Insure Your Move. Making Sure You Have The Right Cover

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If you’re looking to Insure your items whist moving or in storage, then we can help!

If you would like a quote please email insurance@smart-move.com.au and we will be happy to send you some documents to provide a quote.

There’s a common misconception that your furniture and possessions are automatically insured under your removalist’s insurance when you move.

Your chosen removal company should make it clear from the outset what is and what isn’t covered, otherwise you could be in for a nasty shock if something goes wrong.

Insurance within the removals industry operate like airlines so their customers aren’t covered by insurance as standard, and you would need to acquire your own policy in advance in case anything should go wrong.

In addition, Australian law doesn’t require removalist companies to hold insurance other than ‘transit insurance’ which covers your goods only whilst in transit, i.e. if the truck was to be involved in an accident, or catch fire etc.

Removal companies would need to be a licensed insurance broker in order to offer full Transit & Storage to their customers.

Some removal companies might say “fully insured”, but check.

They are probably referring that they are insured and not you or your goods at any point!

So, it’s up to you to ensure that you have the correct insurance for your removal and/or storage in order for your belongings to be protected and to prevent a financial loss if things do go wrong.

Let’s face it, insurance is very much a grudge purchase.

We’re paying out money based on something that is very unlikely to happen.

But should you choose not to insure your possessions and something does go wrong you could face substantial material and financial losses.

Insuring Your Move

SmartMove (Sydney) Pty Ltd can provide you with restricted and full  insurance to protect your goods while they are in transit or storage.

This is because we are a member of the Australian Furniture Removalists Association (AFRA) and an authorized representative of Cowden (VIC) Pty Ltd (AFSL 245658), a licensed insurance broker.

This will help you rest easy knowing your prized possessions are fully protected and save time by only having to deal with one company if you were to make a claim.

Type of Risks 

You have the option of ‘Full’ or ‘Restricted’ Cover’. Full Cover insures you for most risks of loss or damage to your goods. However, Restricted Cover only insures you for accidental loss or damage which occurs as a result of:

  • Fire, explosion, lightning, and flood
  • Overturning and/or derailment of conveyance
  • Collision of vessel, aircraft or conveyance
  • Crashing or forced landing of aircraft
  • Stranding, sinking, or contact of a vessel with any external object other than water
  • Entry of water into any vessel, hold, container lift van or place of storage
  • Discharge of goods at a port of distress
  • Jettison of goods from a vessel
  • Theft, Pilferage or Non delivery of an entire package or item

If you elect cover for storage as well, this insures loss or damage to your goods during storage

Basis of Settlement – You can choose to insure your goods on a “Replacement” basis or for “Market Value”.

Under Replacement Cost cover, if your goods are lost or totally destroyed, you receive the new replacement cost provided the goods are less than 10 years old.

Under Market Value cover, you only receive the current market value of the goods (i.e. the replacement cost less an allowance for age, condition wear, tear and depreciation). If the goods are damaged, both covers will cover the reasonable cost of repair.

Image courtesy of Alan Clever on Flickr.