How much do you think the contents of your house are worth?
Now, how aggravating would be if something happened to those contents while you’re relocating abroad?
That’s where household goods insurance comes in. There are different types, so it’s important to understand your options.
– All Risk is the most comprehensive, covering accidental damage or loss of any of your belongings in transit, for any reason.
– Total Loss covers only the complete loss of all belongings (for example due to flood, fire, or stolen truck). Partial loss is not covered.
– Named Perils insures your goods against certain named risks only, such as natural disasters, flood, or fire.
– Restricted Coverage provides the most basic insurance against only specific, transportation-related events.
All Risk is most common for international moves. Your employer may contract with an insurance provider. If not, shop around for different quotes.
A few Do’s and Don’ts when it comes to insurance:
– Understand what to include in your inventory, e.g. replacement value, serial numbers, detail of complete sets, etc.
– Keep a master list of your numbered boxes with the contents of each noted. Do not label boxes with their contents.
– Let movers do the packing; this is a precondition of full insurance coverage. Anything packed by the owner cannot be guaranteed safe from breakage.
-Don’t plan to ship hazardous or combustible liquids, or items like paint cans.
– Arrange to provide separate appraisals for high-value possessions, if required.
– Remember to make insurance arrangements for any items remaining at home, such as furniture or other goods in storage.
– Have someone on hand at the destination address to receive your shipment. Be sure all containers are accounted for and check, as soon as possible, for any damage so that a claim can be filed promptly.
See more discussion of international insurance in our International Relocation Center’s Relocation Essentials and find helpful insurance links in Reference Pro.
Written by Ellen Harris, GMS, Product Manager, Content Group
