Short answer
VSPEED has provided an RHB Insurance Berhad Goods in Transit policy for vehicles listed in its schedule. The schedule covers General Goods–FMCG carried by land in Malaysia, including Singapore, and records an insurance period of 17 July 2026 to 16 July 2027. The limit is RM350,000 per conveyance, subject to the policy terms. This is cargo cover on the scheduled vehicles, not automatic cover for every VSPEED shipment, every vehicle, or a sea or air leg. Ask the team to check your cargo, route and assigned vehicle before dispatch.
For customers using VSPEED’s scheduled transport vehicles who want to confirm cargo cover before a Malaysia or Malaysia–Singapore road shipment.
Published by VSPEED · Updated
What this policy covers
The Inland Transport Clause (All Risks) addresses loss of or damage to insured cargo in the ordinary course of transit, subject to its exclusions and conditions. The schedule also lists loading and unloading cover and a hijacking/armed robbery extension. Loading and unloading has a defined scope around the carrying vehicle and adjacent ground or loading bay; it is not blanket cover for every warehouse activity. “All Risks” does not mean every loss is payable.
Which vehicles, goods and routes qualify?
The vehicle list in the policy schedule is the starting point: being part of the wider VSPEED fleet is not enough on its own. The recorded cargo category is General Goods–FMCG and the mode is Land, with Malaysia including Singapore as the journey area. The packing description “Loose Container Load” does not extend this land policy to an ocean LCL shipment. Goods outside the described category, substitute vehicles, third-party carriers, sea or air legs and storage outside ordinary transit need a separate check.
RM350,000 is a conveyance limit, not a promise per parcel
The schedule sets RM350,000 as the limit for any one conveyance. It is not a separate RM350,000 allowance for each customer, pallet or parcel sharing that vehicle. The policy’s valuation condition uses the lower of insured value and market value, subject to applicable deductions and terms. It also contains an underinsurance condition: if the total insured property on the vehicle exceeds its limit, a proportional share of a loss may remain uninsured. Declaring a value alone does not increase the limit or guarantee full invoice-value payment.
What deductible does the schedule state?
The schedule states 2% of the loss or a minimum of RM5,000 for each loss. In other words, its stated minimum is RM5,000, rather than a flat 2% in every case. The base wording also contains an excess proviso referring to fire, explosion or an accident to the conveyance. The insurer must read that wording with the schedule and endorsements to decide the deduction applicable to a specific incident. This page does not treat the schedule figure as an automatic customer charge.
Important exclusions and operating conditions
Delay and indirect or consequential losses are excluded, so late delivery does not by itself create an insurance payout for lost sales or penalties. The wording also excludes inherent vice, specified wear or deterioration, certain valuables and livestock, cheating and criminal breach of trust. The schedule excludes damage caused by non-compliance with vehicle load capacity and sets conditions for overnight loaded vehicles. Theft from unattended vehicles is restricted by the unattended-vehicle clause. Other exclusions include war/strike/riot, terrorism, radioactive contamination and applicable disease, cyber and sanctions provisions. These are key points, not the complete wording.
Carrier responsibility and insurance are separate questions
The named insured makes a claim under this policy; a customer is not automatically a named insured or entitled to the full conveyance limit. Responsibility under the transport agreement and payment by the insurer are assessed on their respective terms. Insurance does not automatically fill every difference between invoice value and carrier liability. Before shipping high-value or unusual cargo, ask VSPEED to check the vehicle allocation, total load value and whether additional insurance arrangements need to be explored.
If goods are lost or damaged
Contact VSPEED immediately with the shipment reference, delivery record, photographs of the goods and packaging, packing list and invoice. Preserve the goods, packaging and relevant records, and take reasonable steps to prevent further damage. The policy requires the insured to give immediate written notice and provide a detailed written claim within 14 days of the event; theft or pilferage also requires immediate police notification. An attached loss-notification clause addresses inadvertent notification delays, so do not assume a late notification is automatically accepted or rejected. Do not arrange settlement, dispose of evidence or commit repair costs without instructions and any required insurer consent. The insurer may request further evidence.
What to send before dispatch
Send the invoice value, product description, packing list, carton or pallet count, dimensions, weight, route and intended date. Flag fragile, temperature-sensitive, high-value or unusual goods. VSPEED can then check the assigned vehicle against the policy list, the cargo category and journey, the load limit and any special conditions. This guide summarises the supplied policy; current cover and any amendments must be confirmed for the actual shipment.
Policy evidence: insured name, period and limit
This is a redacted excerpt from the supplied RHB Goods in Transit schedule, not a newly created insurance certificate. It retains the VSPEED name, policy dates, cargo category and per-conveyance limit. Identifiers, commercial figures and unrelated personal or company details have been withheld. The full policy, conditions and endorsements govern cover.
Policy evidence: land transport, territory and deductible
This excerpt shows the stated mode, territory and deductible. The vehicle list below it is intentionally omitted from public display; VSPEED checks the assigned vehicle privately. A generic clause mentioning sea or air does not override the Land mode in this schedule.
Official references
FAQ
Does VSPEED provide goods-in-transit insurance?
VSPEED has supplied an RHB Goods in Transit policy for the vehicles listed in its schedule. It describes General Goods–FMCG carried by land in Malaysia including Singapore. The team must check the actual cargo, journey and assigned vehicle; it is not automatic cover for every shipment.
Isn't my cargo already covered by the carrier?
Carrier responsibility and insurance are different. This policy is subject to its named insured, vehicle list, cargo category, exclusions and limits. A transport booking alone does not promise full-value insurance compensation.
Do I need insurance for every shipment?
First check whether the actual shipment falls within this vehicle policy. High-value, unusual goods, other vehicles or other transport legs may need separate arrangements. An additional policy or increased limit is not created merely by declaring a higher value.
What do I need to provide to arrange cover?
Send the invoice, packing list, cargo type, packing, weight, route and date. Flag any fragile, high-value or temperature-sensitive goods so VSPEED can check the vehicle and relevant policy conditions.
Does RM350,000 apply to each customer’s shipment?
No. It is the schedule’s limit for any one conveyance, not a separate allowance per customer, pallet or parcel. The loss valuation, applicable deductible and underinsurance conditions also matter.
Does this policy cover ocean and air shipments too?
The supplied schedule specifies Land and Malaysia including Singapore. It does not establish cover for the ocean or air leg. Those legs and any other carriers need separate confirmation.
What deductible is shown?
The schedule states 2% of loss, minimum RM5,000 per loss. The base wording has an excess proviso for certain causes. The insurer determines applicability by reading the schedule, wording and endorsements together.
Are loading, unloading and theft covered?
There are loading/unloading and hijacking/armed robbery extensions, but each has conditions. Unattended-vehicle theft is specifically restricted. A claim depends on the event and full wording, not the heading alone.
What should I do when damage is found?
Notify VSPEED immediately and preserve evidence. The policy calls for immediate written notice by the insured and a detailed claim within 14 days; theft also requires immediate police notification. The loss-notification endorsement must also be considered.