Here is a list and brief description of different types of household shipping insurance.
All Risk Shipping Insurance
With this type of coverage, the insurance company must repair or replace any goods that have been damaged due to just about any types of hazards—fire, theft, breakage, water damage, loss, etc. The only exceptions when insuring a container through this method are those excluded specifically in the terms of the policy.
All Risk Shipping Insurance – Full Replacement Value Coverage at Destination
This comprehensive coverage is usually only available if your household goods are professionally packed by your overseas movers. This offers the full value of repair or replacement based on your destination—depreciation is not taken into account. Keep in mind; you may want to investigate values of your high-value items at your destination prior to choosing this option as you may find there’s a significant difference.
All Risk Shipping Insurance – Full Replacement Value, Lump Sum
With this type of coverage you would declare a lump sum that represents the coverage you wish to have for your shipment. Only the goods valued at a minimum price must be listed and provided to your insurance company. These items will be covered under the lump sum you declared and not considered additional value so long as the total declared value is not higher than the total replacement value.
Total Loss Shipping Insurance
This coverage only covers your loss if your entire shipment is destroyed or lost under circumstances such as a fire, an Act of God, missing vessel, etc. Individual items will not be covered