Protect Your Belongings: Smart Moving Insurance Advice

Should you stick with basic protection or go for an all-risk insurance policy? What should you watch for in the fine print? This all-inclusive moving insurance guide will help you answer these questions and help you get the most out of your coverage.

Types of moving insurance

A reputable mover should be able to offer you two main types of insurance:

Basic Liability Coverage: A minimal option that compensates a set amount per kilogram of your shipment rather than the actual value of the items that have been damaged, lost or stolen.
All Risk insurance: Covers repair, replacement, or reimbursement for lost or damaged items based on their replacement value at destination and whatever the cause of the damages/lost during the move. You must request this type of cover specifically.

You should also be able to add these specialised coverages to your all-risk insurance for an additional premium:

Sets-and-Pairs Coverage: If one item in a set (e.g., dishes, glassware, or a multi-part coffee machine) is damaged, this policy replaces the entire set rather than just the damaged piece if the damaged piece can’t be replaced individually.
Electronic and Mechanical Damages Coverage: Electronic and mechanical equipment can sometimes fail after transit, even if no visible damage has occurred. This coverage ensures repair or replacement for items like appliances or computers affected during the move.
Mould and Mildew Coverage: Moves involving humid climates can expose belongings to moisture, potentially leading to mould damage. This coverage protects against such damage, especially for long transits or storage periods.

When selecting a mover, ask about the availability of these options and whether they align with your needs, especially for fragile or valuable items.

Understanding the extent of your coverage and any additional costs involved is essential to ensure you’re not left vulnerable in the unlikely event of an issue.

How should I value my goods?

Valuing your goods and creating an inventory list of the items you are moving is an important step to ensuring your goods are properly covered.

Every item you intend to move should be listed

Most moving companies require that every item you’re moving be noted on an inventory for tracking and insurance purposes. When compiling your list, be sure to list the quantity and value of each item and give as much detail as possible. Your insurance premium will be calculated on the entire value of your goods.

Value your goods according to their replacement price at destination

You need to insure your effects for what it would cost to replace them in the country you are moving to, not the country you’re moving from. To do this, research the cost of living in your destination country, using the prices listed in local online stores as your guide.

Do not undervalue your shipment

Although it’s tempting to undervalue your goods to bring down insurance costs, if you do submit a claim, the insurers will only reimburse you according to the declared value on your inventory and the extent of the damage.
The onus is on you to ensure that your items are valued correctly. Undervaluing will result in insufficient compensation, and you might not be able to repair or replace the affected items as a result.

Declare your high value items

Ensure that you have as much written information about your high value items (more than 10,000 EUR) as possible. The underwriters of your moving company may require proof of ownership and/or value of such items. Make sure you also photograph them, print the photos in colour, and date and sign the prints before adding them to your inventory.

For works of art or antiques, your mover might propose additional insurance. For items of high value, you can never take too many precautions.

Important to note, if you claim for loss or damage to a vehicle, your payout will be calculated according to its depreciated value, in line with its age and mileage. You should declare the value of your vehicle as per its current market value.

Storage Coverage Extension

Some moving companies insure their clients’ goods from collection to delivery only. If you need comprehensive coverage for secure storage before or after transit, you may need a separate insurance coverage. Ensure that you make your needs clear to your movers.

Claiming from your insurance

How you file a claim will depend on your moving company’s insurance policy. There are some points you need should clarify beforehand, though:

The time allowed for you to notify your mover of any damage, from the day of delivery
Which information the claim should include and how it should be submitted
Any other information/paperwork that will be required

Main Exclusions

Removals companies do not offer insurance coverage for certain risks. These include:

Consequential losses (loss of income) arising from the delay in delivery of certain items.
Loss of value or depreciation in value due to damage and/or repair.
Owner-packed cartons. Moving boxes that you pack and seal yourself (without letting the mover inspect the contents first) are classified as “Packed by Owner” (abbreviated PBO). Your moving company is unlikely to cover loss of or damage to items in owner-packed boxes because they have no way of knowing that all the proper safety precautions were taken during the packing process. For this reason, it’s best to leave your boxes open, or better yet, let your moving company pack your belongings for you.

Take charge of your move

By exploring your coverage options, you can ensure your belongings are properly protected. The effort you invest now in choosing the right insurance will pay off with the peace of mind that comes from knowing you’re prepared for the unexpected. A little preparation today can make a big difference tomorrow, so take the first step toward a smooth, worry-free transition.

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How to unlock the full benefit of your moving insurance