Transit Insurance
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At KMI we ensure
that your possessions are handled in expertise
hands with the utmost care in all stages of the
relocation and storage, the forces of nature and
physics that a shipment has to undergo are unimaginable
some may include different weather conditions,
wide variations of temperature, rigors of transport,
unexpected activities at transit terminals, possible
customs inspections…. All these factors can produce
damages or losses and all involved firms do have
limited liability for loss or damage.
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To safe guard against the unexpected hazards, we strongly recommend that your entire shipment be fully protected by ‘All Risk’ insurance coverage. Insuring your shipment will not only compensate you in the event of loss or damage but also provide you with ‘Peace of Mind’ while your treasured possessions are in transit or storage.
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KMI can provide
‘all-risks’ & ‘non-deductible’ insurance coverage
through Inter Trans Insurance Service, Inc. with
underwritten by American Home Assurance Company
(a member company of the American International
Group) who is an ‘A++’ rated insurance company
with representative offices in most countries
of the world. This insurance program is especially
designed to insure household goods, personal effects,
antiques, fine arts, automobiles, etc from the
time of collection through to final delivery.
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Our policy includes the following:
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| · Comprehensive door-to-door coverage |
| · Electrical and Mechanical Derangement Coverage |
| · Pairs and Sets Coverage |
| · Mold and Mildew Coverage |
| · Free storage insurance at origin and/or destination (Maximum 90 days) |
· Step-by-step proposal form designed to more easily achieve a realistic
replacement value of your belongings. |
| · No excess in the event of a claim |
· Very competitive rates as result of our very low claims experience
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Here are some useful
hints for your kind reference.
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| ·COVERED AND NOT-COVERED |
You will be covered on an All-Risks door-to-door insurance for all kinds of transportation. Any loss will be reimbursed according to the declared value shown on the valued inventory list.
What our Transit Insurance does NOT cover is currency, jewelry, watches, coins, stamps, stocks, negotiable instruments, pets or items of a similar nature. We do recommend that you arrange alternative coverage for these items and carry your valuables by hand to your destination.Items packed by owner(PBO) are not covered either
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| ·COMPLETION OF INSURANCE
APPLICATION |
KMI moving specialist
will provide you with a Valuation
Declaration Form for Insurance. You will be
certain to establish the value for all of your
belongings. Detailed personal listings are equally
acceptable. Please make sure that the valuation
form is signed by you. There are certain conditions
and exclusions in this coverage. The precise wording
is provided on the last page of the form. We strongly
recommend that you make yourself familiar with
these conditions before you complete your application.
Insurance application must be completed before
packing. Insurance coverage cannot be put in place
without a completed application supported by a
detailed valuation and it is essential to be in
KMI’s hands prior to the start of packing for
the move.
KMI will provide confirmation
of insurance when we have received your completed
application.In some instances, your confirmation
will be mailed to the destination agent who will
be delivering your shipment.
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| ·DETERMINATION ON
VALUE |
When you value your goods you need to think how much it would cost you to buy a new item and have it brought to your destination country. In this way you will be covered for the worst possible eventuality. Any claim settlement cannot exceed the amount you declared. All items that you wish to insure need to be clearly declared and properly valued on the application form. Items not declared are NOT insured.
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| ·A TOTAL VALUE ON
GROUPED ITEMS |
If items are grouped together, then the value of each item is the pro-rated value. For example, if you have 10 clothes declared at a value of $1,000, it will be assumed that each clothes is worth $100 and, in the event of loss or damage, settlement by the insurance company would be limited to USD100 per clothes. Therefore, if one of the clothes is worth $550 and the remaining 9 are worth $50 each, the clothes worth $550 should be listed separately in full details. We would suggest that high value items valued at over US$500.00 per item or set must be specifically declared and valued.
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| ·INSURANCE EXTENSION |
The insurance policy includes coverage up to 90 days storage at origin and/or destination. The delivery of shipment must be within 90 days after pickup. Any storage extension must be requested by shipper and the appropriate additional premium remitted for coverage to remain in effect. The goods must be stored in the warehouse approved by insurance company.
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| ·PAIRS & SETS COVERAGE |
While common insurance will only
compensate the loss of the actual piece missing
or damaged even this damaged item is part of a
pair or set, KMI provides you
with Pairs & Sets Coverage which will cover your
pain for mismatched should anything unfortunate
occur. Indicate in the appropriate box at the
end of the application form that you want Pairs
& Sets insurance, mark on valued inventory list
for the pairs & sets items. An additional percentage
on entire value of shipment will be added to the
premium.
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| ·MECHANICAL DERANGEMENT
COVERAGE |
While common insurance will only
cover visible damage to electrical/electronic
items, KMI provides you with
Mechanical & Electrical Derangement Coverage that
the items can be insured for derangement.Indicate
in the appropriate box at the end of the application
form and the items that require derangement insurance
have to be listed on the separate form(provided
by KMI).The working condition
of the appliances need to be checked and signed
by you and KMI representative.An
additional percentage on entire value of shipment
will be added to the premium.
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| ·MOULD AND MILDEW
COVERAGE |
While common insurance does not cover damage caused by mold & mildew damage, KMI provides you with Mould & Mildew Coverage for FREE of charge which means that your shipment is automatically covered with Mould & Mildew Insurance with no additional premium.
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| ·CAR INSURANCE |
The liability and insurance coverage for used automobiles is similar that of used household goods.Minor denting, chipping and scratching is excluded if the automobile is over 3 years old.A condition report signed by KMI representative and yourself has to be attached to insurance application form.
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| ·INSURANCE CLAIM |
We will take all possible precautions to guarantee the safe arrival of your belongings.However, if damage results which necessitates to file of a claim, we will endeavor to make the claims procedure as simple and fast as possible.Please follow the instruction which attached to the Confirmation of Insurance correctly,as it does form a part of the terms and conditions of the policy.
You have 45 days from the time of delivery to
notify the insurance company of your intent to
file a claim.Please report any damages as soon
as it’s noted, take photos on damaged item, get
reparable items repaired and complete the claim
form Fax the claim form and receipt from repair
shop to KMI soonest. Make sure
that your current mailing address is clearly marked
on the claim form.
Compensation amount for repairable goods is based on the receipts from repair shops. Compensation amount for non-repairable goods is based on value of goods. However, any compensation will be limited to its declared value shown on the Insurance Application Form.
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If you have further quires, please
feel free to contact
your KMI moving specialists.
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