Moving Insurance

Insurance and How it Effects Movers

Moving Insurance Considerations

Most moves are relatively trouble-free, however; accidents and damage to property can and do happen. Insurance coverage is an essential part of the moving process and you should thoroughly research the options available to you. Not having adequate insurance coverage puts you at risk of having your possessions damaged or lost with no way to recover your financial loss. There are two options for ensuring you have enough coverage during your move to protect your belongings and your peace of mind. You may even want to consider using both options to insure your possessions during the moving process.

Secondly, before signing a contract with your moving company, discuss what insurance coverage they offer to their clients. A reputable moving company will have basic coverage included in their fee, as well as additional coverage that is available for purchase. Do not ever sign a contract with a moving company that does not offer insurance, no matter how cheap they are, the lost cost will not make up for the cost, both financial and emotional, that can come from having your possessions, damaged, lost, or stolen during your move. As with your regular insurance coverage, make sure to learn all coverage levels and any premiums you will be required to pay in the event of filing a claim. Be sure to get all of this important insurance information in writing, and have them specify what items may or may not be covered, and under what terms coverage will be provided.

Make sure you have a solid understanding of the terms and conditions offered by both companies before agreeing to anything. Reading the fine print and asking lots of questions is the best way to protect yourself and your possessions while they are being moved. Often certain types of goods will not be covered under standard insurance policies, if you find that you own items of this nature make arrangements to move them yourself or inquire about purchasing a rider to your insurance policy to ensure these items are covered during your move. This may cost a little more but could be worth it if one or more of your items are damaged or lost during transit.

It is also a good idea to make a detailed list of your possessions and in some cases even take photos or video of valuable items should you need to prove damage or ownership at a later date. Often, moving companies won't allow you to file a claim for damage if the item in question was not packed by their employees. If this is the case be sure to take photos of valuable and keep a close eye on moving company packers as they prepare your possessions for transit.

Often movers will ask for a rough estimate of the total value of your possessions. It is absolutely necessary to get this estimated value correct in order to ensure you get the right amount of protection. If you incorrectly estimate the value of your possessions you may end up with a sizeable bill if the moving company loses any of your things or if the movers damage a valuable item. Be sure to check if the movers' insurance policy coverage amounts are calculated using a percentage of moving costs rather than on the actual monetary value of your goods.

In addition to insurance for your possessions, it is also a good idea to make sure your moving company’s insurance covers any damage to the properties they will be moving you out of and into. Most moving companies are very careful and conscientious about their surroundings, but bad things can and do happen unexpectedly, that’s why they are called accidents. Bushes get backed over and walls get damaged, ask your mover if their insurance covers this and again, make sure you get the terms and conditions in writing before reaching an agreement with the moving company. If an accident does occur make sure you notify the mover as soon as you are aware of it, and take pictures to document the damage that was done. This will ensure that you have visual documentation of the damage, and that your claim is processed in a timely manner.

Tips On How To Protect Yourself When You Use A Household Moving Company
By Steadman Issenburg

Regardless of which household moving company you decide to use when relocating from one area to another, accidents can always happen, even with the best movers. So it's important that you are sufficiently protected in case these kind of accidents occur on your move.

The first thing to know is that most moving companies will prepare a document that shows all of the inventory of items that they have picked up at the origin of the trip. This document will not only list the items that they are moving, but also the condition of each item as well. Quite often there are numbered stickers on each of the stored items that correspond to numbers on the list in order to kep it all straight.

Here is where you want to be sure to take plenty of time to go over this document and verify all of the items that are listed as being taken, and make sure that the condition listed is true. Once you sign this document, it will set the liability parameters for the entire move. The next time you will see this document is at the destination where you will be required to again review all of the items listed and verify that the condition at the end of the move matches that found on the document.

At both the origin and destination you need to take sufficient time to carefully review all items and their condition without feeling rushed or pressured. Any claim that you make in the future with regard to any item that was shipped will be compared against the listed condition found in this document and whether or not you approved that condition at both origin and destination.

If a claim does arise, and it's not a particular surprise if that happens, what happens next will depend on the kind of coverage that you have chosen for all of your moved items. This is also another area that you want to give particular attention to before the move even takes place. Essentially, most movers offer three basic kinds of item coverage or breakage insurance.

The most basic kind of insurance that is often included for little or no cost by professional movers pays only a certain amount for each pound that an item weighs if it is damaged in transit. For instance, if you have a 100 lb. item that is damaged, and the mover has agreed to pay $.50 per pound per item, then you will be paid $50 for that damaged item regardless of how much it actually cost originally. Obviously, this kind of coverage can often be wanting in certain instances.

The next kind of coverage is called cash value coverage, and it will pay for whatever an item originally cost minus depreciation. So if a damaged item that you have owned for five years originally cost $300, you will be paid the amount to replace that item that is five years old. The most expensive and best coverage is full replacement coverage, which will replace whatever items were damaged with a brand new item instead regardless of cost. Of course, this kind of insurance will cost more, and you will need to decide whether or not it is worth it.

If you then choose the correct insurance on the items you wish to move, and you actively keep an eye on their condition both at origin and destination, you will be in the best position possible to be well protected when you use a professional household moving company.

Steadman Issenburg writes on many consumer related topics including real estate. You can find relocation services moving and household movers and more by visiting our Real Estate website.

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