General Transit Insurance to Protect Your Goods
Even though we plan on your move being a success, things can sometimes go wrong and it may not be the fault of the removalist.
Similar to having a household insurance policy to protect your goods whilst they are safely located in the home, it makes sense to ensure they are adequately protected when they are placed in a higher risk situation.
Some household contents policies have clauses to cover some of the risks associated with moving - but not all of them. Therefore you must consider transit and storage insurance.
At John Ryan Removals, we can assist you in obtaining insurance to protect your goods while they are in transit or storage. We are an authorised representative of Aldridge and Street, a Division of Cowden (VIC) Pty Ltd (Australian Financial Services Licence 245658), a licensed insurance broker.
Why should I take out transit insurance?
Regardless of the contractual rights you may have against your Removal Company, there are many circumstances where they will not be liable to make good any loss or damage to your goods. An example of this is where the goods are damaged as a result of an accident that is not the Company’s fault. Customer Goods in Transit and Storage insurance can assist to fill this gap.
Cost of the policy
The cost of the insurance policy depends on the value of the goods being removed or stored.
Other factors which determine the premium include:
- The type of insurance selected by you (market or replacement value, transit or storage)
- The distance the goods are transported or period for which the goods are stored
- The insurance cover selected (all risks or only specified risks).
- The amount you pay includes any stamp duty and GST.
Our quotation for your transit insurance is firm. John Ryan Removals will provide you with one month’s notice of any change in the storage insurance rate.
How do I select the amount to be insured?
It is important that you insure your goods for their full value. This means that you should tell us about the:
- New current value for Replacement Cost Cover (with no allowance for depreciation)
- Replacement cost less an allowance for depreciation for Market Value Cover.
If the declared value of the goods is less than 80% of their actual value at the time of the loss or damage, the amount of the claim will be reduced in the same proportion as the declared value bears to 80% of the actual value.
How you pay for the insurance?
The premium will be shown on the quotation for your Contract for Removal and Storage which we will provide to you before your goods are removed. When you accept the quotation, you pay for transit insurance when you pay your removal charges. John Ryan Removals will invoice you for storage insurance at the same time as the storage charges.
Please refer to the Product Disclosure Statement and Financial Services Guide to assist you in your decision making.
Please use our Insurance Checklist to assist in arriving at your declared value.