Relocation insurance is one of the most critical parts of a move. You are entrusting all of your belongings to a transporter and relying on them to take your possessions from one location to another. It may not seem necessary to seek insurance as the chance for loss and damage is unlikely—but the risk still exists. Even the most secure and experienced drivers can experience accidents on the road. Before writing the idea off, here are some important things to consider about moving insurance.
Moving Insurance Coverage Options
When it comes to choosing moving insurance, there are different levels of liability. The two main options include full replacement value and released value. Full replacement value is the most comprehensive coverage option for your possessions but is also the most expensive. It covers intrastate, interstate, and international moves, and the move is liable for the full value of your goods unless items exceed a value of $100* per pound. Released value is a basic coverage option that makes the mover liable for no more than $0.60* per pound of your belongings. With this option, you are responsible for most of the repair or replacement costs. Moving insurance costs vary depending on the extent of them, so be sure to ask your moving company what options they have available.
Damages Covered by Moving Companies
Moving insurance companies cover the following damages: complete value protection, assessed value protection, and declared value protection based on weight. The first option is not offered by all moving companies but it is one of the better choices. It covers damaged, lost, or destroyed property, and pays for repairs and replacement, but there are typically minimum coverage amounts and deductibles. Assessed value protection is great for people moving lighter, valuable items. As for declared value protection based on weight, a moving company will consider the total weight of all your items and multiply that number by a specific amount per pound. The settlement is based on the depreciated amount of damaged or destroyed property.
How Does Moving Insurance Work – The Claim Process
The main purpose behind moving insurance is to protect your belongings against anything that might go wrong when moving from one home to another. This could be damage, loss, or even theft. You are creating a safety net for your personal belongings. When you buy a moving insurance policy you are paying the insurance company a small fee to be the guardian of your precious items. If anything unexpected happens, you are not by yourself to deal with all of the consequences. All of this will give you peace of mind so you can concentrate more and enjoy the excitement of moving home!
If you want to file a claim for loss or damages you may be required to provide evidence that the movers moved the items and were not previously damaged. Before buying moving insurance, make a comprehensive moving inventory list, including all your valuables including silverware, electronics and jewelry. Make sure it is complete before the movers transport your possessions. You can save before and after pictures, and file your claim as soon as possible.
Should I Get Moving Insurance
Deciding whether to purchase moving insurance coverage is all about the protection of not only your property but also your peace of mind during an already stressful time. As you’re about to relocate a full life’s worth of furniture and belongings from one place to another, the very real possibility of losing them or having them damaged in transit can be a nightmare. Mover insurance allows you to protect yourself against the potential for the worst, setting a limit to the harm that any accident can cause. When the unexpected happens, you’ll then have confidence that your belongings can be replaced, or repaired and that your peace of mind is intact. Having insurance for moving means one less thing to worry about, and the ability to focus on the fun of making a home in a new place.
Get the Best Moving Insurance with No Problem Movers
If you found this moving insurance guide useful and are seeking answers to further questions, the professionals at No Problem Movers can help. We are a professional moving company that not only offers advice and guidance to our customers, but also provides several moving services including residential, commercial, long distance, vehicle, and senior moving, as well as packing and unpacking services, secure storage, and junk removal.Â
Contact us today to find out more and speak with one of our relocation experts.
*Note – Numbers in this blog post are for general ideas only. Research before making any decision.