Anything can go wrong when moving: from misplaced boxes to broken furniture, the risk of damage or loss is very real. While most people are concerned with selecting a good moving company and packing their belongings, few individuals give any thought to move insurance. Moving insurance can be the most important decision you make in protecting your possessions.
What is moving insurance?
Moving insurance is basically coverage against damage, loss, or theft that may occur to your goods during transit. While most professional movers do take good care of your goods, accidents do happen. Without proper insurance, you may find yourself liable for repairs or replacement in case of any damage.
Types of Moving Insurance
There are varying types available, and the differences are important to understand. Basic liability protection is required by law for all movers and provides only minimal coverage. For most, this translates into about $0.60 per pound of your goods. This could be okay if you are moving some inexpensive items, but it is not going to begin covering it if that nice flat-screen TV gets broken.
You may select full value protection if you want more comprehensive protection. This is to say that if any piece of your goods is either lost or damaged, it becomes the liability of the moving company either to repair the item, replace the item, or compensate in full for the value. A number of customers buy third-party insurance, too, particularly when one is moving really expensive or irreplaceable items.
Why It’s Important
Even with the best planning and most reliable moving company, accidents can still occur. Trucks get into accidents, weather conditions delay the process, and even the most cautious movers may drop a box. Moving insurance provides you with cover against any eventuality should something go wrong, so that you are not left digging into your pocket to cover the extra costs. It puts your mind at rest and lets you get down to settling into your new home rather than bear losses.
How to Choose the Right Coverage
The kind of coverage you want depends on what you’re moving and your personal risk threshold. If you are only moving around the block and your stuff is pretty much replaceable, basic liability will do. If you are moving across the country with a number of your more expensive possessions, then full value protection or third-party insurance might save you from huge financial loss.
In addition, always check the credibility of a moving company to ensure that it is licensed and insured. This way, you will be sure that your moving company is credible and will execute any promise in case something goes wrong.
For many, moving is a very frustrating process, and the right insurance coverage can make the task a little less painful. It’s much easier to focus on the excitement of a fresh start—whether that’s across town or across the country—if you know your belongings are protected.
