Transit insurance, also known as freight insurance or cargo insurance, is a type of insurance that protects goods in transit against loss or damage. It can cover goods that are being transported by various modes of transportation such as ships, trains, trucks, and airplanes. It can also cover goods in storage or warehousing. This type of insurance is usually purchased by the shipper, freight forwarder, or the consignee. It can also be provided by the carrier as an added service.

Transit insurance can cover a wide range of risks, including loss or damage due to fire, theft, collision, and natural disasters. The coverage can be on an "All Risk" basis, which covers most risks, or a "Named Perils" basis which covers only specific risks that are named in the policy. The coverage can also be on a "Free of Particular Average" (FPA) or "With Particular Average" (WPA) basis. The former covers only total loss of the goods and the latter covers partial loss as well.

Transit insurance is important for businesses that frequently ship goods as it can protect them from financial loss due to damages or losses during transit.