Protection for goods

Covers your:

• Legal liability.
• Defense costs
• Expenses for loss and damage. 

Coverage during storage and transit

Cover applies while goods and merchandise are: 

• Temporarily stored in a warehouse you operate in.
• On a vehicle in the ordinary course of transit. 

You are covered for

• Amounts that you are legally liable to pay for claims made against you due to direct physical loss of or damage:
  • occurring during the coverage period.
  • to the property of others stored in the warehouse(s) operated by you at the location(s) specified and/or
  • while on motor vehicle(s) in the ordinary course of transit anywhere within the territorial limit specified. 
     
• All costs incurred in any legal proceedings defended by us and all interest, occurring after the court judgment is formally recorded, which is not in excess of the policy limit except 
  • if the claim is successfully resisted by you, we will pay all costs, charges and expenses incurred, up to but not exceeding the policy limit. 
  • if a payment exceeding policy limit has to be made to dispose of a claim, it will be limited in proportion to the costs, charges and expenses that the limit bears to the amount paid to dispose of the claim.

Our coverage under this policy will stay within the sum insured stated, in respect of any one occurrence or in aggregate during the insured period. 

Your premium may vary, depending on

• Limit of liability/Aggregate Limit for the period of insurance.
• Any selected additional cover.
• Underwriting requirements. 

Note:
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.