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Insurance Tips

Intime Freight & Cargo Services Ltd has compiled a list of tips to help you best insure your personal effects during the move.

  • How should I value my Goods?
  • How to insure my Vehicle?
  • Storage Coverage Extension.
  • What to do in the Event of a Claim
  • Main Exclusions.

Valuing your goods and completing your inventory is an important step of your move, ensuring your goods are well covered:

  • Every item you intend to move should be covered.
  • Purchase value of goods.
  • Do not undervalue your shipment.
  • Provide us much detail as possible.
  • Declare your high value items.

Every item you intend to move should be covered.

Moving companies, in general, require that each item appears on the inventory list in order to be insured. Note that insurers usually calculate their risk and premiums based on the entire value of the goods moved by their entire clients

Purchase value of the goods at destination.

Remember to value and insure your effect at the replacement value at destination i.e. what it would cost to replace the item in the country you are moving to. If required, you will have to repair or replace the item in your new country. We strongly recommend that you research the cost of living in your country of destination, using travel guides or websites.

Do not undervalue your shipment.

Your insurer will refund you according to the value of the shipment/item. For this reason, we recommend that you do not undervalue your shipment. If you have to submit a claim, insurers will only reimburse you according to the declared value on your inventory and the proportion of the damage. Undervaluing your goods will result in insufficient compensation to cover the cost of repair or replacement of these items.

Provide as much details as possible.

The inventory is usually used by moving companies to list items to be moved and insured. List each item as well as their quantity and price.

Declare your high value items.

Ensure that you have as much written information about your high value items (items valued at USD 25,000 or move for instance) as possible.

The underwriters of your moving company may require proof of ownership and/ or value of such items. Make sure you photograph these items, print them in colour, date and sign the prints and add them to your inventory. For items of high value, you can never take too many precautions.

Incase of damage too loss of vehicles, insurers usually apply a reduction to the amount paid out, calculated according to the age and mileage of the vehicles.

The coverage will be outlined by your removal company. Some removal companies insure their clients’ goods from collection to delivery whilst others only insure goods while in storage. If you need coverage for long-term storage before or after transit, you may need a separate insurance. Ensure that you establish the insurance policy of your specific movers.

Again, this will depend on the insurance policy of the chosen removals company. Ensure that you know what the procedure is in the event of a claim for goods that have been lost or damaged in transit. Here are some points that you will need to clarify with your moving company.

  • The required notice period to the removals company from the date of delivery.
  • The information that you need to provide when giving notice.
  • When you need to make your claim, what it must include and how it should be notified (i.e. registered mail, e-mail, normal mail)
  • Any other information/paperwork that will be required.

Removal companies do not usually cover goods which fall under the following risk criteria;

Consequential Loss

Consequential losses (i.e. resulting losses) arising from the delay in delivery may not be covered, and loss of value and depreciation due to damage and /or after repair may be excluded from cover. Ensure that you clarify this with your removals company.

Owner packed goods

Items packed by the owner without inspection by the mover before the carton/box is sealed are classified as “packed by owner” (abbreviated as U20 or PB0). Movers usually exclude cover to items which are damaged or lost in Owner- Packed cartons. If you wish to be covered, allow your removals company to pack or repack all items.

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