WORLD WIDE TRANSPORTATION INSURANCE SPECIALISTS
30 Windsormere Way Suite 200 Oviedo, FL 32765
IMPORTANT INSURANCE FACTS
You may insure your shipment for REPLACEMENT COST, ACTUAL CASH VALUE or NAMED PERILS. A brief explanation follows:
REPLACEMENT COST coverage pays for repair or replacement without depreciation. All items in the shipment must be insured for their current replacement cost. A valued inventory must be completed, listing all items in the shipment with individual values.
ACTUAL CASH VALUE coverage is replacement cost less applicable depreciation based on the age of the item. You may complete an application or valued inventory for this coverage, but it's not required.
NAMED PERILS coverage limits payment to damages and/or loss that happen as a direct result
of perils named on the certificate (i.e. fire, lightning, windstorm, hailstorm,
tornadoes, collision or overturn of the transporting conveyance, sinking or
burning of the vessel and aircraft crash).
All coverage's require the shipment
to be insured to 100% of its value.
The conditions of coverage won't permit
selectively insuring only certain
high value or expensive items in the
shipment. If you fail to insure your shipment for 100% of its value, you could be
subject to
a co-insurance penalty in the event of a claim.
EXAMPLE: If your shipment is worth
$10,000 and you only insure it for $5,000, and you have an established loss of $500, the
maximum you could be paid is $250. This payment would represent the 50% for which the
goods were insured.
KEY TERMS AND CONDITIONS
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Pairs and Sets Clause -- limits payment to the missing/damaged item only and not the value of the pair or set. |
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Mechanical
Derangement -- there must be external damage or physical evidence of
mishandling of an item before payment can be made for mechanical
malfunction. An electrical / electronic item that worked at origin and does
not work at
destination isn't sufficient evidence to establish mishandling. The
insurance certificate is not designed to be a maintenance contract.
Some items by their nature are not designed to be moved without some
adjustment being necessary, i.e. computers, televisions, compact disc
players, etc. |
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Payment is excluded for loss or damage caused by normal wear and tear, change in climatic conditions, moths, vermin or inherent vice. |
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Payment is excluded
for any type of negotiable currency, cash  ,
bank notes, stocks, bonds, postage stamps, jewelry, watches or
personal papers/documents. Customized computer software and home videos or
VHS tapes are covered only for the cost of the hardware involved, i.e. the
actual tape, not the information contained thereon. |
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Payment is excluded for coin and stamp collections. |
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Payment is excluded for loss of value or depreciation in market value for antique or high value items. Payment is limited to the cost for repair of the damage only. |
Some exclusions can be "bought back" for additional premium. If you want to discuss the options, please notify the Moving Company/Forwarder.
We strongly suggest
that you complete an application or valued
inventory detailing the contents and values of the goods in your shipment.
However, in the event you elect to declare a lump sum valuation on your goods with
no supporting breakdown, you must still declare any "HIGH VALUE
ITEMS" in the shipment. As a general guideline, any item with an
individual value of 2% - 5% of the value of the entire shipment would be a high
value item.
EXAMPLE:
If a shipment is insured for $5,000, a statue worth $250 would be a high value item. If your
shipment is worth $100,000, a statue worth $2,000 would be a high value item.
There are other relevant terms and conditions
that apply to your coverage. We recommend that you request a copy of
your actual insurance certificate from the mover prior to shipment. Read it
carefully and discuss any questions or concerns at that time.
STORAGE - IN - TRANSIT
Some Executive Insurance Services clients have Storage-in-Transit
coverage that differs from the 60 days noted on the certificate. Please check
with your mover to see how long your goods will be covered should
they go into storage. If storage exceeds the allotted amount of time,
arrangements must be made to continue the insurance.
The Storage Extension Request Form, found on the bottom of the certificate,
should be completed and additional premium sent to EIS. If an extension is not
requested,
coverage will cease following the original SIT period. If your shipment will be in storage
more than 6 months, contact the mover to discuss the possibility of
converting the insurance coverage to Permanent Storage. PLEASE NOTE THE INFORMATION
CONTAINED IN THIS SECTION APPLIES IF YOUR SHIPMENT REMAINS IN THE
CARE, CUSTODY AND CONTROL OF THE MOVER. SELF-STORAGE AND MINI-STORAGE
FACILITIES ARE NOT COVERED UNDER THIS INSURANCE. IF YOUR GOODS DELIVER INTO THIS
TYPE OF FACILITY, COVERAGE CEASES AT THAT TIME.
CLAIM FILING
If your shipment sustains loss and/or damage, Executive Insurance Services must be notified of your Intent to File a Claim within 45 days of delivery. You then have an additional 90 days to submit your completed claim. Instructions must be complied with for your claim to be processed. If you require assistance, please contact EIS and we will be happy to help you, however, it is the Insured's responsibility to document and substantiate all claims.
The Moving Company may offer to assist you in procuring insurance coverage as a service and convenience only. The insurance contract is between the Insured and the insurance company. The Moving Company may attempt to answer questions or assist with any problems you may have. However, it is most important that you understand the mover is in the moving business and is not an insurance agent. Therefore, we stress the importance of reading the insurance certificate prior to commencement of your move.
We hope you a safe and pleasant journey to your new location. If we can be of assistance, please do not hesitate to contact us.
