Moving? Have it Insured as well

Moving can be a pain. Have them insured too.

Accidents may happen anytime, no matter whether you use a good removals company or not. Thus, where ever you are moving to, insurance is an essential purchase. The safe arrival of your possessions is not always guaranteed, with things smashing against each other or cartons being dropped carelessly, there’s always the risk of damages and breakages. Take charge of the situation by acquiring adequate cover and choosing a company that deals with claims quickly, these situations can only be managed by you. Replacing the item, or giving you the cash to replace it, insurance compensation gives you the peace of mind and the means not to lose money when an accident takes place.

What Choices of Insurance are Available?

1. By law, each removals company has to provide a basic insurance cover to the consumer without cost, the insurance against accidents. Yet, in most circumstances this standard coverage has no relationship to the actual value of your goods. For example – if you had an article worth $10, the basic cover would only refund $6, which is 60% of the value. Some movers may compensate you for the full weight of the carton in which the damaged article was in. Items that are packed by yourself are usually not covered as the insurance only covers items packed by the removals company themselves. So taking all the points together, this sort of insurance usually falls short when you need to make a claim.

2. If you want that little bit extra assurance which raises the percentage payout than the removal company usually offers, avail the Added Value Protection Cover. This can be an alterable amount but it’s usually set at $2. You can arrange the exact coverage with your removals company. Items that are expensive to replace but are light are not really covered in this type of scheme as the cover arranged by the firm is still paid out on weight.

3. Market Value or Depreciated Value Coverage. For this coverage, the market value of the object lost or damaged is used to compensate the customer. 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 scheme. Normally, most people use a Replacement Value scheme rather than have to do go through the inconvenience of the other type of plans.

4. ‘Like for Like’ insurance or ‘New for Old’ insurance is known as a Replacement Value Scheme. This type of cover will compensate you for the total value of your lost or damaged items according to the new market prices but you will be paying a higher premium for this type of protection.

Objects that you Cannot Insure

Some of your personal possessions are unlikely to be covered under any cover you buy. In these cases, you should keep these possessions with you. Financial papers, jewelry and photographs are the types of things not covered in these plans. Also home appliances, TVs, stereos, etc. are not covered unless it can be shown that the mover handled the items clumsily and there is visible physical damage to the object. Professional wrapping and crating for unique items, such as antiques, expensive paintings and musical instruments, may be the best way to deal with these things.

Make an Inventory List

It is strongly recommended to take a complete inventory of your items before you move. Make sure the list is complete and includes notations like value, price and condition. If you have time take a picture of each of the items you are transporting. If time is short, try to make sure you take pictures of the expensive items. This may take some time but it is well worth it in an off chance of an accident or a loss of item. Customs will need to see this list if you are moving overseas, not only to avoid having to pay tax on your items, but also to make sure you are not shipping any damaging or harmful items into your new country.

Additional Hints and Tips

1. Before signing any policy for insurance, look for any likely exclusion before signing.

2. Ask a lot of questions before signing any obligations.

3. When moving abroad, check if you are covered in that country as well as the country you are leaving.

4. Keep hold of a duplicate of your photos and inventory until they are safely put in your new property.

5. Your removals company may damage your home when taking out or putting in your belongings, so check to see if this damage is covered.