My cousin is moving back to his home country and he is shipping all his stuff via international shippers. And they provide two types of insurances. They are as follows:
All Risk Insurance: Your shipment is covered against risks such as breakage, damage, theft, fire, earthquake, collision, accidents, etc. if it is packed by our crew. But, packed by owner items (PBO) are not covered for damages/breakages & loss of items within the concealed boxes. The premium for this is 2.5% of the declared shipment value with $75 minimum premium & $250 deductible.
Total Loss insurance: You would be entitled to the full insured amount minus the deductible, only in the event your entire shipment is lost. The premium for this is 2% of the declared shipment value with $75 minimum premium & $250 deductible.
Note that, in the first type of insurance, they said the items which are packed by their crew are the only ones covered.
In our case, he packed all his stuff by himself. I suggested him to take the second type of insurance but I am not sure if it is right. That is why I am here to ask if anyone has a better understanding of these insurances and which one would be wise to take?
Any help/advice would be hugely appreciated.