While performing
a home shift from one place to another, there could be risk of damages for your
precious items during the moving process. Getting a transit insurance could be
the good choice for protecting your goods against possible risks and it is provided
by trusted moving companies in India.
It’s always
better to relocate with the expert and insured relocation service providers to
have a damage free and a comfortable moving experience.
If you hire an expert mover in your city for e.g. Faridabad packers and movers, there would be fewer damage risks to your belongings. As professional movers deliver you the transit insurance, you don’t need to worry regarding the loss. Insurance can be claimed, if your belongings get damaged unexpectedly during any relocation task.
Availing a
transit insurance would cost you about 1.5% to 3% of the total declared value.
It’s essential to get a moving insurance, particularly when you are shifting
your goods to a long distance.
Transit
insurance is the good tool to secure your goods from unfortunate damages that
could occur during the transit, because of natural disasters or human errors.
You should understand regarding this insurance completely, if you are opting
for it. Buying a moving insurance would help you to perform the job without
more stress.
Hence, know more
about moving insurance from the below given information before purchasing it.
What is a home moving insurance?
During a
relocation or transit, you can get insured for your households, by availing a
valid transit or moving insurance through any trusted moving companies in
India. When you move your households to a new home using your own vehicle, your
vehicle insurance
policy would not cover your goods as well. But, not to worry. You can avert
it by leaving your valuable households at risks by getting a relocation
insurance policy.
Transit
insurance is a policy which covers the risks for your commercial products as
well as personal. They are moved from one place to another through some modes
of transportation by rail, road or air.
It covers the
risks on natural calamities such as fire, accidents, explosion, robbery,
earthquake, etc. It could be either taken from hiring relocation service
providers or from general insurance service providers.
There are few things
that are not covered by transit insurance policy. You should buy a transit
insurance on your relocation, as you care on your households. It is significant
to go through policy’s terms and conditions before buying this insurance
policy. This would aid you to find out what things are insured and what are
not.
Why you require home transit
insurance?
When most kinds
of house insurance do not cover damage or loss to your belongings during a
move, some insurance providers extend the coverage to involve move through, but
only an expert moving company is hired. When you are shifting your household
items using your vehicle, even your auto insurance policy will
not cover your belongings. This puts your valuable households at risk of
accident, damage and theft that can be avoided by getting a relocation insurance
policy.
How it works?
You can either
get a transit insurance from professional movers or from general insurance
companies. Precious belongings like your jewelry and money are excluded from
transit insurance policies, while items like electrical appliances, furniture,
garden equipment are involved in this arrangement.
The general
insurable goods are:
- Electrical appliances
- Home equipment
- Kitchen appliances
- Furniture
- Garden equipment
Factors that play
a role in the premium charges are:
- Nature of products
- Age of items
- Real value of products
- Distance to be travelled
- Claim history
Goods that
cannot be insured during transit are:
- Jewelry
- Documents
- Cash
- Valuables
- Antiques
- Glassware
- Sport Memorabilia
- Collectables
- Fine art
- Medications
- Heirlooms
- Perishable goods
It is advised
that you should manage and pack these products on your own and carry them with
you alone to avert unexpected damages.
Types of transit insurance:
Relocation
companies in India provide you two kind of insurance while shifting household
appliances and goods.
- Transit insurance
- All-inclusive insurance
Moving insurance:
Transit
insurance provides protection for your goods from causing any damage during transportation.
Any type of damage which causes after or before the moving process, won’t be
covered. When any damage occurs while loading and unloading process, you will
not get compensated for that.
It is possible
for you to take the transit insurance from general insurance companies or
through relocation companies that you have hired. Do not forget to collect
insurance certificate and original bills from the insurance providers, when
your packer is purchasing insurance on your behalf.
All-inclusive transit insurance
This
insurance covers the damage caused even during the complete packing and moving
task. When any damage occurs during loading or unloading task during the
relocation, you can claim for insurance. It is provided by professional moving
companies, but you should be sure regarding the credibility and reliability of
the mover.
People
normally feel like taking all-inclusive insurance, but it would be no use to
you, particularly if you don’t know the terms and conditions for making claims.
It is good to be alert and verify their insurance rules
before purchasing the all-inclusive moving insurance.
Types of protection:
Moving
companies in India provide two types protection
Transit
insurance will cover insurance for cash settlement for whole household
belongings which are insurable.
- Released Value Protection:
Moving
insurance can be applied only for those goods you want, and it is also called
as custom insurance. For instance, when you need relocation insurance only for
your home electronics, you can avail it.
Here, you
should declare the goods that require to be insured during your shift.
Relocation companies will analyze your declared goods and state the actual
value of your goods.
Significance of transit insurance in India
- Transit insurance can be availed
normally to secure your belongings from any damage or loss during a relocation.
- When executing a move, your moving
company should create a packing list and declare the proper value of products.
According to the total value of products, you can claim for insurance.
- Moving insurance is good, but you
should understand what type of damage or loss is covered and not covered.
- When you hire movers, ensure that you
ask and understand the whole process of making claims and other things you want
to know regarding the insurance.
- As various moving companies might have
different terms and conditions, try to understand them better in advance.
- You cannot claim your insurance if the
staff people of the relocation company you have hired have stolen your goods.
- Few factors that may not be covered such
as are infestation,
mishandling, unprofessional packing, employee dishonesty. So, kindly check the
rules for making claims.
- Never let transport unless the moving
insurance is in place
- Verify the copies and relevant
document to declare the insurance that has been brought and your items are
insured for damage while in transit.
- Getting good understanding of the
conditions of claiming will help you to relocate forward.
The documents
needed to file a claim for moving insurance policy are bill of lading, packing
list, transportation specification, claim bill and original invoice. Therefore,
moving insurance is cheap and it does not cost you more. When anything wrong
happens during your moving, transit insurance can aid you a lot more.