it takes is 1 incident to put a major dent in your reputation and your bottom-line.
Here’s what the king’s goods in transit insurance covers:
- All risks: We’ll cover the loss or damage to your precious cargo on the move (whether it belongs to you or if you’re responsible for it) caused by an accident or incident. We’ll even pay fire extinguishing charges (as long as the cause isn’t excluded by King Price).
- Fire, explosion, collision, derailment, and theft and hi-jack.
- Costs for debris removal, fire extinguishing charges, and damage due to riots and strikes.
We always like to say ‘your choice; our pleasure’. So, you can structure your cover to include what you need and not pay for what you don’t need.
So, when should your business get the GIT?
There’s a simple to way to determine if your small business should amp up its cover and get the GIT. Starting with… Do you even transport goods? Ok good, if that’s a yes, then you can proceed to our checklist to see if your business needs our financial protection against unexpected losses.
Do you check any of these boxes:
- Your business transports goods on a regular basis.
- Your business transports high-value goods, such as electronics or jewellery.
- Your business transports goods over long distances.
Yes, getting the GIT does mean adding another expense, but your business might not survive an incident that results in your goods not making it to their destination. When you weigh up the risks, it’s a cost worth paying. And the good news is that we’ve made it our business to offer you the most affordable cover around.
Want to get a quote for the king’s simple, cheap goods in transit insurance for your business? Just click here and we’ll get cracking! You can also get your broker to call us on 0860 21 00 00.
