Everything you need to know about moving insurance
Moving organization - November 30, 2021
Inexperience in house relocations brings many challenges and dilemmas. One of them is moving costs and moving insurance. Relocating your house can get expensive, so people are often worried about any additional cost and wonder whether or not it’s necessary. Moving insurance is one of those items on the moving budget list. Let’s learn everything about moving insurance and decide if it is necessary for your upcoming move.
Moving insurance – what does it include?
One of the most common problems with moving insurance is when people don’t understand what it actually is. The truth is, it is actually valuation – which is not insurance, yet it functions in the same way. Moving companies are not insurance companies, so they can’t offer ‘real’ insurance, but they offer a valuation. This basically means they will compensate if any of your items get damaged or lost during the moving process.
However, before you go into the insurance details, you should pick a trustworthy company that will transport your valuables safely, without any risky situations. But you should know that even then accidents may happen.
Therefore, be careful when signing a contract – check the level of liability, or what actually the valuation covers, since it may vary with each moving company.
What are your options?
As we mentioned, moving insurance depends on the company’s rules. However, most of them work in the same way. Firstly, movers will evaluate your move and give you the bill of landing. It’s the list of the items you will be moving as well as their weight, and the proof the items were picked up (so pay close attention to this document). Next, you will be able to choose between two options:
- Released value – this option is based on the weight of your items. The good thing about this type of coverage is the price – it’s free. However, if you own some expensive and fragile items, it’s not a very good option, since it includes the liability of 60 cents per pound.
- Full replacement value protection – a much safer, yet more expensive option is the full valuation. However, even though you need to pay more for this moving insurance, you will be sure you’ll get exactly what’s a lost or damaged item worth. This option is very useful if you plan on moving some antiques, art, or expensive electronics. Gadgets are very lightweight nowadays, and the first option of moving insurance would not cover a small part of their value.
In case you want to additionally protect your items, you may want to consider third party options. You should know that your renter/homeowners insurance won’t cover your items, and you need a separate policy for that – unless you’re moving locally. However, you should check that in detail. You can also use insurance policies that cover your items during transit only. Your items will be protected until you move them out of the van and into the new house.
Whatever is the case, make sure you check the details (the smallest ones) of the moving insurance policy and make sure your valuables are really covered. Being thorough about these things will only help you reduce the moving costs and increase the safety of your move.
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