Moving to another city or state can be an overwhelming task. You will have to transport your valuable and fragile belongings. Although the movers know how to handle them properly, some incidents of breakage and damage are beyond anyone’s control. To make sure that you will be able to recover or have your lost or damaged valuables replaced, you must have your belongings insured. When you move them on your own, you can buy a moving insurance for your protection. But, when you hire a moving company, you have several protection options.
What Is A Moving Insurance?
Just like other insurance coverage, moving insurance will protect all your belongings during a move. The law requires moving companies to be liable for the loss or damage of the items that they are transporting. However, the law does not specify the extent of the coverage. Hence, companies that engage in the moving business offer their clients several options. Of course, the more protection you need, the more expensive the fees become.
Protection Options Offered by Moving Companies
Here are the different options that moving companies offer to their clients:
This option offers clients full replacement of their lost or damaged properties. The full value of the items to be transported must be reflected in the moving cost estimate. Full replacement value protection is the best option but it can increase your moving expenses.
For customers who cannot afford the high cost of the full valuation, this protection costs less. Under the released value, the value of the items is set at $0.60 per pound regardless of their monetary appraisal. For an item that weighs 20 pounds, you will get $12 if ever the movers lose or destroy a customer’s property.
Third-party insurance coverage
The third option is to buy insurance from a company that sells this type of coverage. When something happens to your belongings, you can get compensation from the moving company and from the third party insurer.
If you think of moving now, consider all your options with regards to the protection of your belongings. The extra amount that you spend will keep them safe and sound when they arrive in your new home.