What it covers
Transit insurance protects your goods against loss or damage while they are being transported, for example in a road accident, a fire, theft of the vehicle or the truck overturning. Depending on the policy, it may also cover damage during loading and unloading. It usually does not cover wear and tear, items packed by you, pre-existing damage, mechanical or electrical faults with no visible damage, or cash and jewellery.
How much it costs
Expect about 1% to 3% of the declared value of your goods. For goods worth ₹3,00,000, that is roughly ₹3,000 to ₹9,000. Wider cover (including handling damage) costs more than cover for transport accidents only. Ask your mover for the exact policy terms before you pay.
How to declare value
Declare the current value of your goods, not what you paid for them years ago. Under-declaring lowers the premium but also the payout; the claim is paid in proportion to the declared value. List expensive items separately (TV, fridge, washing machine, sofa set, dining table) with their values.
How to claim
- Note any damage on the delivery receipt or inventory before the crew leaves.
- Take clear photos of the damaged item and its packing.
- Inform the mover in writing (WhatsApp or email) within the time given in the policy, usually a few days.
- Submit the claim form, inventory, photos, repair estimate or bills, and the policy copy.
- Keep the damaged item and packing until the surveyor has seen them.