What is transit insurance? It’s rare but a lot of things can go wrong on moving day. From breakables getting broken… to the truck getting in an accident, to the ship sinking in a storm, the odds of catastrophe are low, but there’s no guarantee everything will run perfectly. So it’s best to have a cushion in case things go wrong and that’s what moving insurance is. It is protection of your worldly belongings against unforeseen destructive forces during your international move.

Not all policies are created equally. In layman’s terms, all risks means you are covered against everything but in insurance company terms, all risks mean all risks except exclusions! Always look at the exclusions to avoid any surprises in the event of a claim.

Is storage included in my insurance? Whether your personal effects go directly into storage or your delivery is split with some items being delivered to your new home while others must remain in storage there is typically a certain number of days included in your transit insurance. Storage coverage can be extended for an additional premium provided it is stored in your movers and/or their agent’s commercial, enclosed warehouse but you must let the Insurance Company know so they can extend the policy.

Why do I need to put a value on my inventory? A detailed valued inventory is highly recommended. Claim settlement will be based upon the declared value specified on the declaration, or the cost of the replacement or repair. Watch for deductibles meaning the minimum amount you can claim for. Tell the insurer about any high value items that you may have.

Can I insure my auto? Yes! Automobiles, motorcycles and boats can be insured and must be specifically declared. Coverage is for actual cash value at destination. Condition reports of the vehicle(s) are required at origin and destination. The value of non-factory installed accessories (stereo systems, DVD players, GPS devices, etc.) must be listed separately.

What do I need to file a claim? Included in your transit package is “How to File a Claim.” The more accurate you are at the claim filing process the faster the claim will be settled. You will need a completed claim form, photos of the damaged items and any estimates to repair and/or replace the damaged items.

You cannot claim on an insurance policy if you sign the delivery paperwork saying that everything was received in good condition. On delivery day check off your packing list to make sure everything was delivered and sign you have received all items but they are not opened or inspected if not everything was unpacked at time of delivery.

Remember:Jewelry, cash, bonds, stocks, stamp or coin collections and furs are not covered by insurance companies. Mold, mildew, rust or mildew and normal wear and tear are normally not covered.

For more questions answered about Transit Insurance or any questions about worldwide moving, email The Moving Doctor at mark@eurousa.us.

Thanks to Wells Fargo, our transit insurance provider for helping us with this article.