Goods in Transit Insurance
THE POLICY
This type of insurance covers property described in the schedule against loss or damage by the perils covered in the selected cover option whilst in transit anywhere in Australia by road transport, rail, sea, air or post.
WHO NEEDS THIS COVER?
Church operated organisations and businesses, particularly hospitals and nursing homes, schools and colleges, offices and others that from time to time have a need to transport property.
DEDUCTIBLE/EXCESS
A minimum deductible of 0.5% of the sum insured applies, but this may be varied depending on the type of property and the particular circumstances.
LIMITS OF LIABILITY
The limit of liability is the amount or amounts set out in the schedule and represents the maximum amount we will pay for any one loss or series of losses arising out of the one conveyance.
FIRE SERVICE LEVIES and STAMP DUTY
Goods in transit insurance is not subject to Fire Service levy or Stamp Duty.
GOODS and SERVICES TAX
GST may be applied to policies issued to individuals and non-exempt Church Institutions.
FEATURES and BENEFITS
The cover attaches from commencement of loading onto the conveyance for transit anywhere in Australia and continues during the ordinary course of transit and terminates on completion of unloading from the conveyance at the intended destination.
OPTIONS/EXTENSIONS
Cover options available for selection:
- All risks of loss of or damage to the insured property unless specifically excluded, or
- All risks of loss of or damage to the insured property but excluding breakage, scratching, chipping, denting, bruising and leakage unless caused by an accident to the conveyance, or
- Loss of or damage to the insured property directly caused by fire, flood, collision of the conveyance, overturning of the conveyance, derailment, impact to the property whilst on the conveyance with any object not on or part of the conveyance, or theft, or
- Loss of or damage to the insured property directly caused by fire, flood, collision of conveyance, overturning of the conveyance or derailment.
IMPORTANT POINTS
The policy does not cover loss, damage or expenses:
- Caused by or arising from wear and tear, mildew, vermin, insects, termites, disease, inherent vice or nature of the property, latent defect, corrosion, oxidisation, fading, delay, loss of market, consequential loss of any description or destruction of or damage to the property by or under the order of any government or public or local authority unless such destruction or damage is necessary due to damage caused by an insured peril or event.
- In respect of livestock, temperature controlled goods, jewellery, gold and silver articles, precious stones, bullion, cash or negotiable instruments.
- Directly caused by or arising from electrical, electronic or mechanical breakdown or data corruption or distortion of any kind.
- Loss or damage as a result of theft from a vehicle unless accompanied by visible, forcible and violent entry.
- Caused by fraud or dishonesty by the insured including directors, employees or officers.
The Composite Risks policy includes an anywhere in Australia transit cover on specified portable equipment, this policy is designed for property not covered by the Composite Risks policy or is above the sub limit.
TAKING OUT A POLICY
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation and issuing a policy.
The Insured should minimise the extent of damage, preserve the effected parts for later inspection and immediately notify us so inspection and repairs can be arranged.
Please note: this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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