Moving from one home to another isn’t an easy task with just five fingers. It could be among the most difficult and stressful moments that you’ll ever experience. There is the possibility of damage to your precious items during shifting or moving.

Transit Insurance in India, if provided by a professional packing and moving company in India could be the best solution to protect your belongings from potential risks.

A Guide to Transit Insurance in India

It is the ideal option to choose one of the experienced and insured packings and moving companies in order for a seamless and safe moving experience. If you hire professional moving and packing service from one of the top and reputable companies, there is fewer chances of sustaining damage to your belongings.

Because movers and packers provide transit insurance, you don’t have to worry about losing. You are able to claim insurance in the event that your items were damaged during transport or during the moving process.

The cost of insurance for moving when shifting from one place to the next will cost you an enormous amount. The price of transit insurance can range between 1.5 percent to 3.3%. It is worth it if you want to take no risk of damage to your possessions that are moving by professional movers and packers in India.

It is vital to have proper insurance for moving, especially if you are doing an intercity or long-distance home move. However, you should consider transit insurance is essential if you have to pay the cost of insurance in India.

I’ve met one person who relocated to a new location without the benefit of transit insurance in India. Luckily, he did not suffer any damage. However, what if he suffered damage to their possessions? Who could he hold accountable for the damage?

I’ve also seen situations where clients complain that they didn’t have legitimate transit insurance, even after paying the cost of transit insurance. There was not much that could be adequately protected by insurance. So, understanding the concept of transit insurance is essential.

Insurance for moving can be the most effective method to safeguard your belongings while they are handled by professionals moving and packing in India. Damages that are unavoidable can occur through human mistakes or natural catastrophes.

However, if you’ve taken advantage of an insurance policy that is valid covering your household possessions and you are eligible for compensation for any damage, if any you have, from the transit insurance company in India.

Don’t be tempted to risk only a few rupees. Take advantage of valid moving insurance and relocate to your new residence without anxiety and stress.

Let’s find out what we can about transit insurance is, the different types of insurance for moving, the price of transit insurance, and other pertinent information regarding the insurance for relocation.

What is the term “transit insurance”?

You’ve heard of home insurance, but it does not provide coverage for damage or loss to your possessions during the process of transport. However, you can have your belongings safe during transport through the use of an insurance policy for moving as well as transportation (transport) assurance from one of the moving and packing companies in India.

If you’re moving the household goods to a new residence by using your vehicle or even your insurance will not be able to cover your possessions. You don’t have to be concerned in the least. You can put your possessions that are valuable in danger by obtaining a transit insurance policy.

Transit Insurance is the type of policy that covers the risk for commercial as well as personal products when they are moved from one location to another via a particular type of transportation like rail, road, or air. It protects against damage to goods caused by unexpected perils or natural catastrophes like fire, accidents explosions, earthquakes, and theft.

The transit insurance for moving can be purchased through general insurance companies or through hired moving and packing companies or packers. Certain things are not covered under the policy of insurance for moving.

As a responsible person, you should buy transit insurance for your move as you are concerned about your possessions. It is important to review the policy’s terms and conditions before purchasing it. This will let you know which items are insured and which aren’t covered by the policy.

Some items cannot be covered during transit

• Valuables
• Cash
• Jewelry
• Medications
• Heirlooms
• Fine art
• Collectibles
• Sport memorabilia
• Documents
• Glassware
• Antiques
• Perishable products

It is advised to take care of the items yourself. The best way to store these items is on your own and take them around to prevent any damage.

• General insurable items
• Furniture
• Electrical equipment
• Appliances for the home
• Kitchen Appliances
• Garden equipment

A few factors influence the premiums for insurance

• The nature of the items
• The age of the item
• The true value of items
• The distance to be traveled
• The claim history, if there is one

What kinds of insurance for moving are offered by the packers and movers in India?

In general speaking, there are two primary types of insurance for moving that are offered to professional packing and moving company in India. Any company that offers moving services should offer two different types of insurance for their clients for long-distance or intercity home shifting.

The majority of packers and movers in India will provide two options to pick from.

• Transit Insurance
• All-inclusive insurance
• Moving insurance

Transit insurance can be the most fundamental insurance option that the majority of Indian moving companies and packers provide. As the name implies, this type of insurance covers the damage that occurs during transportation. In this case, for instance, if items are damaged in transit then they will be covered under the insurance for transit.

Remember that transit insurance cannot compensate you for the loss when your possessions are damaged during or following transport. For instance, if your items get damaged during loading, packing, or unloading, they will not receive compensation even if had access to the right insurance for transit.

The insurance policy for transit offers protection for household goods against damage to items that are a result of explosions, fire, earthquake and accidents, collisions, or robbery. However, you are able to claim the coverage only in the event that damages occur within the transportation process only.

Today, obtaining insurance for transit has become straightforward. It is available through the general insurance companies or from the packers and movers you’ve hired, or even from the company you relocate.

If your movers and packers are purchasing transportation insurance in your name, be sure to get the original insurance certificates and invoices from insurance companies. If you’re looking to buy transit insurance in India on your own, then you are able to purchase the same insurance online and pay for the cost online, too.

Transit Insurance buying websites that are popular in India

• Policybazaar.com
• Coverfox.com

You can take advantage of the transit insurance for an amount that is not too high, i.e. 1.5% of the value declared for items.

All-inclusive insurance

If you don’t wish to be in the position of having to deal with any damage to a single item during the course of your move, it is suggested to think about purchasing an insurance policy that covers everything. With this policy, you can claim protection against damage throughout the shifting process that includes the packing, loading, transportation, and unloading.

However, all-inclusive coverage can be costly. It is a further cost since packers and movers are required to repair or an amount of cash in the event of damaged or lost objects. Moving companies can charge 3% of the worth as an inclusive fee for insurance.

Most of the time the all-inclusive package is only offered by professional packers and moving companies. Therefore, you should verify that your business is insured. Examine their credibility and reputation to ensure that you won’t be swayed by the claims of all-inclusive insurance for moving.

Additionally, you should check the validity of insurance documents prior to signing the all-inclusive transit insurance plan. It is important to read the terms and conditions carefully and request an original invoice for the identical. All-inclusive transit insurance in India can be purchased at 3% of the costs declared for the value of items.

What is the cost of transit insurance to India?

There is a lot of confusion among consumers about what exactly the insurance costs are charged to professional packers and mover company in India. Most customers complain about being priced in the name of insurance protection. Customers are the same insurance rates, such as 1.5% or 2%, 3%, and much more.

What are the best cost for insurance coverage provided for packers and moving companies in India?

It all depends on the type of insurance that you’d like to purchase. I’ve already talked about the various types of transit insurance i.e. transit insurance as well as all-inclusive.

If you buy transit insurance, then you’ll be charged the rate of 1.5 additional costs as an insurance charge. Some companies may request an additional amount of 2% for transit insurance. However, you shouldn’t agree to this cost. You can buy transit insurance on the internet at your own expense.

If you purchase an all-inclusive transit insurance through your movers, you’ll be required to pay an additional 3% cost as an insurance charge. In this case, you’ll get coverage for damage to objects throughout the entire moving process, not just during transportation.

Depending on whether you’re purchasing transit insurance or all-inclusive insurance, you’ll be required to declare the total worth of your possessions.

For instance, you would like to change the following items to different values.

• Washing Machine – Rs 27000
• Refrigerator – Rs 20000
• Air Conditioner – Rs 34000
• Microwave Oven – 12000
• Air Cooler – Rs 14000
• Sofa Set – Rs 45000
• Almirah – Rs 16000
• Geyser – Rs 8000

Therefore, the amount you must pay in charges for the use of the insurance for moving. Let’s look at the same in this particular scenario.

If you select transit insurance, then the rate of insurance will be @1.5% of the declared value plus taxes. If you opt for all-inclusive insurance, the insurance rate is 3.3%. The declared value plus taxes.

• The total value of the items that you want to move or insured is Rs 180000.
• Cost of transit insurance 1.5% = Rs 2700, plus applicable taxes
• The all-inclusive cost of insurance 3% = Rs 5400 plus applicable taxes

What are the documents required to submit a claim on the policy of insurance for transit?

Depending on the situation, the insurance company (insurer) might require these documents.

• Original voice
• Bill of Lading
• Packing list (inventory)
• Specification for transportation
• Claim bill

The most important points to be aware of

• Discuss with your movers the different options for insurance that they could offer.
• Be clear about the insurance policy. It’s only applicable to the items they pack as well as to the items you pack.
• Ask your movers about the person who will use to determine the value of damaged goods.
• Contact your movers to find out what rate they’ll offer to guarantee your move.
• Examine the contract thoroughly to determine if your moving company offers transportation insurance or all-inclusive insurance.
• If you are planning to purchase all-inclusive insurance, ensure that the company you hire to move is registered, licensed, and reliable.
• If your movers and packers are purchasing transportation insurance in your name, do not forget to get the insurance certificate and the original invoices from the insurance company.

Review the terms and conditions of your insurance policy attentively.

Disclaimer:- The opinions expressed above are for informational use only. The writer of this piece has conducted adequate research by examining various reports on industry and stories.

Moving Solutions does not guarantee the accuracy or completeness of the above information. We strongly recommend you purchase insurance for your transit by yourself to avoid additional charges.

If you purchase insurance to cover moving costs from an insurance company that is general in nature, the job of packers and movers is automatically over. Therefore, you should consider this article as a general guideline to move insurance.