Accidents happen all the time, no matter whether you use a highly recommended removals firm or not; so where ever you are moving to, insurance is a necessity. During transit there is always the chance of a box being dropped or something breaking, no matter how well the items are packed there is no guarantee they will not be broken. What is imperative is how that damage is dealt with, how the removals firm handle the claim and that the item is covered. Replacing the item, or giving you the money to replace it, Insurance compensation gives you the piece of mind should an accident occur.
What Types of Insurance are Out There?
1. Each removals firm, by law, has to include 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. Under normal circumstances only 60% of the value of the item is covered with this type of insurance. There are some companies which will pay you for the total box weight in which the item damaged was in. However, if you happened to pack the box yourself, you would get nothing as owner-packed cartons are usually not insured. As we can witness, this sort of insurance is normally not enough to actually cover the losses.
2. Added Value Protection Cover, is a little bit extra coverage offered by removal firms, which gives a slightly larger return on damages. This can be a alterable amount but is normally set at $2. When you need insurance cover you can arrange the amounts direct with your removals office. Although this scheme is better, the payments are still made on the weight of your things, which doesn’t help if you have light but expensive articles.
3. Market Value or Depreciated Value Policies. For this coverage, the market value of the items lost or damaged is used to compensate the customer. There is still a disadvantage to this type of plan as you would need to go through every item you possess, find the price of each item, then declare it to the removal firm and/or insurer before you move. Not many people use this type of plan nowadays and instead have opted for the more popular Replacement Value Plan.
4. Replacement Value schemes are often called the ‘Like for Like’ or even the ‘New for Old’ insurance. This type of plan 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.
Non-insurable Goods
No matter what coverage you paid for, some items will not be covered. Keep these items with you, rather than place them in the removals van. Financial papers, jewelry and photographs are the types of objects not covered in these schemes. Items that show no outward sign of damage such as TVs and computers would not be covered unless you can show carelessness by the removal business. If you are moving fine art, valuable musical instruments or antiques, you should think about special measures to assure their safety and protect against their loss or damage such as having the piece wrapped and crated for maximum protection.
As with all aspects of moving, make a list! - This time an Inventory File.
It is strongly recommended to take a complete inventory of your belongings before you move. Make sure the list is complete and includes things like market price, price and condition. Photos of your belongings, at least the valuable ones, are a good idea and should be kept with the inventory list. If the items are damaged or lost then you will grateful for the work it took to do them. To avoid having to pay extra tax on your possessions, this list is wanted when you are moving abroad.
To End, Here are a Couple Further Helpful Suggestions
1 Always read the fine print in your contract, it may include loopholes and exclusions which can give you a great deal of distress should your belongings be damaged or lost. 2 Ask questions about the contract if you are unsure about anything. 3 Check the policy details when you are moving overseas to make sure your belongings are covered until they reach your new home. 4 Keep with you a photocopy of your inventory list on you during travelling. 5 Your removals firm may damage your property when taking out or putting in your items, so check to see if this damage is covered.
Canada Moving Handbook Created by Jay Banks, Condominiums in Vancouver professional.
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