Great, you are finally moving into the home you have been eyeing for so many weeks and have been anticipating what it would be like to live there. So did you hire a mover for the job? We are sure you must have. Indeed, you must consider the essentials such as weight of your belongings and the average costs that can be incurred during the move. Just as important as these things are, so is the insurance associated with your move.
Did that surprise you? Actually, the fact is that even if you choose a mover with absolute care and evaluation, there is always a risk of accidents and you can never precisely forget when they will occur. Sounds worrying? Get yourself insured, and now if there will be any accidents, you will at least be covered.
Moving insurance is not offered by every company. Make sure you are hiring a company for which this is not true; you will also have to ascertain that the chosen mover is efficient and quick in handling claims, provides you with adequate coverage should a misfortunate incident take place, and resolve all issues if any arise during the process.
Insurance can be divided into several different types, depending on the coverage level. Here is a quick look at all of them.
Full Coverage Valuation
If any of your belongings get lost, damaged or destroyed during the moving process, this coverage policy will completely cover you. Depending on the severity of the damage, you will either be paid an amount that is enough for repairs or an amount that is adequate for replacing the item. In almost all cases, there are limitations to the maximum amounts that you will be provided and you may have to bear a few deductibles as well.
Please note that the full coverage valuation is not free; if you want this i coverage, you will have to pay the company a certain amount, and so the overall expenses will be higher.
Limited Coverage - $0.60 Cents Per Lb. Per article.
The limited coverage, also referred to as the released value policy, is offered for free by most of the moving companies, and there are no extra fees associated. While this sounds good, you may not like the fact that this coverage is minimum and you will only be partially covered.
Third Party Insurance
There are some moving companies that offer a separate insurance policy to their clients. Obviously, you have to pay an additional price for this depending on the coverage level you avail. If you opt for this policy, the mover will only be liable for around 60 cents per the weight of the item, but this can vary with your chosen company.
Please note that When you get third party Insurance, you will deal with the insurance carrier directly in case of a claim and not with the moving company.
Homeowners and Rental Insurance
There are some homeowners and rental insurance policies that may cover a move. Check with your insurance provider for more information.