Why would I need Insurance ?

Relocation is stressful, finding a mover is tough, having our personal goods and house hold transported to another country is a process. And what will happen if it doesn’t make it? What happens if something got damaged? Who is responsible? All this questions come along on the process of your shipment and especially when things don’t make it in once pace.

This is why when you find your shipping company you must look for the best moving insurance coverage for your shipment. As we all know that relocating goods from city to city is difficult, how about country to country over the big sea. 

There are various moving insurance policies and services. Full marine coverage, total lost coverage, long distance and local moving insurance, insurance per lb, per volume, per article, and more… The best way to insure your shipment is to go with the full marine coverage. A full marine coverage will insure your shipment Door to Door, you can find insurance coverage up to 30 days after your shipment was cleared at the port of your destination. But this kind of insurance you’ll most likely find with a reputable company.

See bellow the terminology of insurance services and coverage:

-  Full (all) Marine insurance coverage
-  Total Lost coverage
-  Per lb Per article
-  No Insurance coverage
-  PBO – Packed by owner
-  PBC – Packed by company

 

Full Marine Insurance Coverage – in today’s market you’ll be able to find a rate of 2.0% – 3.5% which will provide you with moving insurance policy for Door to Door, Door to Port, or Port to Door, and Port to Port, your shipment will be covered from fire on board, water damages, smoke, lost, high jacked, mold, etc. check your policy with the company who is issuing your insurance.

Total Lost Coverage – Total lost will take place for goods who are not worth to be insured, which is quite rear… the total lost coverage will cover only if the shipment was lost in sea, or damaged in such a way that nothing has remain from the shipment. Only then the customer will receive a return based on his declare value of insurance.

Per lb Per article – per lb is the most cheapest moving insurance coverage, mostly used by movers and interstate companies, not applicable for international relocations. The insurance coverage is based on the amount provided by the moving company usually it’s $0.60 per lb per article.
For example - Mirror is 5 lb @ $0.60 = will be $3.00 only which will not cover any damage that might apply on shipment.

No Insurance coverage – For no insurance coverage the shipping or the moving company will not be held responsible for any damage or lost that might apply on shipment and while processing the shipment. In this case the customer will have to sign a release form that the company is not responsible for any damages on the following shipment. And the customer will not receive anything from the movers or shippers. For example is the shipment got down to the bottom of the ocean the customer will not receive any compensation from the shipping company.

A good moving insurance is a detailed insurance, meaning that the consumer who will purchase the moving insurance services from his shipping or moving company he will require to detail the value of the shipment itemized (item by item) any item which be listed on the insurance inventory will be insured. The value of insurance needs to be based on replacement value in the destination country. And not by the value of the origin country, in some cases the customer would require to multiply the value in order to reach the value at the destination country for replacement value.

A PBO or PBC are the following listings that will apply on the consumer inventory list, which will determent what are the boxes the movers packed and what are he boxes the consumer packed. Therefore it’s most recommended that the shipping/ moving company or to pack all the breakables and furniture, art work, etc. in order to receive a full coverage insurance value.

By the end of the day, after your goods has arrived to it’s destination and you unpack your shipment, then if you have any damages the insurance will be able to cover the lost or the damages based on your insurance value and declaration. If the items where not listed on the moving insurance inventory they will not be covered. In that matter it does not apply to who packed it. It applies in the matter if it was insured.

At all moving insurance companies you will require a detectable, be sure to ask your representative what is the detectable amount when you purchase the insurance. A high detectable means for high risk of damages by the company, which means that the company is not using professional packers with no professional experience of packing skills for domestic or international relocation.  

Is it recommended to purchase Moving Insurance ?    Yes !

It will cover damages that can or might apply on your shipment while in transit, on ground, sea, air. It will cover damages that might apply on deck, loading or unloading containers on vessels, fire, water damages etc. Full marine coverage insurance will cover the following above.

It will not cover memories, and moving insurance companies will not pay your memories to come alive, for example if you have silver from 60 – 80 years from your relatives and so, the moving insurance companies will cover the value at its current price and not by the sentimental value. Therefore the moving insurance value will require to be based on actual value.

High Value of goods, will require to be appraised and certified fora better moving insurance coverage such as high value pictures, antic furniture, special statues, etc. The insurer who is the customer will have to insure for its value, otherwise moving insurance companies will refuse to cover any loss or damages if will apply on the art work.
For example a picture worth $15,000 insured at $6,000 on this example the insurer will claim for a full coverage while he has insured less then ½ of the picture value. Insurance companies will not accept these.

Always know to provide your company representative with these sensitive issues in order to avoid the loss of your preaches.

See our gallery of shipments in transit, and disasters that can apply.