Insurance
Insurance
For many planning to move, the worry that their treasured items may be damaged or lost during the move is lifted by the assumption they are fully insured. However, this may not always be the case. Any removals company giving advice or providing policies must be regulated by Financial Services Authority (FSA). Any offer will include a Keyfacts statement and their FSA registration number.
Financial Services Authority
Only FSA authorised removals companies will have been subjected to stringent quality and financial control procedures to be allowed to offer insurance. However, an apparent alternative being offered by non-FSA approved removals companies is a scheme based on their own extended legal liability. Such schemes, often with the quoted term “subject to”, are a minefield, with too many loopholes and exclusions, and customers should be very wary of any mover using this approach.
Levels of insurance available
Specialist movers offer transit and storage insurance which covers goods while in transit, during incidental storage en route, and while professionally stored. It is usually available at either an additional cost or, more rarely, included in the removal quote. 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’.