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International moving home insurance - why do you need it?
Moving abroad opens a world of opportunities, whether it’s for expanding career opportunities, reconnecting with relatives or exploring new cultures. There are also risks though – and the process of moving home is one of them. During the relocation you will be packing up all your belongings and sending them to another country. It’s a long journey from door to door and even with the most meticulous planning and the best international moving company, things do sometimes go wrong.
What is international moving insurance?
International moving insurance, shipment protection cover, freight insurance – these essentially add up to the same thing: protecting your possessions while they are making the journey from your old home to your new one.
It’s useful to think of it in a similar way to your home contents insurance. If you had a house fire and everything you owned was destroyed, the cost of replacing it would be substantial. The same applies to the container that your belongings are travelling in. If something happens then you will be able to replace things that you need to live your daily life.
Things sometimes do go wrong
There is an important difference between insuring your home and insuring your possessions during relocation, which is that there are more risks to travelling than staying still. International shipping is generally reliable but on rare occasions things do happen: container ships can be hijacked, or catch fire, or even sink in rough weather. In freight terminals, containers may not always be treated gently.
Extremes of temperature can also play their part. If you’re moving to another continent where the climate is much warmer – or colder – then the temperature changes can affect items adversely. Mould and mildew is a particular risk during long journeys during hot, wet weather – that’s why a good international removals firm will take precautions when packing.
Electrical equipment can be particularly delicate and a stereo system that worked at one end might not do so at the other, without any sign of damage.
And there are also some precious items which cannot be replaced easily because they are part of a set. A pair of delicate wine glasses may lose their value almost entirely if one is broken, even if it is wrapped perfectly.
Benefits of having international insurance
By choosing a policy that gives you international moving insurance coverage, you can have a remedy for the things that do go wrong. If a computer or TV or sound system doesn’t work when it’s unpacked, this is covered by “Electrical and Mechanical Derangement” clauses. If conditions in the container turn clothes or furnishings mouldy, this is covered under “Mould and Mildew”. And those ornamental items which gain their value from being part of a set are covered under “Pairs and Sets” clauses.
It’s important not to either under-insure or over-insure. Over-insuring is wasted money because insurers will only pay out for the value of the item after it’s been assessed. Under-insuring leaves you open to paying a significant portion of the replacement cost. While high value items need to be listed and given an estimated cost, household possessions are usually valued by cubic metre so this should not be a problem for most people.
Anyone travelling to a new country who is bringing their belongings with them should protect themselves against the risks of shipping their goods long distances. Santa Fe offers holistic All Risk Protection Coverage that will insure your household goods from door-to-door whether you’re moving by land, see or air. To find out more, including full details of coverage, go to our Enrolment Form.