Transit insurance is optional and most people decide about it in thirty seconds at the end of a long quotation conversation. It deserves slightly more thought than that.
How it is priced
Typically 3% of the value you declare. Declare ₹8,00,000 of goods and the premium is around ₹24,000. That is real money, which is exactly why it needs a real decision rather than a reflex.
What all-risk cover includes
- Damage in transit from handling, shifting or road conditions
- Accident involving the vehicle
- Fire
- Theft of the entire consignment
- Damage during any storage period included in the contract
What it does not include
- Pre-existing damage noted at survey
- Items you packed yourself that the mover never surveyed - this exclusion catches a lot of people
- Mechanical or electrical failure with no external sign of impact (a fridge that will not start but has no dent)
- Cash, jewellery, share certificates and personal documents
- Normal wear, and inherent defects in the item
Declaring a value
Declare replacement cost, not what you paid. Under-declaring to save premium is a false economy: most policies apply average, meaning a claim is scaled down by the same proportion you under-declared. Declare half the true value and you recover half of any partial loss.
Is it worth it?
For a local move of ordinary household goods over a short distance, probably not - exposure is low and the premium is real. For an interstate move of 1,000 km or more, or any consignment containing furniture you actually care about, it usually is. The risk is not that everything is lost; it is the single ₹80,000 item that gets crushed.
If you do claim
Note the damage on the inventory sheet at delivery, before signing. Photograph it immediately, in place, before anything is moved. Confirm in writing within 48 hours. Keep the packaging - assessors often want to see how the item was packed. A good mover files the claim on your behalf; ask whether yours does before you buy the cover.
