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Transit Risks Section

SOUTH AFRICAN SPECIAL RISKS INSURANCE ASSOCIATION (Sasria Soc Ltd)Ref: https://sasria.co.za/wp-content/uploads/2025/04/Transit-Risks-Section.pdf

Official source

Source domain: sasria.co.za

Collected on 13 July 2026

Always confirm details on the official source before acting.

What this means

This document is a section of Sasria SOC Limited’s regulations dealing specifically with “Transit Risks” for goods/property in transit under an underlying marine or goods-in-transit policy. It sets out which underlying policies it applies to, how Sasria “Transit Coupons” must be issued (including schedules/tax invoice requirements), rules for deliberate storage, monthly/annual declarations for open marine policies, VAT treatment, deductibles, territorial limits, and premium computation/rates. It also includes specimen endorsement requirements (ANNEXURE 18 and 19) and minimum premium amounts and coverage duration rules.

What this document offers

Read out of this document by Govermate's AI, in its own words. Each one quotes the line it came from — confirm on the official source before acting.

insurance couponOngoing

Transit Coupon for Goods in Transit

Sasria issues a Material Damage Coupon (Transit Coupon) for goods in transit, including inland transit, marine cargo limited to South African risks, and stock throughput (transit risks only), provided the underlying policy includes S.A.I.A. Exceptions and covers property in transit within South Africa.

Who it is for: insurers, policyholders, agents, and businesses with goods in transit within South Africa
How to act on it: Apply through an insurer or agent who issues the underlying policy with S.A.I.A. Exceptions; ensure the correct schedule/tax invoice is issued and attached to the Transit Coupon.

Show the line this came from

A Sasria Material Damage Coupon is issued in this instance. (Hereinafter referred to as a Transit Coupon).

Facts

Reference

https://sasria.co.za/wp-content/uploads/2025/04/Transit-Risks-Section.pdf

Amounts

R 500, R 50

Key Takeaways

Applies to: Goods in Transit, Inland Transit, Marine Cargo (limited to South African risks), and Stock Throughput (Transit Risks only)
Sasria issues a “Material Damage Coupon” called a Transit Coupon for underlying policies
Underlying policy must include S.A.I.A. Exceptions; these do not nullify Institute War Clauses or Institute Strikes Clauses (Duration Clause)
Deliberate storage after transit requires Sasria approval and an attached endorsement before storage begins; storage sum insured not exceeding an unspecified R amount and subject to average
Open Marine monthly declarations: 30-day period does not apply; monthly Transit Coupons must be issued and declarations copied/attached
Open Marine annual declarations: endorsement must be attached (ANNEXURE 18) with specimen wording for projected imports/exports
VAT: Sasria limits/sums insured are VAT inclusive; VAT-exclusive underlying limits/sums insured must be increased by VAT content
Deductibles: none applicable to Sasria Transit Coupons; underlying-policy deductibles are not imported into the Sasria coupon
Territorial limitation: cover limited to South Africa territorial limits including South African territorial waters
Minimum annual premium R500.00; minimum monthly premium R50.00
Minimum period for Marine Open Policy: at least 1 year; Sasria remains in force until all covered sailings/sendings are delivered (storage follows deliberate storage clause)
Sasria SOC Limited
Sasria SOC Ltd
S.A.I.A.
Institute War Clauses
Institute Strikes Clauses
Lloyd’s
South African territorial waters
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