Context
On 21 December the ABI published an article relating to the latest COVID-19 restrictions and the impact of travel delays on freight transport.
Key points to note
- The ABI is keen to provide as much clarity as possible for those querying whether goods in transit cover will apply to any perishable goods affected by the delays
- Goods in transit cover primarily provides cover for damage to goods from an insured peril – such as due to a vehicle accident, or loss or theft of the goods
- Cover is available for stock deterioration, but this usually covers breakdown of refrigeration equipment as opposed to cover for delays in transit
- In general, loss damage or expense caused by delay are a standard exclusion, however, the ABI is recommending that those affected review their policy wording and if unsure, speak to their insurance broker, or insurance provider