Policy snapshot
Also known as a Single Transit Policy, this covers one-time movement of goods from a specific origin to a specific destination — within India or internationally.
What is Specific Transit Policy?
A Specific Transit Policy protects goods in a single shipment from damage, theft, or loss during transport. It's best for businesses with occasional shipping needs.
What can it cover?
- The policy covers accidental loss or damage to goods during the insured transit due to events like collision, overturning, fire, or natural calamities. If opted with wider clauses (A), it includes theft, pilferage, and handling risks as well. The cover begins from the time goods leave the warehouse until delivery at the destination, unless stated otherwise.
Who should consider it?
- Traders or manufacturers with ad-hoc shipments, One-time exporters/importers, Businesses relocating machinery or stock between plants
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers a single consignment by road, rail, air, or sea", "Choice of Inland Transit Clause (A/B/C) or Institute Cargo Clauses (A/B/C)", "Ideal for infrequent shippers", "Optional: warehouse-to-warehouse, loading/unloading risks", "Theft and pilferage included in broader clauses (e.g., ICC-A/ITC-A)", "Terrorism risks typically excluded, but war/strikes can be added"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.