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Insurance for traders
Page 39
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• A new, simplified insurance policy covering "all risks" for traders' goods in transit has been announced by the National Transit Insurance Company. Called "trader's collective insurance", the policy also covers fire, theft and static risks, while goods are on premises other than a trader's own.
Special features of the scheme include one annual premium which is calculated on the known rate of turnover of the insured firm. Notification of individual vehicle details and changes are not now immediately required. The policy also covers goods in transit by post, rail and carrier, and in the possession of commercial travellers, agents, etc.
National Transit stresses the need for traders now carrying goods for hire and reward with vehicles not exceeding 30cwt unladen to have adequate cover for their additional responsibilities. On-the-spot cover is offered by the company in this field.