International Removals Insurance

Added Peace of Mind

Whether moving abroad or within the UK, the next consideration is to decide what kind of replacement is desired for items which are harmed or misplaced. “Like-for-like” (reinstatement) simply means that in any claim, wear and tear will be taken into account with its reclaim value based upon the items second-hand market value, which could be negligible. “New for old” (replacement) is for the cost of replacing as a new item without reduction for depreciation on the vast majority of items.

There can be multiple exclusions to a policy including a financial limit for the total valuation, or the percentage of breakable content that is allowable. Ensure that you take note of all such exclusions when choosing the right policy for you. Also make certain that in the instance of absolute loss the maximum limit of the policy covers the total value of the goods. This means that if all of your belongings were destroyed by an accident en route, possibly in store, you would be able to at least claim for the complete value.

Insurance When Moving Abroad

When moving abroad, it is best to choose a policy based on a detailed, valued inventory. This can be perceived as an onerous task and a more expensive service, however it is specifically tailored to the individual needs of clients and guarantees better protection in the event of a mishap. The insurance company will charge its premium based on a set rate or at a percentage of the inventory value. This more thorough approach is recommended for those with items which are particularly financially and personally valuable. A bonus is that the pre-prepared detailed inventory often avoids arguments should a claim be necessary and can then be used in negotiations for domestic household insurance in your new country.

Some movers can expand the inventory service to the extent of photographing items of value such as antiques and family heirlooms. It may be the case that a removals company in any case requires a detailed list of fragile and/or high valued belongings in advance of the moving process. To fail to provide such a list may result in a reduced payment in the event of a claim.

The inventory valuation should match directly to the actual values of the pieces included in a shipment to avoid the insurers ‘condition of average’ which reduces claims by the percentage under insured.