How does insurance work while the bicycle is in transit?

What about insurance?

Good question. Insurance is excluded, but available as an optional extra. Like most other courier companies, by default there is NO insurance, as stated in our easy to read and transparent fine print. Which leaves you with mainly two options. As discussed below.

Specify it with GIT on your existing ST policy

If you have an existing short term insurance policy and your bicycle is specified on there, and it includes GIT (good in transit cover) you might already be covered while the bike is in transit. Otherwise it must first be added or specified. Note that some short term providers include goods in transit cover be default, while others don’t. So be sure to check with your insurance company or broker to see whether your existing cover is in place.

OR buy ad hoc cover for the trip

Alternatively, you can elect to buy insurance for while the bicycle is in transit, on an ad hoc basis. It costs around 2-3% of the value of the item. And is probably the quickest way to ensure your bike is covered during the trip. But for the premium you could probably have insured the item for a few months on a ST policy. As always there are certain terms and conditions and exclusions etc. Please specify the value and make/model/details of your bicycle.

Behind-the-scenes: At the time of writing this ad hoc cover purchase is a manual request at the time of booking your bicycle transport. But we are working on an online solution that should be up and running shortly. This will allow you to select and specify this cover during normal checkout. TADA!

PS, what is Goods in Transit cover?

Kingprice says ‘Goods in transit insurance insures cargo while they are being transported by road, rail, post or air. So, you’re covered if this cargo is lost or damaged as a result of some unexpected event, like a fire or a collision that causes everything to spill out onto the road.’ They will also insure your bicycle for R1pm provided that you have comprehensive car insurance with them.

Santam says ‘There are numerous risks associated with goods being moved or transported, for both the owner as well as the carrier of the goods. Our Goods in Transit Cover is suitable for clients who need insurance for local transit.’ I’ve been a Santam customer for many years before switching to a niche insurance provider.

Miway says they offer an excellent load transportation product — ‘which gives you complete peace of mind that your business will be covered for loss or damage to items being transported by road to and/or from the specified business address.’ And I have also transported bicycles for Miway executives before.

Now you know 😊

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