Moving Insurance, How to Go about It
Moving insurance is essential in protecting items in transit from
any damage that might befall them. It is important for you to get
moving insurance since it will be able to mitigate incase of any
loss or damage of goods while on the move. The following are some of
the important facts that you should know about moving insurance in
order for you to file for it.
While moving, most moving companies will provide valuation of the
goods and not the actual moving insurance. It is however good for
you to know about the different types of valuations that are used to
determine the premium you are going to pay for getting the moving
insurance. There are three types of valuations which are the
declared value which is based on the total weight of the item
multiplied by a specific amount. There is also the lump some value
which based on the value of the items and not the weight. The third
type of valuation is the full value protection which compensates for
all damage and loss claims through repair or replacement.
The valuation is done by the moving company for several reasons one
of which is to determine the type and size of liability that the
moving insurance company is supposed to pay in case of damage or
loss. Also the moving insurance company is able to determine whether
they have an outstanding claim or complaints from its clients. The
moving insurance company is also able to establish the maximum value
that they are to pay ion case the goods are damaged or lost during
the move. Also the valuation exercise is able to help the moving
insurance company to estimate the amount of premium that they are
going to require from you in order to cover your goods.
Before you engage the services of a moving insurance company, you
should be able to keep record of the contract as well as the goods
themselves in order for you to be assured of a successful claim in
case of damage. You should store records of the weight and size of
your goods after placing them on the moving boxes. The quality and
any defects on the goods should be recorded so as to be able to
verify claims of damage against the moving insurance company. Photos
of each piece of the items should also be taken, pointing to details
of the inventory. The records should be placed in a secure place
where you will be able to get them in case there is a dispute with
the moving insurance company about the damage inflicted on your
goods.
In case there is damage or loss of the goods in transit, you should
know the procedures to take in order to get your compensation from
the moving insurance company. In case you are able to spot damage on
your goods, a claim should be made within 9 months after delivery of
the goods. You should be in a position to produce your copy of the
contract agreement with the moving insurance as well as the record
of the condition of the goods before and after transit.
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