Moving is never easy, and even when taking care not to break or lose things accidents happen.
Ask anyone who has moved before and they likely will have at least one story of lost or broken possessions. No one ever wants to lose anything over the course of a move but it is the nature of moving. That is the reason moving insurance exists.
Much the same as auto insurance exists to protect and repair your vehicle in the case of an accident. Most moving companies offer more than one level of liability insurance for your household items. Additionally, there are also third party companies that offer moving insurance as well. The two forms of coverage that most movers off are “released value” and “full value” coverage.
Released Value is the basic protection that moving companies offer and one of the two coverages that federal regulations require moving companies to offer. Released Value is a set sum of 60 cents for each pound of a damaged item. With released value your family china is only valued for its weight. This is something you need to keep in mind when planning your move.
Full Value coverage provides the company two options with a lost or broken item. The moving company may chose which of the two options that they will honor in the case of loss or damage. Moving companies may chose to have the item repaired to the same condition it was in before the item was damaged. Or they may replace the damaged item with another like it. So,if your Plasma TV is broken in the move do not expect a new LED TV to replace it. They will either repair the TV or provide you with a model of similar make and size.
Some companies may offer additional coverage options this is a good question to ask when you are getting your estimates for movers. Some companies will offer the option of declared value coverages. Under declared value you may set a amount per-pound that you wish to cover your possessions for.
Is Everything Covered?
With valuation type coverages the moving company is not responsible for any and all items that they themselves did not pack unless the box sustains extensive damage. This is something to be aware of if you decided ahead of time to save some time and money on the movers by packing yourself. You belongings are also not covered in the case of natural disasters. Visit changenewaddress.com for to find insured movers near you. While you're here, check out our special offers.