Basic insurance has limited liability. Which means that it only covers theft on; hijacking, collision, overturning, and if the vehicle catches alight, which results in damaged goods. In addition, basic insurance does not cover goods that are; scratched, dented, broken, or lost in transit.
If you have Goods In Transit Insurance, you can claim from your Insurance. If you do not have Goods In Transit Insurance, you will have to come to a resolution with the Customer. This may lead to unpleasantness.
GIT insurance is not necessary, but in order to qualify as a Preferred Service Provider, it is mandatory. Customers prefer to deal with Transporters with GIT and this will increase your chance of winning more jobs.