Facts About Moving Insurance
Facts About Moving Insurance
Call us for a FREE MOVING QUOTE: 800-373-6683
According to movers, there are many things that can go wrong even in a perfectly planned, well-organized relocation. The best way to be prepared for all the things that may cause damages to your prized possessions is to consider the facts about moving insurance coverage. Here is the recommended way to make sure that your belongings stay safe during your move.
- Know your options
More facts about moving insurance. If you ask any moving company, they are required by law to offer two types of moving insurance coverage to their clients. “Released Value Protection” is a type of insurance coverage where any damages caused to any of your belongings will be reimbursed at 60 cents per pound. This is only a very basic coverage option and it is obvious that most of your belongings are worth more than 60 cents per pound. Therefore, long distance movers offer an option known as the “full value protection” where the coverage depends on the value of your belongings. This insurance option will cost you about 1 percent of the full value of your belongings to obtain. In the event of a destroyed item, extensive damage or loss, the moving company is provided two options with full value protection. This is known as “full replacement value” where the moving company decides how to reimburse damaged or lost property.
- Consider upgraded moving coverage
Depending on your risk factors, you may be able to upgrade your insurance coverage. Expanded valuations are offered by some moving companies where the client is allowed to declare a per-pound value for their belongings. If not, you can ask the moving company to offer a lump sum or assessed value for your shipment. This coverage option allows the consumer to set the amount by value and is ideal when you have to transport valuable items that are not too heavy.
- Other options
Be sure to consult your insurance agent or insurance company to see if you have any moving related options available through your homeowner’s policy. You may also consider “relocation insurance” that is offered by some companies if you choose to have your belongings covered by a third party. Another option is the total loss coverage where your belongings will be replaced in the event of a major catastrophe.
Call us for a FREE MOVING QUOTE: 800-373-6683
The Official Mover of Steinway & Son
1320 53rd St.
West Palm Beach, FL 33407
Author: Kathy Long