Everything You Should Know About Moving Insurance

Hiring a professional mover is perhaps the best decision you can take when you are planning to move. Not only will this take the stress out of the process, but it can also save you a lot of money that you can incur as a result of mishandled items, improper packing, and accidents.

However, even if you hire professionals, accidents can still occur, which is why it is important to purchase moving insurance. This important even if your relocating within the same city but it becomes even more important when your move is interstate or international.


Basic coverage
By law, every moving company is mandated to provide basic coverage to their clients, especially when it involves out-of-state relocation. This type of insurance is usually of two types. The first is called “released value protection.” This type of insurance only covers a small fraction of the actual value of your item; especially the very expensive ones. Because the released value protection isn’t very protective when a loss occurs, reliable long-distance movers also offer a second type of moving insurance called “full-value protection.”

This is usually based on the valuation of your entire property. In this case, you are required to pay a certain percentage of your valuation and in return, the insurance company pays you the fair or full value of any item that is damaged or lost in transit.

Also, very expensive items must be listed on the shipping documents, else it will not be covered. Listing all your expensive items can be overwhelming, especially if you have a lot of them. However, it is important so that you can be indemnified in the event of any loss or damage.


Expanded mover coverage
Depending on the moving company you have chosen, you can be offered the option to upgrade your valuation to expanded coverage. The advantage is that this type of valuation gives you the chance to state the value of your item per kilo or per pound. In this case, you decide the entire worth of your items and pay an insurance premium calculated based on your valuation.

When you choose expanded coverage, you will be indemnified to the full amount evaluated should there be total damage to your item during relocation.

So while it is important to hire reliable professionals to help you with your relocation, you should also ask questions to understand the valuation options they offer and well your items are protected in case of damage