Why would anyone need transit insurance? Aren’t you much better off spending that money in finding reliable relocation companies in NYC and letting them deal with it? Well, yes and no. While hiring a competent mover is crucial in making your move a success, you will also need to get transit insurance. Your movers may have experience and skills, but unforeseen circumstances do happen, and if you are not insured they can end up costing you a lot. Here is what you need to know.
What is transit insurance
Transing insurance is the insurance you get when moving. This insurance can cover both your goods and your vehicle. As there are many different types of insurances it will be up to you to choose which one suits you best. The more you pay for your insurance, the better insured you will be. Therefore you need to consider carefully which insurance policy you sign up to so that you get the biggest bang for your buck.
Personal transit insurance is the one you get when you, personally move. Most moving companies NYC will provide you with this insurance in their standard moving policy. This insurance will cover some moving accidents and will provide some reimbursement if something happens to your goods. Both moving companies and insurance companies can provide this type of insurance and you should talk with both in order to get the best one. These insurances can also have clauses about time frames and methods used in your relocation. But, keep in mind that transit insurance can only cover transport by land. Plane and boat do not fall into this category.
Commercial moving is often a much more serious project then standard residential moving. Therefore, insurance for it tends to be more complicated. Many factors go into commercial moving as it may take weeks to properly execute. With that in mind, most companies let layers deal with the numerous clauses of their transit insurance. Most companies will have different schedules when it comes to relocation. And so you need to sit down with your commercial movers and figure out the insurance that goes along with that schedule. Do yourself a favor and get some legal guidance so that you are completely familiar with every part of your insurance policy.
Why you should get it
Not getting transit insurance is just asking for an accident to happen. While you do your best to prepare for your relocation and even work with top movers, there simply no guarantee that everything will go according to plan. That doesn’t mean that you shouldn’t plan your move. Far from it. What it simply means is that you should leave room for mistakes. And that you should have a plan if those mistakes happen.
Better safe than sorry
95% of moving accidents happen because of improper packing or mishandling. And while you can, and should, look up how to get quality moving boxes NYC, pack yourself and handle items, there is still going to be that 5 %. And no preparations or quality movers can make sure that they won’t impact your relocation. Therefore, it is much better to be safe than sorry and get yourself some transit insurance. That way you will not have to worry if something happens as you will be covered for that 5%.
A smart investment
Some of you may wonder if spending money on insurance is a smart investment. And we are here to tell you yes. It truly is. While for most people moving will go without any issues, you shouldn’t consider spending money on insurance as wasted. You are spending it so that you don’t have to worry. The lack of stress that comes from being ensured will let you have more energy which you can use to better your relocation. So, while spending money on insurance and not experiencing an accident may seem like a waste, it actually isn’t. All you need to realize is that you are buying a peace of mind.
Once you decide that you are going to get transit insurance, you need to know which insurance to get. Besides commercial and residential moving insurance, there are other types that you should be aware of. We will list some of the types, but you should talk with your insurance providers nonetheless. There are probably going to be different categories and subcategories that we cannot possibly cover in this article.
First off, there is vehicle insurance. When transporting a car or any other vehicle you need to have insured. That way you won’t have to worry about something happening to it along the road. Whether you are using a moving company or hiring a driver to transport the vehicle, it really doesn’t matter. Getting vehicle insurance is a must if you want to approach transporting it properly.
Regular goods are usually covered by standard moving insurance. But, even though it is, you shouldn’t skip reading it and getting familiar with it. Only by doing so will you know how much money you can expect if something happens. Furthermore, you will know what is the right procedure for claiming insurance. You can lose your insurance if you do not claim it in a certain period after relocation. The reason is that after a certain period you will not be able to prove that the damaged were caused due to moving and not due to your mishandling after the move.
The most common way of calculating the price which you will get for your items is the weight. And while this can be beneficial for some items, others are in no such luck. Your fragile family heirlooms, gold watches, and other valuable items will not yield 10% of their original value if they get damaged and you only have regular transit insurance covering them. Therefore, you need to look into getting special insurance for those items if you want to get proper value for them.