What type of insurance is designed to cover loss or damage to goods while they are in transit?

The type of insurance designed to cover loss or damage to goods while they are in transit is cargo insurance. This specialized insurance protects the shipment and transportation process, covering a variety of risks that can occur during transit such as theft, damage, or destruction of the cargo.

Cargo insurance is particularly important for businesses that regularly ship goods, as it helps mitigate potential financial losses associated with these risks. It ensures that the value of the goods is protected from the point of origin until they reach their final destination, offering peace of mind to companies involved in logistics and shipping.

Other types of insurance mentioned in the options, such as general liability insurance, property insurance, and health insurance, serve different purposes and do not specifically address the risks associated with goods being transported. General liability insurance protects against third-party claims for bodily injury or property damage, property insurance covers damage to physical assets owned by a business, and health insurance covers medical expenses for individuals. None of these types directly relate to cargo in transit, making cargo insurance the correct choice for this context.