Moving insurance – is it necessary?
When relocating their homes, people often tend to overlook the importance of moving insurance. In order to have a safe and stress-free move, you will need to learn more about each step of the whole relocation process. Therefore you will be able to make informed decisions, prepare your moving budget, and ensure everything goes according to the plan. In order to help you make the right choice we have prepared a few important guidelines to follow.
All you need to know about moving insurance
Whether you plan on moving on your own or hiring a professional mover to conduct your relocation, you need to ensure your belongings are safe and secured during the process. As moving insurance is not mandatory and moving companies offer a few types of coverage people often don’t bother to research further, usually because they did not prepare the moving budget very well.
In order to choose the best insurance option and choose the best one, you need to learn more about different types of damage coverage and insurance.
- Value protection provided by moving companies.
- Third-party moving insurance.
Can your mover provide you with an insurance option
The very first and most important thing you need to know is that moving companies are not allowed to sell insurance. Therefore they can only provide you with a few different coverage options:
- Basic coverage or released value protection.
- Full value protection.
- Additional coverage.
Moving companies are obliged by the federal laws to offer both basic and full value protection. Released value protection is a reimbursement option that is set 60 cents per a pound. This means that the movers will set the value of your total move by the weight. Therefore any damages caused due to, for an example, improper packing of glassware and fine china will be reimbursed less than a dollar per pound. Even though this coverage option is free and has to be in the overall cost, it might not be the best option for anyone who plans on moving expensive and breakable items.
Full value protection
Another coverage option, moving companies have to offer is full value protection. And it can also be called full replacement value. With this coverage option moving companies have 3 choices when it comes to the way of the reimbursement. However, important fact here is that the movers get to choose which coverage will be provided.
- Your items will be repaired to the same condition before the damage. – A moving company can choose to have your belongings repaired rather than to pay off for the damages.
- A moving company can choose to replace damaged items with ones of comparable value. – Therefore, your household items will be replaced not with brand new ones but rather with an item of a similar value.
- Your mover can pay off for the damages. – Keep in mind that this option only means that they will pay off the amount the is sufficient to repair your items. Not buy new ones.
Additional coverage options
Even though moving companies can’t sell you moving insurance, they can offer some additional coverage options. Expanded movers’ coverage may allow you an option to set an amount per pound for your belongings.
Some moving companies also offer additional coverage. Called assessed value coverage. This option is quite similar to the expanded movers’ coverage. However, with an assesses value you can set the amount per value rather than weight. Therefore you will be able to protect valuable belongings that don’t weight much.
Third party insurance
In order to make sure your belongings stay safe and intact you can consider some additional options as homeowners policy and third-party insurance.
Homeowners policy can cover only around 10% of the overall value of your items. However, even so, we strongly recommend you get more information from your insurance agent. One of the best long distance moving tips we can give you is to get relocation insurance from a local insurance agency. Therefore you can have a total loss coverage. This option can also protect you in a case of fire, water damage etc.
Protect your belongings
Even though moving insurance is an important part of a relocation, you need to make sure you protect your belongings as much as possible. The best way to do so is to hire a reliable and reputable mover. With the help of professional movers who have the necessary experience and skills, you will avoid any damages and moving scams.
Here are a few important steps to follow when searching for the right mover:
- Research the moving companies in your area.
- Contact the most reputable movers.
- Do additional research.
Searching for a mover
There are more than 30 million Americans that move their homes each year. With such a high demand it is no wonder there are many moving companies you can choose from. However, so many choices include fraudulent movers as well. Make sure you find the reliable ones by doing detailed research.
- Find a few reliable movers from your area. -Ask your friends and family for advice and research online.
- Research more about their credentials and reputation. – Pay close attention to their online profiles and website. Search for the reviews of former clients.
- Look for the red flags. – A reputable mover will always clearly state their license number, contact information, and the address. Also, moving companies are proud of their brands. Therefore, a reputable mover will always brand its vehicles, premises and packing materials.
Contact the movers
Rather than just hiring the first move you come along, you should contact a few moving companies. Therefore, you will be able to get additional information on the relocation process. As well as to additionally check their reputability.
Here are a few important questions to ask:
- How long have they been in business?
- What is their license number?
- Ask for more information on their services. Which ones do they recommend for you?
- Get an estimate. Are there any additional fees or hidden costs?
- Can they provide you with some letters of recommendations?
- Can they schedule an in-house estimate?
Don’t trust everything a moving company tells you
Even if you find a reliable mover right away, you should research them additionally. In order to check their information contact the FMCSA. Federal Motor Carrier Safety Administration will have all the information you need. Therefore you will make sure you are hiring a reliable mover that can meet all of your requirements and provide you with the best moving insurance.