When you start your moving research, you might run into a lot of information about moving insurance, and a lot of conflicting information as to whether or not you should buy moving insurance, and if it’s even worth it or not.
For all of the information you need on moving insurance and for all of your questions answered about moving insurance coverage, we’ll fill you in on exactly everything you need to know.
Moving insurance as you usually think about it isn’t insurance per se – it’s usually referred to as valuation. Valuation makes sure that you’re compensated and covered for possible damage or loss.
Moving companies usually offer valuation because they’re not certified to do so. This is because they’re not governed or abide by the federal regulations that insurance companies do, so they’re not allowed to offer official policies.
There are usually two types of valuation that moving companies have, and usually differ between local and interstate moves.
One of the available types of valuation is released value protection, which is the most basic coverage option. This option isn’t going to cover your entire move but is usually offered free of cost if you ask for it from your company and sign off on it in your contract.
Another type of valuation is full value protection, which is usually a much more comprehensive coverage than released value protection, but usually requires you to both pays a premium upfront and will require a deductible if you file a claim. Full value protection means that the moving company is liable for the complete replacement of your items that are in your company’s possession.
Full value protection means that the moving company is liable for the complete replacement of your items that are in your company’s possession.
Moving insurance is important to have to ensure that your household items are in the right hands and that you have a backup plan or are compensated in the event of any damage or possible loss.
As we said prior, released value protection valuation is usually available at no extra cost to you, but usually does require you to specifically request it in your contract, and doesn’t cover your full move or high-value items.
Full value protection will have a premium that is a percentage of the total value of your move, and will also have a deductible if you file a claim.
You can also look into third-party insurance to protect your items during a move. Look into whether or not your homeowners’ insurance will cover your move as well, as some policies will and some will not. Do your research and figure out what’s right for you!
No matter if you get moving insurance or not, make sure you’re working with the right movers for you and that you feel confident. So which company fulfills all of those requirements? Use Ray the Mover for all of your moving needs, and learn more about our professional moving company services today.