What transit insurance covers
Moving house can be one of the most stressful experiences you will ever go through, and one of the major concerns among movers is that their property will be lost or damaged in tansit. Taking out a transit insurance policy can alleviate some of this worry. Read on to find out what these policies cover.
Transit insurance is a form of insurance protecting your home contents and possessions while they are being transported to your new home. This includes both destinations within the UK and overseas. Most policies also cover belongings while they are in storage if this is part of the transport process (although check the fine print to see if there is a specified time limit for stored items).
What is covered?
Transit insurance covers personal possessions and belongings while they are in transit. This includes cover for loss or damage caused by accidents in transit or mishandling by removalists. Cover for incidental storage and for alternative accommodation expenses is also included. Most policies also provide new for old replacement for damaged and lost goods. There is also worldwide coverage available with specialist insurers. Some policies offer cover for longer term storage as an optional extra.
Types of transit insurance
Specified items in transit insurance covers specific items that are being moved. For example, marine transit insurance covers your belongings when they are being transported by sea. Carriers liability insurance covers removalists for items they are transporting that are damaged when it is their fault. If you require specialist cover, contact a major insurer and see if they can make you a policy offer.
As is the case with many insurance products, transit insurance premiums can vary considerably among insurers - as can the details over what is and isn't included in the policy. Because of this it often pays to shop around and compare the rates that are being charged and the terms offered.