It doesn’t matter how well you pack or how well the mover drives, accidents can and do happen when a move is in order.
Considering all your belongings will be packed into the back of a truck for a stranger to haul off, it’s a good idea to consider the insurance options available while looking at different moving companies.
While insurance shouldn’t be the first and only consideration when looking at moving companies, it’s a big question to ask. Most moving companies have insurance to protect themselves (and you) should your goods be damaged or loss during a move, but they might not have enough coverage to make you comfortable. These companies will provide a form of insurance built into the contract to help cover you and them in the event of a problem. However, this isn’t really insurance and it might not cover the full value of the goods being hauled.
Before settling on what the moving companies offer alone, it’s a good idea to find out:
- What the different moving companies offer. Some moving companies will offer to cover up to a certain price per pound being hauled. If you have 100 pounds of goods at $1 a pound, but there’s an antique vase in the mix worth $2,000, the coverage is likely not good enough. Some moving companies might offer full value protection, however. This will likely be sold as an add on to the contract price and it might even be a legitimate temporary insurance policy that covers the full value of the goods in the event of damage, loss or theft. If no other form of insurance is available, this could very well be worth the extra price.
- What your insurance covers. Anyone with homeowner’s or rental insurance might find they are already covered during a move. If this is the case, the need to buy extra insurance or rely solely on a moving company's offers won’t be necessary. It is smart to find out from your agent, however, what’s covered and what’s not. While replacement value might be offered in your policy when the items are at home, the coverage might drop a lot while your belongings are in transit.
While no one wants to consider the bad things that can happen during a move, it’s a good idea to take a deep breath and do so anyway. Moving insurance can help cover your possessions and give you a little peace of mind. Check with the various moving companies you get estimates from to see what they offer and don’t forget to see if you’re already covered before the big day.
More on Moving Companies, Insurance and Movers Valuation
Be sure to see our Moving Insurance and Valuation article for more details on what moving companies and your insurance companies may have available for insuring your move.
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