Insurance
INSURANCE
Insurance coverage is a must while sending household goods. In-spite of the best packing and safe transportation, factors beyond our control like accidents, fire, sabotage, natural calamities etc can result in damages to the goods. Hence we repeat “Insurance is a must”.
The commonly known insurance is the “All Risk Insurance” where the premium comes to 3% with min Premium $90 of the total declared value. Here the compensation towards damages/loses are paid in case of any above mentioned Circumstances. This would be the best risk cover.
The other type is called “Total Loss Insurance” where the premium is around 2.5% with min Premium $90. Here the compensation is paid only if the Complete Shipment is lost. No damages to the individual items will be covered. However the customer is the master and his choice would be final.
ALL RISK INSURANCE
- Brand-new items are NOT considered as professionally packed items if they are picked up from the owner’s residence, and hence, it will not qualify for DAMAGE coverage unless otherwise such brand-new furniture’s are unpacked (and taken photos) and re-packed by Universal or any local licensed mover.
- Insurance for brand-new furniture’s (with original manufacturer’s packing): Coverage for damages will be provided only in case if such items are picked up by UNIVERSAL or any local licensed mover (whom you engage for packing & loading) directly from the location/outlet of the vendor/manufacturer.
- ‘DAMAGES’ are not covered for items in owner packed cartons/boxes/packages.
- ALL RISK Insurance covers all items packed by UNIVERSAL for both ‘LOSS’ and ‘DAMAGES’.
- For shipment packed by owner, ALL RISK insurance covers ‘LOSS’ of individual packages of the shipment and ‘LOSS’ of entire shipment
- ‘DAMAGE’ coverage is provided only for items packed by UNIVERSAL or any other local licensed mover.
- Insurance for TV: Plasma TVs cannot be insured. All other types of TVs are eligible for coverage without restriction. All TVs must be professionally packed either in TV cartons or crated. TV will qualify for insurance coverage for damages only when the TV is packed by UNIVERSAL or by any local licensed mover whom you engage for pack & load of your shipment or it is professionally crated.
- The premium for ALL RISKS insurance will be 2.5% of the total declared value(that is, the total insured amount specified in the Grand Total of the inventory document).
- Minimum Premium for ALL RISK insurance is $ 75 giving you coverage of up to $ 3,000.
Total Loss
The premium for total loss insurance will be 2.5% of the total declared value (that is the amount you specified in the ‘Grand Total’ of the inventory document).
Minimum Premium for total loss insurance is $75 giving you a coverage of up to $3,000 with $250 Deductible.
Your shipment is covered by insurance only against named perils such as stranding, sinking, burning, collision, jettison of cargo, barratry or explosion and you would be entitled to the full insured amount only in the event your entire shipment is lost.
Insuring Shipping Charges
You can also insure the cost you are incurring towards your shipping charges, The money you are paying for UNIVERSAL can also be insured. By including this, you may be paying premium similar to what you pay for the other items in your shipment, but it gives scope for full replacement value and peace of mind while your shipment is in transit.
MOVERS LIABILITY
In case if you are planning to choose none of the above mentioned insurances.
Any Damage Incurring during Transit or loss of individual packages or loss of shipment
Will not be covered by Universal Relocations, or any party affiliated to handling of the shipment.
Unless a greater value is declared by the owner/ shipper or authorized agent, the goods are released to the moving and/or storage company at a valuation of sixty cents ($.60) per pound per article. For example, a 50 pound flat screen television valued at $1,000.00 is covered to a maximum of only $30.00.
TERMS AND CONDITIONS
- (A) loss or damage arising out of the acts of any government, customs authority or official confiscation. Consequential losses dueto delay or any depreciation in value are not covered.
- (B) items missing from owner packed (PBO) or condition unknown (CU) cartons. Claims will not be honoured for the loss of any
PBO or CU carton unless the shortage has been noted at the time of delivery and reported to I.T.I. within 45 days of delivery. - (C) loss due to damage or breakage of items in owner packed (PBO) or condition unknown (CU) cartons, crates, or containers.
- (D) loss or damage to jewellery, watches, gems, stones, cash, currency or bank notes, deeds, travellers cheques, coin or stampcollections, alcoholic beverages, negotiable items, contraband, prescription drugs or other like items.
- (E) loss or damage caused by wear and tear, changes in climatic conditions, infestations or inherent vice.
- (F) any internal electrical or mechanical component of any device unless exceptions are noted at the time of delivery for external damage to such property. Loss of data, manufacturer defects, recalibration, wear and tear are also excluded. Electrical ormechanical malfunctioning coverage, excluding vehicles, is available for a nominal additional premium to cover internal transit related damages.
- (G) loss or damage to any item unless the premium for the insurance has been received by Universal Relocations.
- (H) loss or damage to vehicles while being driven under their own motive power except while on the premises of the port.
- (I) marring, denting, chipping or scratching on automobiles, motorcycles or other motor vehicles over three years old.
- (J) non-factory installed accessories or removable items on vehicles. Goods of a personal nature shipped inside vehicles are also excluded.
- (K) wrinkled or soiled clothing, linens, drapes and rugs.
- (L) marring, scratching, denting, chipping or rubbing on items which have been received by the carrier as condition unknown.
- (M) concealed missing or non-delivery of a shipping package if the delivery receipt shows that the package(s) was delivered to the final destination.
- (N) items not listed on the inventory prepared at origin. Items not shipped are not insured.
- (O) appraisal fees, shipping charges, damages caused during assembly or disassembly, items having no commercial value, items of
sentimental value or property damage. - (P) an entire set if any single item(s) is lost or damaged. Payment will only be made for the proportionate value of the item(s) lost or damaged. Pairs and sets coverage is available for a nominal additional premium to cover transit related damages.
- (Q) loss caused by nuclear reaction, radiation or radioactive contamination, whether controlled or uncontrolled, however caused.
- (R) physical loss or damage to the property carried out for political, terroristic or ideological purpose when property is in storage.
- (S) loss and/or damage on door to port shipments unless exceptions are noted when the shipment is received at the port of discharge.
- (T) loss or damage to plasma televisions, monitors or like items.
- (U) structural damage to system or kit furniture constructed of veneered chipboard or similar, or any reduction in the quality thereof arising as the result of dismantling or reassembly of any such items of furniture.
- (V) experimental or prototypical vehicles.
- (W) loss or damage attributable to fumigation or contamination of the shipment from any cause.
- (X) loss or damage to live or perishable items.If underwriters replace, make a total loss payment or pay the insured amount as shown on the valued inventory for a damaged article, they, at their option, have the right to salvage the damaged article. The insurance company reserves the right to inspect and verify all reported damages and to require substantiation of any claimed amounts, values of items claimed or proof of ownership
FAQ
- What Are the Insurance Options Clients can opt for ?
- How much Premium does this Insurance Cost ?
- What If No insurance is needed ?
- If the Items are packed by owner will the Insurance cover all the damages of the Items that are being Shipped?
- How to get Insurance to cover damages for all the Items that are being shipped ?
- What are the documents that needs to be submitted? Whom to Contact to avail the Insurance?
There are three types of Insurance Options.
- a. All Risk ( Total Coverage of damages to all the Items packed by the Carrier )
- b. All Risk ( Loss of Individual boxes packed by Owner)
- c. Total Loss Insurance ( Only covers complete loss of shipment ).
- All Risk Insurance ( 2.5% of the Total Value of Items Insured )
- Total loss Insurance ( 2% of the Total Value of Items Insured)
We recommend all the clients to opt for the Insurance. In case if you don’t need the Insurance, the client has to sign an Insurance Waiver. Any Damage Incurring during Transit or loss of individual packages or loss of shipment. Will not be covered by Universal Relocations, or any party affiliated to handling of the shipment.
If the items are packed by Owner, the Insurance will not be covering any damages to individual Items that are packed by the owner. The Insurance will only be covering the Loss of Individual Boxes in which the Items are being packed.
Opt for packing to be done by Universal Relocations or any agent authorized by Universal Relocations. Then All Risk Insurance Can be availed for all the damages to the items being shipped.
Need to submit the list of Items that are being shipped along with Value of their items.To get further Information regarding documentations and questions for Insurance Can contact our Insurance Manager with Universal relocations @ +1 678 786-7276 email: ins@universalrelocations.com.
CERTIFICATIONS
