Things you should know before buying Overseas Removal Insurance
Embarking on a move abroad is an exciting event. Whether you’ve landed your dream job and are heading over for a solo adventure, or packing up your home and taking your whole family, there’s no doubt that moving abroad is an amazing experience.
Having said this, the logistics of such a decision can be extremely complex. As well as sorting out your new job requirements, your visa, travel plans and unravelling yourself from your old life, you’ll also need to consider how to transport your favourite possessions over to your new location.
After all, unless you’re happy to put everything in storage, such as your TV and your favourite pieces of dining furniture, you’ll need to hire some kind of removals service to help you get your possessions to your new home. And while you do this, you must make sure your items are completely protected from unforeseen circumstances through overseas removal insurance!
Why Do I Need Overseas Removal Insurance?
If you’ve decided to take your items with you on your voyage abroad, they must be special to you. Or at least, they must have strong sentimental value if you can’t easily leave them at home. The first reason you need overseas removal insurance is to protect these precious items. And even if they get lost or damaged, it’s an easier blow to take if you receive compensation for your loss.
While it is unlikely that your property will be destroyed as a result of some kind of unfortunate shipping incident, everything comes with a certain amount of risk. And it’s often smaller actions like human error that will seriously inconvenience your removal process. As such, having cover in place lets you focus on the core aspects of your relocation and stop worrying about the chance of your property becoming lost or damaged.
Types of Overseas Removal Insurance
Below are the different types of international removals insurance that might apply to your circumstance:
- All-Risk – covers all your goods from potential loss and damage
- Named Perils – covers specific possessions
- Warehouse-to-Warehouse – covers the period between warehouse drop off and pick up (at your new location)
- Total Loss – when an entire vessel and its cargo is lost
- General Average Cover – covers you if any cargo on the ship other than your own is lost and you are required to pay for joint costs of the loss
The true motivation behind taking out overseas removal insurance is risk limitation. When you consider the total amount of risk you expose yourself to when moving abroad, it can be quite overwhelming.
For example, the health and safety of your family in a new environment (especially one where you don’t speak the language) is always an issue. If, for whatever reason, you have to pay any medical bills during your move, you don’t want to be forking out money for a whole new furniture set for your new home at the same time. Or perhaps school fees for your kids is something you’ll need to pay upfront? Juggling several substantial costs at the same time can put your financial resources under too much pressure.
In the end, international shipping insurance is a small expense to protect against the possibility that you could lose everything and have to pay for it all again. Moving abroad is tough enough, so there’s no reason for you to add to the stress by risking everything with no insurance coverage.
Tops Tips and Best Practices
- Decide carefully which items you will be taking to limit your overall costs and exposure to damage or loss
- Plan for the future and take items that will be hard to get in your new country
- Store priceless possessions in your home country if you plan to return one day, this will be safer than transporting them thousands of miles away (paintings, family heirlooms etc.)
- Donate items you don’t need to friends, family and charities, rather than taking unnecessary extras with you to your new life
Where Can I get Overseas Removal Insurance?
Most international removals companies will offer additional cover as part of their services. This might come at a discount if you are using their removals and storage services, for example.
While this can be convenient, there’s no guarantee this is the best value for money, or whether the coverage will be sufficient enough to cover your possessions’ total value. At The Insurance Broker, we make sure we offer you policies that are competitively priced as well as provide the highest levels of cover to suit your needs.
For a quote, consultation or just some advice, get in touch with one of our team who will happily walk you through the steps needed for taking out overseas removals insurance.