Goods in Transit Insurance in Kenya

Goods in transit insurance covers your goods against loss or damage while they are moved by road, rail or inland waterway, from loading at the start until unloading at the destination, including temporary stops. It can be bought for a single trip or as an annual policy, and on named perils (fire, collision, overturning) or wider all-risks terms that add theft and pilferage.

Goods in transit covers goods moving within Kenya, or overland in the region, by road, rail or inland waterway. Marine cargo covers imports and exports by sea or air, plus the connecting road legs, under Institute Cargo Clauses A, B or C. Marine cargo on imports must be placed with a Kenyan-licensed insurer; goods in transit has no such legal requirement.

Commercial vehicle insurance covers vans, pick-ups, lorries, buses and special vehicles used for business. Third-party only meets the legal minimum; third-party, fire and theft adds those risks to your own vehicle; comprehensive also covers accidental damage to it. The policy is written for a use class, such as own goods, general cartage or PSV, so declare how the vehicle is really used.

Fleet insurance puts all your business vehicles on one policy with one renewal date. Insurers often start fleet rating from about three vehicles and price it on the fleet's claims history over three years, area of use and whether you run a fleet-management or tracking programme. A good record and trackers can bring better rates or lower theft excesses.

Make people and the premises safe, then limit further damage. Report theft, break-ins and accidents involving injury to the police immediately and get the OB number and an abstract. Notify your insurer or agent the same day (some insurers ask for notice within 24 hours). Photograph everything, keep damaged items for the loss adjuster, do not admit liability to anyone, and start listing what was lost with its value.

Expect to provide a completed proposal form, your KRA PIN, a certificate of registration or incorporation, a CR12 for limited companies, and the ID or passport of the person signing (some covers, such as bonds, ask for every director's ID). The insurer will also want a list of what you are insuring and its value, staff numbers and annual earnings for WIBA, your premises' construction and security, and three years' claims history.

The biggest factors are what you insure and its value, your trade (a factory costs more than an office), the building's construction (stone or block is cheaper than timber), the location and neighbouring risks, your security and fire protection, the limits and excesses you choose, the number of staff and payroll for WIBA, and your claims history. Extras such as riot and political-violence cover add to the premium.

An SME package (also called a business combined or office package) puts several covers into one policy with one premium and one renewal date. Fire and perils is usually the compulsory core; you then choose sections such as burglary, money, all risks, public liability, WIBA, goods in transit, fidelity guarantee and business interruption. Each section has its own sum insured or limit, so you insure only what your business actually has.