Insuring your items for a cross-town or cross-country move is something everyone should consider before hiring a moving company to transport your life.
No one likes to think about insurance protection until it’s needed. But as with most things, it’s best to consider all your moving insurance options well before the moving van arrives.
The decision to purchase moving insurance is an individual call. Most moves go well, but one can’t account for accidents, dropped boxes, rain damage, or other unknown perils.
While it is true that moving companies must offer clients some level of coverage, these in-house offerings vary and do not guarantee complete reimbursement for damaged goods. All reputable moving companies must offer clients some level of protection. Under federal law, moving companies must offer policies that cover some of the value of your goods. Companies will offer free coverage under what is called basic-value coverage. But this protection only provides 60 cents per pound for an item.
This is a very basic form of moving insurance. It’s OK, but let’s say your brand new desktop computer, the one you just bought for $4,000, gets damaged in the move. Basic valuation coverage means the company will only pay 60 cents per pound for the damaged item. Unless your computer weighs a few tons, you will not recover much.
The next level of protection offered by movers is called full-value protection. This is not free, but it is recommended because, under this moving insurance method, the moving company will pay for either the current market replacement value of an item or replace the damaged material with a similar item.
Always get as much information about moving insurance options and guarantees when you select your moving company. Be sure to look at your moving contract and double-check just what kind of valuation protection you can expect and what it will cost.
You should also examine your current homeowner insurance or rental insurance policy to see if it can be incorporated into any moving insurance option. Homeowner or rental insurance generally covers what happens inside your home or apartment, not what happens once your furniture or boxes are moved onto a truck.
Don’t be shy about asking questions. Your insurance company can help with guidance. Reputable movers, like Buehler Moving Companies, will be happy to help you make the right call. Just ask.
Finally, if you can, also get specific moving insurance from a third party. Most moving companies do not sell new insurance policies. That level of coverage is generally up to third parties. The specifics of any all-encompassing moving insurance policy will be up to you and the third-party insurance broker you speak with.
Third-party moving insurance coverage will cover damage from floods and other natural disasters, cover valuable items, and offer an extra layer of protection should something bad occur.
As always, review everything before you sign up. Take time to evaluate the price of what is going onto the moving truck. Review the basic-value coverage the moving company offers, discuss the need to have an extra layer of protection with the full-value level of moving protection.
Finally, call an insurance broker to see what can be done to fully protect your items during a move.