Insurance

Moving homes can be very stressful. By providing you with the right insurance for your household goods, we eliminate your moving stress so you do not have to worry about the safety of your personal belongings. With our moving insurance options you can protect your goods against single item damage or loss as well as against an unfortunate occurrence. You can focus on your moving needs knowing that your belongings are safe, secure and insured.

You can find the most reputable insurers for your move as well as for your vehicle and house. The insurance company we work with has the most popular insurance packages in their portfolios, such as Travel Insurance, Life Insurance, Health Insurance, Mortgage Insurance and a variety of other business related insurance packages.

We provide 2 types of insurances for our customers; Total Loss and All Risks. Please see below to find out more information about these 2 types of insurances; costs, inclusions and exclusions.

A) Total Loss 1.5% of value to be insured

1. Actual Total Loss:Total loss of an entire vessel or an entire cargo shipment when the property is completely lost or destroyed due to one of the following:

Physical Destruction: e.g. fire, explosion, sinking, collision etc.

Irretrievable Deprivement: The insured is deprived of the use of his property even though it is still intact and undamaged; e.g. a shipment of silver ingots is lost overboard; even though they still exist and are undamaged at the bottom of the ocean, they are irretrievably lost.

Loss of Specie: Changes in the character of the property so that it ceases to be the item shipped; e.g. bags of cement wetted by sea water and hardened into concrete.

Vessel Lost:: A vessel (and its cargo) is posted “missing” and is considered an actual total loss, even though there is no evidence of it sinking.

2.  Constructive Total Loss: A vessel or cargo is so damaged that an actual total loss is inevitable, or the part remaining can only be recovered and repaired at a cost exceeding the insured value of the property.

3.   Compromised (or Arranged) Total Loss: A negotiated total loss settlement between the property owner and the insurance company under unusual circumstances, e.g. a vessel owner accepts a settlement of less than the face value of the hull policy and retains title to the vessel.

 

B) All Risks* 2.5% of value to be insured, with a $500.00 deductible

Broadest from of insurance coverage available; providing protection against all perils of   physical loss or damage from an external cause. Loss must be fortuitous, i.e. accidental, to be covered. All risks does not cover inevitable loss, wear and tear, atmospheric or climatic conditions, delay, inherent vice, pre-shipment condition, inadequate packaging, or loss of market.

*All consignments must be professionally packed by Export Depot and subject to customary and adequate packing for the respective item and entered on the mover’s packing list. *  

CONDITIONS

  1. It is a condition of this Insurance that in the event of total loss or damage, the maximum liability of the Insurer shall be the replacement value of the item or of a comparable item in the condition at the time of loss or damage, not exceeding the insured value of said item.
  2.  Any electrical items, appliances or other valuable items not declared on the Customs Entry cannot be claimed, nor alleged to have been lost or damaged.
  3. Pianos, organs and musical instruments must be professionally packed and individually crated, in order to be insured.
  4. Pairs and Sets Clause: Where any insured item consists in a pair or a set including crockery, dishes, glassware or furniture sets, the Certificate shall not pay more than the proportionate value of any particular parts which may be lost or damaged without reference to any special value which such article or articles may have as part of such pair or set.
  5.  In case of missing items, the Assured has to provide the Insurer satisfactory evidence for such missing item.
  6. The actual value and the limit of the amount recoverable in respect of any item lost or damaged must be proved by the Assured to the Insurer- the maximum amount recoverable being the sum insured or the replacement value at destination, which is the lowest.
  7. In case of claim for damage or shortage, the Assured has to prove that the loss occurred during the transit. Such losses are covered only if there will be signs on the external packing.
  8. Maximum liability of insurers in respect of fragile goods is not to comprise more than 10% of the total value of the shipment.

 

EXCLUSIONS

  1.  Loss or damage caused by gradual deterioration, wear and tear, atmospheric or climatic conditions, inherent vice, electrical, electronic and mechanical derangement.
  2. Depreciation arising from inadequate or substandard repairs or restoration of a damaged item.
  3. Loss or damage directly or indirectly caused by earthquake, volcanic eruptions and other cataclysms when on land.
  4. Loss or damage due to mysterious disappearance and/or unexplained shortage
  5. Loss or damage by or during any inspection of the Insured property by any authority unless the assured or his representative were present during the inspection from the time the container/ package was opened until it was closed and sealed after such inspection.