Delivery terms · open cover · recovery
Goods in transit insurance through a.s.r.
For a trading or manufacturing business, transit cover begins with the contract with the supplier. That sets out who bears the risk, and therefore who has to be insured.
- Several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
Deze pagina in het Nederlands: Goederentransportverzekering via a.s.r..
Calculate your premium or request a quote
Without obligation; a reply within one working day.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert.nl or call 072 - 509 24 56 and we will take it from there.
Work out your own premium with the calculator.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Goods in transit insurance covers the consignment itself, regardless of who caused the loss. For a shipper it is the only cover that has the full invoice value in view: the liability of road carriers is tied to the weight of the cargo, and freight forwarders limit their liability further still in their own conditions. With goods of a high value per kilo, little of that remains in practice. Finass brokers with a.s.r. and objectively compares the offerings of several insurers.
The first question is not which conditions you buy, but which part of the journey is at your expense. That follows from the delivery term in your purchase or sales contract. If you buy ex works, you bear the risk from the supplier's gate; if you sell delivered, you bear it as far as the customer. If you insure only the leg you drive yourself, the rest remains uninsured while you do carry the risk of it. See also international goods transport.
For companies with a constant flow of consignments, an continuous contract is usual: all carriage within the description is covered and you declare periodically what has been carried. That prevents forgotten declarations. If you also carry for others as well, a carriers' liability insurance is a separate product; if you carry only your own materials, all you need is a own goods in transit insurance.
This page deals with one situation. The full overview is on Compare goods in transit insurance.
What to look out for
Four subjects that most often lead to argument for a shipper with open cover.
Incomplete declaration of the value carried
Under an open contract the premium is calculated on the value declared. If it turns out afterwards that too little has consistently been declared, the insurer can reduce the payment proportionately. Link the declaration to your invoicing rather than to a manual count, and record who makes it.
Financial default by a party in the chain
Loss because a carrier, freight forwarder or warehouse keeper goes bankrupt or does not payis not transit loss and is excluded. The same applies to a buyer who refuses or does not take delivery of the consignment. Those are credit risks, with a product category of their own, and they do not belong on a goods policy.
Customs duties, fines and levies
Additional assessments, import duties, fines and penalty payments fall outside the cover; insurance pays for loss and not for penalties. The costs of delayed clearance and of re-inspection also remain for your account. Deal with those risks in your terms of delivery rather than counting on the policy to absorb them.
Recovery and preserving your rights
The insurer that pays takes over your right of recovery against the carrier. If you forfeit that right by protesting too late, by signing off without reservation or by signing a waiver declaration , that can affect your payment. So report a claim immediately; Article 7:941 of the Dutch Civil Code obliges you to report it and to cooperate.
What does your premium depend on?
- Annual value transported — the basis of an open contract
- Maximum per consignment — the limit per event and per means of transport
- Condition chosen — wide cover or named events only
- Mode and route — road, sea, air or combined transport
- Nature of the goods — fragile, temperature-sensitive or prone to theft
- Method of packing and loading — stacked on pallets, in cases or shipped loose
Insurers weigh these details differently. That is why comparing pays off.
What is covered
| Situation | Limited | Comprehensive |
|---|---|---|
| Your consignment is lost because fire breaks out on board the ship | Yes | Yes |
| A container with your goods goes overboard in heavy seas | Yes | Yes |
| A case falls off the forklift while being transhipped in the port | No | Yes |
| Some of the pallets disappear during a stop at the freight forwarder's yard | No | Yes |
| Your machinery rusts because of condensation in the container during a long sea voyage | No | Provided that |
| The consignment arrives two weeks late and your buyer cancels the order | No | No |
A transit policy pays for damage to the goods themselves; loss that only affects your result falls outside it.
Frequently asked questions
The questions we are asked most often about this.
Who has to insure, me or my supplier?
That follows from the delivery term. It determines at which point the risk passes and therefore who bears the loss if something happens on the way. If it says the risk passes on departure, you are on the hook from that moment, even if the supplier arranges the carriage. Record that for each supplier and insure the leg that falls on your side.
What exactly is an open contract?
A framework policy under which all carriage within the described activity is automatically covered, with a limit per consignment and per means of transport. You do not declare each shipment separately, but declare the value carried periodically. That fits a continuing flow of trade better and prevents the most common mistake: a consignment nobody declared.
Is my profit margin paid for?
Only if an uplift above the invoice value is included, usually a fixed percentage for costs and interest. Without that agreement, payment is made at invoice or replacement value. More than your actual loss cannot be considered, because Article 7:960 of the Dutch Civil Code prohibits a payment that puts you in a clearly better position than you would have been in without the loss.
Are sea containers and air freight arranged differently?
The form of cover is comparable, but the particular risks differ. In sea carriage, condensation in the container, shifting and going overboard play a part; in air freight, pressure differences and limited liability caps. The packing requirements differ accordingly. State on the application which modes you use, so that the right clauses end up on the policy schedule.
Read more
Similar pages
- Transport insurance for self-employed professionals
- Transport insurance through Chubb
- Goods in transit insurance
- Transport insurance for SMEs
- International goods in transit
- Own goods in transit insurance through Nationale-Nederlanden
- Goods in transit insurance through Allianz
- Insurance for the transport of goods