Protect your valuables in this festive season

The festive season is a joyful time of the year. However, it is a time when one should be extra-cautious when out and about with one’s business.
The high traffic volume during the festive season invariably leads to a higher number of road accidents, making it extremely important for those who are planning to take a road trip, travel a long distance or transport their goods, to adequately prepare for any potential risks before they set off. This time of the year is also characterised by an increase in petty crime, burglaries, robberies and hijackings.

The need to be vigilant, guaranteeing adequate security interventions and taking safety precaution, is what any business needs now. It is advisable that even at home, if you can afford, install a burglar proof or intruder detection system. Likewise, if you are going away on holiday, it is important to make sure you have done everything in your power to safeguard your property and possessions. Criminals are no longer shy of breaking into homes, shops, supermarkets and hijacking cars in broad day light.

When you’re running a business, you want everything to be taken care of and that things run as smoothly as possible. It is now the time for you to take extra care and precaution and make it a priority to protect your business and valuable properties against any festive crime. That’s why taking Goods-in-transit insurance cover if you are having any business dealing involving transportation of goods should not be overlooked because it’s safe and gives one peace of mind.

Insurance cover
The Goods-in-transit insurance cover protects against loss, damage to property caused by fire, theft and accidental means while the goods are in transit from one place to another. This cover can be taken out for goods being distributed in your own vehicle or by a third-party carrier.

This policy it often specifies the means of transport to be used, which may include postal services. Like other forms of insurance, you need to agree with your insurance service provider on the amount that your goods are valued. If the goods are new, then this shouldn’t be difficult. Remember, insurance is based on the principle of utmost good faith. So provide truthful information when purchasing any insurance policy.

Likewise, the cost of goods-in-transit insurance cover depends on the level of risk. If the business or company has a record of losing goods, then its premiums will likely be high. So, if your company has such a record, then it should consider taking measures to increase the level of security.
Like any other business, the last thing you want to worry about is whether your goods will reach their destination on time and in one piece. That’s why it is crucial to protect your property against any unforeseen circumstances through insurance.

The write is the communications officer at Insurance Regulatory Authority. E-mail:
mnalunkuuma@ira.go.ug