Accidents happen all the time, no matter whether you use a great removals company or not; so where ever you are moving to, insurance is a must. During shipment there is always the chance of a box being dropped or something breaking, no matter how well the possessions are packed there is no guarantee they will not be broken. By taking charge of the situation and purchasing adequate cover and choosing a company that deals with claims smoothly, these situations can be controlled by you. Replacing the article, or giving you the money to replace it, Insurance compensation gives you the piece of mind should an accident happen.
What Types of Insurance are on Offer?
1. Simple Coverage. Every moving company is required by law to include basic (standard) insurance with no extra cost to the consumer. When you look at the policy itself you will observe that the amount covered in nothing like the true cost of replacing the items. For example - if you had an item worth $10, the simple cover would only refund $6, which is 60% of the value. Some movers may compensate you for the total weight of the container in which the damaged item was in. Items that are packed by you are commonly not covered as the insurance only covers items packed by the removals company themselves. So if you need to make a claim, then you are looking at being out of pocket and paying the extra money yourself to replace items.
2. If you want that little bit extra cover which raises the percentage paid out then the removal company usually offers, Added Value Protection Cover. This can be a alterable amount but is often set at $2. An agreement is arranged between you and the firm as to the precise coverage amount you need. This type of coverage provides better compensation but still is dependent on the weight of your items which proves disadvantaging in case of expensive objects which are not necessarily heavy.
3. For a policy that pays out the cost the item when you bought it, or pays the depreciated value of the item lost or broken you can get Market Value or Depreciated Value policies. Searching for the prices of each object you own, writing them down and declaring them to the removals firm or insurer before they are packed is a drawback of this policy. Normally most people use a Replacement Value policy rather than have to do go through the inconvenience of the other type of plans.
4. Replacement Value Coverage. Often named the 'New for Old Insurance'. This type of coverage will compensate you for the full value of your lost or damaged belongings according to the new market prices but you will be paying a higher premium for this type of protection.
Things that are not Covered under your Insurance
No matter what cover you purchased, some goods will not be covered. In these cases, you should take these possessions with you. Financial papers, jewelry and photographs are the types of objects not covered in these plans. Items that show no outward sign of damage such as TVs and computers would not be covered unless you can show negligence by the removal firm. Have delicate or expensive objects such as paintings and antiques professionally crated for the best protection and even think about additional insurance just for those items.
As with all aspects of moving, make a list! - This time an Inventory List.
Before the removals firm come in, make sure you write a complete inventory of all your items. The market value of the item, the price to compensate and condition the item is in are things that should also be put down on the list. If you have time take a photograph of each of the items you are taking, if time is short try to make sure you take pictures of the pricey items. This will probably take some time but it is well worth it in the worst case scenario of an accident or a loss of an item. When moving abroad, this list will be very helpful because many customs and inspections will require it.
To Finish, Here are a Couple Further Helpful Suggestions
- Always read the fine print in your policy, it may include loopholes and exclusions which can give you a great deal of trouble should your belongings be damaged or lost.
- Ask a lot of questions before agreeing to any obligations
- Check to see if any further insurance is needed when your items arrive in another country, if you are moving abroad.
- Although you may have given the inventory file to your removals firm, keep a copy for yourself and take it with you.
- Whilst every care will be taken by the removals firm, check to see if your insurance covers any damages done to your house.