Fine Art Moving
Interstate Moving Insurance & Moving Insurance Tips
Were we to go by general principle and common sense, a moving company hired is automatically wholly responsible for everything they move and one hundred percent liable for everything they lose or break. The reality is far more complex, and if you aren’t careful about your moving company and the insurance coverage they offer, you could wind up losing a lot and getting nothing but peanuts for it. How much damage a moving company is liable for is actually specified on a policy document in no uncertain terms.
While moving companies and even some homeowners groups do provide moving insurance, the standard coverage they provide is often limited, and if you would really like to safeguard your investment in you possessions, you should seriously consider getting more protection, lest you end up holding a bag of nickels and dimes for your smashed BlueRay player.
There are several types of coverage available, each has its pros and cons, depending on your budget and the value of your shipment. The most comprehensive type is full service. Full service provides cash compensation based on the replacement values of items you declare. Replacement value is the cost to replace an item, not necessarily the current value of the item. For example, you own a 5 year old flat screen TV, which you bought for $500, since it is a used TV its value has likely depreciated to $300; however, a comparable brand new one is $700. The replacement value is then $700. This is essential for those who have a lot of expensive electronic equipment, particularly since basic liability provided by most movers usually recons by weight, and expensive electronics are relatively light for their value.
Then there is Full Service named perils coverage. This is the same as full service except that you will only be compensated for losses or damages which are caused by very specific circumstances which are listed down explicitly in the policy. Any losses caused by circumstances not listed will not be compensated.
Mobile storage covers your belongings only in transit or in storage. Any damages or losses that occur while goods are being packed, loaded or unloaded will not be covered. This is often a good cost effective option for people who would like to do pack, load and unload themselves. Named peril coverage is applied, but again only provides for transit and storage. Truck rental coverage is the same as mobile storage coverage except that in truck rental coverage you do the driving. The insurance only covers your items, not the trucks or the people who ride in them.
Finally there is total loss only insurance, this covers your belongings only from catastrophic events which result in a total loss of all your belongings. This is the best option for people who don’t have a lot of valuable possessions, and who would rather move valuable items on their own, in their own vehicle.
Whatever your need and whatever your budget though, it is always wise to back up whatever insurance coverage your mover provides with additional protection. Bear in mind most of your household items are just meant to be kept in houses, they were not designed to withstand the rigors of moving, and while movers take great pains to make sure your belongings are secure, you never know what will happen. In the end, there is no such thing as too much peace of mind.
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Moving can be a very stressful event when you don’t plan ahead, so don’t waste more time and get started planning your move