The UK's ultimate guide to Malaysia property
Insurance
It is important that your treasured possessions are insured. Only international removals companies who are authorised and regulated by the Financial Services Authority (FSA), such as Abels Moving Services, can offer insurance in the UK.
It is advisable for overseas moves that insurance cover is based on a detailed valued inventory. Additionally, this inventory can be used for household contents insurance in the destination country.
For insurance based on an inventory, the insurance company will quote a premium per £100 or as a percentage of the total value of the declared inventory. There are three levels of cover which can be offered: ‘A’, ‘B’ and ‘C’ clauses. ‘A’ is the highest level of cover, usually referred to as ‘all risks’, whereas ‘C’ clauses are the lowest level, described as ‘total loss only’ or ‘restricted cover’.
Then you have two types of policy – ‘like-for-like’ (reinstatement) and ‘new-for-old’ (replacement). ‘Like-for-like’ cover means that claims will take into account age, wear and tear, and current value as a second hand item. This may result in a claim for thousands of pounds being turned into a settlement of mere hundreds. ‘New-for-old’ is for a true direct replacement, although this insurance usually carries a higher premium.
The insurance rates of such policies will change widely depending on the type of cover, for example whether it is ‘A’, ‘B’ or ‘C’ clauses, with specific exclusions and if ‘like-for-like’ or ‘new-for-old’. Ensure it will cover you at replacement value at destination. Careful assessment is needed to compare various removals offers and insurance you may receive.
It is advisable for overseas moves that insurance cover is based on a detailed valued inventory. Additionally, this inventory can be used for household contents insurance in the destination country.
For insurance based on an inventory, the insurance company will quote a premium per £100 or as a percentage of the total value of the declared inventory. There are three levels of cover which can be offered: ‘A’, ‘B’ and ‘C’ clauses. ‘A’ is the highest level of cover, usually referred to as ‘all risks’, whereas ‘C’ clauses are the lowest level, described as ‘total loss only’ or ‘restricted cover’.
Then you have two types of policy – ‘like-for-like’ (reinstatement) and ‘new-for-old’ (replacement). ‘Like-for-like’ cover means that claims will take into account age, wear and tear, and current value as a second hand item. This may result in a claim for thousands of pounds being turned into a settlement of mere hundreds. ‘New-for-old’ is for a true direct replacement, although this insurance usually carries a higher premium.
The insurance rates of such policies will change widely depending on the type of cover, for example whether it is ‘A’, ‘B’ or ‘C’ clauses, with specific exclusions and if ‘like-for-like’ or ‘new-for-old’. Ensure it will cover you at replacement value at destination. Careful assessment is needed to compare various removals offers and insurance you may receive.
