Types Of Moving Insurance Offered By Movers & Packers

By Author: Safemove Packers
Total Articles: 10
Comment this article

Relocating to a different place is not a cakewalk! It is the most challenging and stressful situation as you need to think about every aspect. Shifting can damage your precious luggage, and you need to think about it to avoid such accidents. Look for professional packers and movers in Pune who provide insurance services to get the desired compensation in case of any loss.

Let's know more about moving insurance!
You might be aware of the home insurance, but such insurance is never compensated if the damage happens while shifting. But you can safeguard your belongings through moving insurance, as the best packers and movers in Pune provide such insurance to their clients. Even if you carry some of your household stuff on your vehicle, your vehicle insurance will never compensate for the belongings. Hence it's a wise idea to go with moving insurance.

Moving insurance is a policy that takes care of all your belongings while moving them from one place to another via rail, road, or air. It covers the damage caused because of unfortunate ...
... perils or any other factors like accidents, robbery, earthquake, fire, etc. You can either avail of this moving insurance policy through general insurance providers or hire packers and movers in Pune to keep your belongings safe. Ensure to read all the documents carefully to know which items are covered in the insurance and which are not covered.

Types of moving insurance
Usually, professional transportation companies provide two types of moving insurance to their clients.

Transit Insurance
All-inclusive insurance

Transit Insurance
This insurance is the most basic one provided by many packers and movers in Pune. As per the name, such insurance covers the belongings damaged while moving. However, remember that transit insurance will not compensate if the damage happens before or after transportation. So, if any of your fragile items are damaged during loading, unloading, or packing, then you will not get any compensation for the same.

The transit insurance covers all the risk factors like fire, earthquake, accidents, robbery, collision, explosion, robbery, etc. But customers can claim compensation only if anything happens while transportation. Getting transit insurance is easy; you can either buy it from the general insurance company, or most transportation vendors provide all such facilities so that you can talk with them about it.

If your packers and movers are giving you this service, don't forget to get the original insurance certificate and bills from them. However, if you are purchasing this insurance on your own, you can easily get all such documents online and pay the premium online.

All-inclusive insurance
If you are not ready to bear any damage, it's better to go with all-inclusive insurance. In this, you can claim the damage caused during the entire shifting process, which includes packing, loading, unloading, and transportation.

This insurance may take a good amount from your pocket. The company needs to do cash settlement for the lost or damaged items in case of damage. The company can take 3% of declared value as a fee for all-inclusive insurance. Many packers and movers companies offer this insurance; hence you can also inquire about this with them. Check the company's reputation in the market so that you will not be cheated under the name of all-inclusive insurance.

Also, you should take a look at all the required documents before finalizing the company. Then, go through the terms and conditions of the insurance and ask for the bill.

Full value vs. declared value protection

Full value protection:

All your household items will be insured in this insurance policy, and you can get a replacement, repair, or cash for the damaged items.

Declared Value Protection:

In this insurance policy, you will get compensation for only those items you opt for while buying the policy. For instance, if you want to protect only your home appliances, you can do the same. You need to declare the items which you want to insure while moving. In this policy, you will not get any compensation for the damage of any other items you haven't declared earlier.

Cost of moving insurance in India
Many customers have confusion regarding the insurance charges, and most of them believe that they are heavily charged by the packers and movers company. So what should be the rates of moving insurance? Let's know about it in detail.

The rates depend on the type of insurance, i.e., whether you opt for transit or all-inclusive insurance.

In the case of transit insurance, you need to pay the rate of 1.5 extra charges as an insurance fee. There are companies which may charge 2% extra, but it all depends on you. If you think the charges are high, you can buy your own moving insurance online.

In the case of all-inclusive moving insurance, customers need to pay 3% extra for the insurance fee. But in this insurance, you will get the complete coverage of belongings as mentioned above. Whether you want to go with transit or all-inclusive insurance, you must declare your belongings to the vendor before transportation.

Document required filing the insurance policy.
As per the condition, your insurer may ask for the below documents:

Lading Bill
List of belongings
Transportation specification
Claim Bill
Original voice.
Key points to remember
Inquire about the different insurance options available with your transportation vendor.
Ask the company whether insurance is also available for the items you pack or for only those items they pack.
Ask your vendor about the contact person you may need in case of any damage.
If you want to buy all-inclusive insurance, check the company's credibility by checking their license and other documents.
Read the terms of the insurance policy carefully.
Final Words
Hope you have got a lot of information about insurance policy in this blog. It is always recommended to go with insurance to minimize the risk of loss. Start looking for the best packers and movers in Pune to avoid last moment hassle.