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Insurance for move - the clauses seem nuts!

Insurance for move - the clauses seem nuts!

Old Jun 12th 2013, 4:59 pm
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Default Insurance for move - the clauses seem nuts!

Just going through the policy I was sent from Letton Percival and almost everything seems to be excluded! I know they have a good rep on here but Im wondering why, and if things have changed.

In particular, its the exclusions that seem nuts ...
- does not include loss or damage resulting from climactic or atmospheric conditions or changes in temperature ... [I would have thought this is one of the main things to cover for].
- not covered for wear and tear/ moths/ vermin/ gradual deterioration. .... [not much I can do about it if a rat or something gets let into the container and I want to be covered for this].
- 'ordinary leakage' is not covered - whatever THAT is.
- piracy is covered but terrorism is not, and the definition of terrorism looks a lot like most piracy to me.
- not covered for delays - again I would have thought this was one of the main things to get cover for.
- loads of clauses about if the container is damaged its not covered, or if the ship is not sailed correctly etc its not covered. Again, not sure exactly what I can do about this!
- the cover seems to end when the stuff is unloaded from 'any transport' to any place of storage, even if this is not your house - might be somewhere used by the movers for allocation/ distribution/ storage other than in the ordinary course of transit. Not sure what I can do about this.
- the cover also seems to end if any transit is used other than in 'normal course of transit' whatever that means.

I'm still picking through it, but I'm not liking what I'm reading.

Simon
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Old Jun 12th 2013, 11:48 pm
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Default Re: Insurance for move - the clauses seem nuts!

Insurance is becoming a dirty word in NZ. I don't know if that is putting premiums up everywhere, giving insurance companies even more carte blanche to cover their own, 'interests'.

I didn't use LP, it was just easier (for me 'cause I couldn't be bothered looking elsewhere for insurance) to use the insurance that our shipper, 'PSS' had.

As we moved to Christchurch, frankly, our stuff was safer travelling on the high seas ! (The Rena disaster notwithstanding )

Our computer monitor was not functioning on arrival. However, it got knocked off the desk during an eathquake and the screen smashed. I just threw it away and purchased a new pc monitor for a couple of hundred dollars that's about a hundred quid. I just shrugged my shoulders about the cost of replacement.
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Old Jun 12th 2013, 11:53 pm
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Default Re: Insurance for move - the clauses seem nuts!

Yeah, I heard that NZ had the highest value of insurance claims of anywhere in the world the year of the quake.


Hmm, reading insurance Ts and Cs is never fun, but I'll be interested to see what LP have to say about the clauses, seems like mostly useless insurance to me.
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Old Jun 13th 2013, 1:47 am
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Default Re: Insurance for move - the clauses seem nuts!

I used them with it simply being a case of "suppose I better" & after spending lots of time researching (so yawn interesting) I picked them.

Also bear in mind the excess for claims. I know one of our parcels disappeared from the movers storage over here (I'm positive it was nicked, half-inched or whatever slang is pertinent) but the value was less than the excess.

Afraid it's a do you don't you conundrum.

If I had to do it again, I'd sell everything & come over with as much as I could carry. It's only stuff in the end. MY opinion though.

Good Luck!
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Old Jun 18th 2013, 10:10 am
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Default Re: Insurance for move - the clauses seem nuts!

Well, having been through the clauses of Letton Percival, my opinion was that it's a pretty 'thin' product which insures you for a lot less than the other options I was presented with.

Also, when I called to talk about the clauses, the guy I spoke to got really shirty and accused me of being a lawyer. What an insult (joke: any lawyers out there :-) ) ... anyway he seemed surprised that anyone had read/ understood their product offering. Which I think says a lot about their product.
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