This policy indemnifies the insured against loss or damage to the goods belonging to and under the control of the insured whilst in transit. It could be issued on a single transit or an annual basis and could be arranged either on All risk or limited (restricted) covers.

i. All Risk: cover loss or damage by any accident or misfortune whilst the property insured is in transit as described in the schedule or whilst in course of loading into or unloading from the conveyance or whilst temporarily house in the ordinary course or transit.

However, a restricted cover can be granted to cover:-

(a) Loss by fire

(b) Loss by accidental collision, impact or overturning of the carrying vehicle.

(c) Loss by theft following accidental collision or overturning of the carrying vehicle conveyance