Confused about how Covid-19 affects your business insurance? Get answers at our Covid-19 FAQ.
If you have employees, protect them with Covid-19 Infection Insurance.
Road accidents are common in a densely populated city like Singapore. There were 5,555 reported road accidents in Singapore in 2020! If the vehicle carrying your goods gets into an accident, topples over, or catches fire, you could be facing a nasty financial loss.Â
Provide is the easiest way to get affordable Inland Transit Insurance. Protect your goods today.
Inland Transit Insurance covers damage, theft, and loss of your goods while they’re being shipped on the road.Â
Inland Transit Insurance covers you for the following shipping stages:
As you can see, Inland Transit Insurance provides end-to-end coverage for your goods. This policy provides protection from the time they’re being packed, to the time they’re delivered to the customer.
There are two kinds of Inland Transit policies that you can have:
Single-Shipment Cover: This is a policy that provides coverage for one specific shipment. For instance, if you’re moving a set of heavy machinery from Jurong to Changi, and are only needing coverage for this one-time move, then this policy would suit you well.
Annual Cover:Â This is a policy that provides coverage for unlimited shipments. This type of policy is great for businesses that will be performing multiple goods shipments every year. Logistics businesses would do well with an annual policy. You can increase the policy coverage amount at any time if you end up shipping more goods than expected.
Inland Transit cover is useful if you do any of the following:
Deliver goods to customers in Singapore
Transport equipment or machinery to clients
You engage a third-party logistics firm to move your items for you
You move high-value goods, like jewellery, gold, branded clothing, expensive watches, etc.
You should insure the value of the goods you’re transporting. It’s important not to under-insure your goods. If any damage occurs to your goods while they’re travelling on the road, and they are under-insured, you won’t be able to receive adequate compensation for your loss.
It’s always cheaper to purchase your own Inland Transit Insurance. If you get Inland Transit Insurance from your moving company, it is likely that you will pay a margin on top of the insurance premium.
We’ve established that Inland Transit Insurance covers your goods while they’re being shipped on the road. It’s a good idea to combine some other policies with Inland Transit Insurance:
Marine Cargo Insurance: This covers goods that are being shipped outside of Singapore. This covers items being shipped from Singapore to elsewhere, or goods shipped from other countries into Singapore. You can even cover goods that don’t transit through Singapore. This policy protects you from damage/loss to your items. Despite its nautical-sounding name, this policy doesn’t just cover ship-based freight. It covers goods that are shipped via sea, air, and land.
Bailees Liability Insurance: If you’re shipping goods that belong to someone else, you’ll need Bailees Liability cover. This protects you from liability if you damage these goods that you’re responsible for. It covers lawyer’s fees, and the cost of damages to compensate others if you’re at fault for damaging/losing their items.
Inland Transit Insurance premiums start from just $12/month. Premiums are highly affordable. We’ll get you a quick quote. You’ll be able to protect your goods in no time at all.
With Provide, you save up to 25% on your premiums. Our digital operating model creates lower overheads, and we pass every dollar saved back to our clients. Get started on a quote today!Â
