Moving Insurance Guide: Things You Need to Know
Relocation insurance is one of the most critical parts during 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 it 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.
The Claim Process
If you want to file a claim for loss or damages you may be required to provide evidence that the items were moved by the movers and 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 as well, and file your claim as soon as possible.
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 we also provide several moving services including residential, commercial, long distance, vehicle, overseas, and senior moving, as well as packing and unpacking services, secure storage, and junk removal. Contact us today to find out more and speak with one of our relocation experts.