Moving insurance 101: what is it, why do you need it and how to claim it?



Relocation is not easy even if you hire reliable packers and movers. Your personal belongings may be at risk during the moving or transport process. Therefore, many moving companies offer moving insurance at reasonable rates to secure your belongings, especially for long distance moves.

Plan your move with licensed movers for a stress-free and smooth move, without any damage. Buying moving insurance will help you easily claim compensation if your belongings are lost or damaged.

The use of relocation insurance will include a certain amount of money; the cost of moving insurance can drop from 1.5% to 3%, but it would be better to take it out for a lower risk of goods and a safe move.

It is essential to subscribe to a moving insurance when traveling interurban or long distance. Therefore, moving insurance is an inevitable part that should not be overlooked when moving. So let’s talk about moving insurance, its types, the cost of moving insurance, etc.

What is moving insurance?

Moving insurance is a policy that protects personal or business property when it is moved from one location to another via specific modes of transportation, such as rail, road, or air. It covers risks such as loss / damage to property caused by natural disasters or unforeseen dangers such as fire, earthquake, accidents, theft and explosion.

Home insurance protects your belongings but does not cover losses caused while moving. But with professional packers and movers in Delhi, you can insure all your belongings by taking advantage of moving insurance policy or apt transit insurance.

Insurable and uninsurable goods in transit

It is crucial to check if a moving company offers insurance coverage, as some fraudulent movers take advantage of this opportunity to mistreat or steal your belongings.

In addition, before purchasing insurance from a moving company, carefully read the terms and conditions of the moving insurance policy.

To note: Also make sure you get a copy of the original insurance policy documents before moving.

The main items that can be insured are:

● Household and kitchen appliances

● Electronic items

● Furniture

● Gardening equipment

Items generally not covered by insurance:

  • Jewelry
  • Valuable objects
  • Cash
  • Medications
  • Glassware
  • Perishable items
  • Antiques

Why do you need moving insurance for goods?

Moving insurance ensures the safety of your belongings during the move and can be described as life buoy.

Accidents or calamities are unpredictable, so it is always best to take out moving insurance for a 100% safe and damage-free move. Transit insurance prices are based on goods in transit and preferred purchasing plan.

If you are looking for basic protection during transport, opt for transit insurance; For comprehensive insurance coverage from start to finish of the move at economical insurance rates, opt for the all-inclusive insurance policy.

There are also other types of moving insurance such as international moving insurance, moving and storage insurance, freight moving insurance, etc.

You can easily purchase insurance at affordable rates, as moving insurance costs around 3% of the declared value. You can claim insurance up to 80% of the total declared value if any household items are damaged or lost.

Main elements taken into account in the insurance costs of packers and movers:

  • Nature of goods
  • Distance to travel
  • Item Age
  • Actual value of goods

Important point to remember:

Avoid risking your hard earned money with scammers; find reliable packers and movers at affordable rates from an online directory like AssureShift. They offer a list of pre-verified and licensed moving companies across India that take responsibility for damage to clients. Hiring movers through AssureShift can ensure a safe and smooth move.

Types of moving insurance

All licensed and insured movers offer two types of moving insurance policies for long distance or long distance moves.

# 1 Transport insurance

Transportation insurance or moving insurance is the best moving insurance offered by most moving service providers.

Domestic transit insurance or domestic transit insurance covers damage to household goods that occurs during transportation, but the transit insurance company will not cover damage before or after transportation, such as packaging or shipping. unpacking, etc.

Packers and movers provide transportation insurance coverage for protection against fire, accident, explosion, lightning, transport vehicle overturn, etc., during transportation. There are different types of goods in transit insurance, like furniture and appliances, or even bicycles and cars, as they also offer car insurance in transit. If you use a third-party carrier, you can purchase third-party moving insurance to avoid the risks.

To note: Buy transit insurance from licensed packers and movers in Hyderabad, but be sure to take original invoices and certificates of insurance. You can also buy a transport insurance policy online on your own.

# 2 All-inclusive insurance

An all-inclusive insurance policy covers damage to household goods at any time from packing to unpacking.

But this insurance policy can be quite expensive because it covers all property, and movers may have to replace or pay a reasonable amount for damaged items. Even if you spend a little more, you can make your move comfortable and 100% safe.

To note: Only licensed and professional moving companies offer all-inclusive insurance, so do proper background research and check insurance documents before purchasing an all-inclusive insurance policy.

Total value protection and declared value protection

Movers and packers insurance companies offer 2 types of protection:

1) Full value protection:

Moving Insurance with Full Value Protection includes coverage for replacement, cash settlements or repair of insurable household items.

2) Protection of declared value:

In moving insurance with declared value protection, you can only claim insurance for the removal of essential household items. You must declare the value of the items you wish to insure and the movers will analyze the cost of the insurance accordingly.

Important documents to claim a transport insurance policy

Submit the following documents when applying for insurance:

  • Original invoice for goods in transit
  • Landing invoice
  • Shipping details
  • Completed and signed complaint form
  • Other documents mentioned by insurers

Key points to remember when buying insurance

  • Ask the movers about the different insurance options available and inquire about the rates.
  • Before purchasing all-inclusive insurance, check to see if the moving companies are licensed and credible.
  • Do proper research on moving companies and their insurance coverage; contact licensed and insured movers, compare moving insurance quotes and hire the most appropriate.
  • If you do not purchase moving company insurance directly, collect the insurance certificate and original invoices from an insurer.

Always remember to opt for moving insurance to ensure the perfect safety of your property. Keep these tips in mind and choose the best moving insurance policy for your move and experience a smooth and happy move.

(Devdiscourse journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse assumes no responsibility in this regard.)



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