Everything you need to know about moving insurance
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Moving is stressful enough so you do not need additional stress thinking about your belongings, whether they will be safely relocated or not. No matter if you are moving on your own or you hire a moving company, things can always go wrong. So, if you are planning to move any time now it is important to ensure your belongings. There are a lot of things you should be thinking of when it comes to the protection of your items, so choose carefully the moving company and the insurance type.
What is moving insurance? Well, it speaks for itself. Moving insurance is the protection of your belongings during the transition between your old and your new home. The insurance itself cannot prevent your thing from being damaged, but if anything happens, if your items get lost, stolen, or damaged, the insurance will cover the damage. If you are moving on your own or hiring a moving company, moving insurance is a must. If you decide to hire a company to help you, you may have more options when choosing insurance. You can search for the moving companies in Hollister and check their offers. If you are doing it yourself, you should pay attention when choosing insurance and what it includes. There are three types of moving insurance:
- Released value insurance
- Declared value protection moving insurance
- Full replacement liability
- Third-party insurance
So, the price and the coverage of the insurance depends on the distance and the value of your belongings. Instead of automatically choosing the cheapest option, it’s important to understand the different moving insurance options and choose the one that suits your needs and your budget. To decide the type of coverage for your belongings they will be subjected to the valuation. It determines how your items will be valued if they are damaged, lost, or stolen and who is responsible for that cost.
Choose the insurance
So, to choose the right insurance type, you can call your insurance agent and ask him for advice. You should analyze the value of your items. Make a list of your items, especially the expensive ones, and write down their actual worth on the market. You should be aware that the actual worth won’t be the same as the price you paid, especially if you have some items for a few years. It would be good to write down its weight too. If you need to transport some fine art pieces call your movers to handle them. Skilled movers will pack them and prepare for the move and when you add insurance of the belongings to all of that, there will be no need to worry about your move.
One of the important things is to pack properly your belongings. If you have some very valuable and fragile belongings you should declare it to your movers. Or you can search on the internet for “movers near me” and choose the moving company that suits your needs. Let them conduct your move.
Reliable moving companies can offer you full service. Let them take do the packing and the unpacking and safely relocate your belongings. Moving can be quite stressful so you will want just to get over with it.
If you decide to hire a moving company and they offer you insurance here are some questions you can ask them to make sure it is the right decision:
- How will the value of damaged items be determined?
- Is coverage different if you pack your own things?
- What is the claims process? Is there a time limit?
- What if my old home gets damaged during the move? Is this covered?
Released value insurance
Released value protection is the basic coverage option your movers will offer you. The coverage is free, and it gives the least amount of protection. So, you should be asking for it from your moving company, ask them to precisely what does it include exactly and to add it to your contract (if it is not already). If you take this basic insurance the value of your items will be based on weight. Moving companies assume liability at only 60 cents per pound per item. It basically means that if you have some appliance or your TV is damaged that weighs 50 pounds. He will be valued at $30 and not a few hundred dollars what is it’s actually worth.
Declared value protection moving insurance
This is the mid-level coverage. Its value is not in pounds but dollars and it is depreciated price. By declaring the value of your items will allow the insurance company to have a record of how much your belongings cost. And this is how they estimate the coverage, there is an additional charge of $1.25 times the weight of your shipment. So, for example, if your entire shipment weighs 6,000 pounds, your mover is liable for up to $7,500.
Full replacement liability
This is the best way to protect your belongings. It means that means your moving company is liable for the full replacement value of the goods they are transporting. Your belongings will be fully protected and if anything happens the insurance will cover it. Maybe you will have to pay a little bit more for this but it is worth it. The coverage is between $4 or $6 per pound. When claiming the full coverage you will have three options for fulfilling a claim. Your movers can repair the item, replace it with an item of comparable value, or make a payout for the cost of repair or the current market value of the item.
If you are not sure that the insurance you get from your movers you can take additional insurance, especially if you have a lot of valuable belongings. You should check if the insurance covers only the items while they are in transit, or if your belongings are ensured while still on site. Always double-check with your insurance provider to find out exactly what’s covered. You wouldn’t want to realize too late that your insurance policy doesn’t cover some of your most valuable items.
These are some tips and explanations about moving insurance. Take everything into consideration before choosing one. Make sure you read the insurance contract before signing it.