The moving stress can be relieved to some extent through comprehensive
insurance for
household goods. These
insurance policies are, in fact, All Risk coverage policies. They assure the
full replacement value of the insured items. This coverage generally begins
with the
packing of goods and is valid for days
specified by the insurance companies which might be in the range of 60 to 90
days or more. Insurance can even be extended for shipment when it goes into
storage at origin or destination point.
Full Replacement Value on Valued Inventory
It is the most comprehensive insurance available provides the best
coverage. This insurance is mostly available for all types of relocations-
Long distance moving (Interstate
relocation),
Local moving (Intrastate
relocation) and
International
relocation. For proper coverage, the customer should list and declare
a replacement value on all of the items that he/she wish to insure. The
value assigned to the articles is the cost of replacement at the new
destination. It does not reduce the settlement amount for depreciation or a
co-insurance penalty. The only requirement is that any item that is wished
to be insured should be specifically declared and valued.
Full Replacement Value as Lump Sum
Generally, this insurance coverage is available for Interstate relocations
and International relocations only. The customer places a lump sum value on
all of his/her goods to be insured on whose basis the total coverage amount
is determined. However, the company restricts the customer by specifying
certain measure for valuing the goods. For example, an insurance company may
restrict the customers by placing the condition that the declared value of
the shipment equals no less than $5.00 times the weight of the shipment.
Many items that the customers think are liable to get specific replacement
value have to be individually valued. Such items that are individually
valued at a specific amount (say $500 or more, as decided by the company)
have to be listed separately so that they may be covered at their specific
replacement value.
