Moving insurance is a luxury that many homeowners think they can get by without. After all, you expect the moving company to cover any damage or lost property during the move: but how true is this? While it’s true that movers often incorporate some insurance to cover damages, they can’t be relied upon for coverage in the event of extensive damage or destruction of property. If you property does not weigh much but holds considerable value, you should consider purchasing insurance that is based more on cost than the quantity.
The average moving company may be willing to offer these two kinds of protection for your move:
- Released value protection: this type of coverage is based on price-per-pound; so if you lose a 50-pound flat screen TV then you would be compensated at a rate of 60 cents per pound.
- Full value protection: it may include full coverage for repairs and replacement of property.
Understanding company contracts
In some cases, moving contracts clearly assert that the mover is not liable for damages that occur during transit. So if you don’t pack the items properly for the move, the moving company will not be liable for damages that occur during transit. Another thing worth mentioning is that if your employer is paying for relocation, there’s no guarantee that you property is fully covered.
Does your home insurance provide coverage during relocation?
To learn what you home insurance covers, use this checklist to ask questions about
- What coverage do they provide for relocating to a new house and the duration of the coverage?
- Find out whether your home insurance coverage is in full effect during transit – this matters because in many cases cash value basis fails to restore damaged or lost items.
- Coverage for expensive items such as jewelry or fine art should be spelled out clearly. Find out what coverage suits you and consider purchasing additional coverage to secure valuable items.
- In the event that you need to file a claim after the move, find out if the items will be repaid in terms of actual cash value or replacement cost.
When hiring a moving company you can ask questions about the type of coverage they offer.
Here’s what to ask:
- Ask how they determine the value of items being moved.
- Read their contract to find out the estimated value of your property and determine whether it matches with your own estimates.
- Ask about the claims process to learn the steps used if you need to file a claim. Keep in mind that it can take weeks or months to unpack and some of these processes have a time limit.
- Check out all the different coverage options they offer.
At Nice Guys Movers Orlando, we treat your possessions with the same care as if they were our own, we offer unparalleled reliability and razor sharp punctuality for both domestic and commercial relocation services. Get your free quote now! Call us at: 407-326-73111