Why Buy an Insurance When Moving
It is very stressful just imagining your things being transported from one state to another. You have all your valuable belongings in the hands of someone you don't really know. Even if the company is known as the best one and has the longest experience in this area, you know that everything could happen and cause damage to your items.
There is only one way to protect your stuff and it is to buy an insurance. Because they are expensive and many people prefer to save more money , they risk losing their stuff for which they cannot be compensated.
The movers you choose to transport your belongings will be responsible for your stuff, but there are different types of liabilities. In order to choose the best one , you need to know all the types of insurance and when they can be used. Keep in mind that , most companies offer you a valuation , which is not quite the same as insurance, although it has the same idea, to protect your stuff. Generally, there are three different types of valuation: Full Value Protection ,Released Value Protection and Total Loss.
Which one to choose?
Full Value Protection
This is the most comprehensive and thorough coverage. If you are using this type , your mover is held responsible for each item packed for transportation. In case something gets lost or damaged your mover can: repair the item if it is not completely damaged , replace it or pay in cash. Although , this plan does cover all your items, you have to get information for what price will the mover assume liability. When choosing the moving company, make sure to ask questions and find out everything about full value protection. Given that it is a thorough coverage , you should expect it to be more expensive than the other types. This is why, before purchasing you have to decide what your personal needs and requirements are about your stuff. Will you be willing to pay more money but have your belongings fully protected, or you rather save some money.
Released Value Protection
If you cannot afford to spend more money on valuation , you can chose released value protection. However, keep in mind that, under this plan protection is minimized. According to the regulations which apply for this type, the mover will be liable for no more than 60 cents per pound.
Assessed Value Protection
If the two types shown above do not comply with your requirements, you can buy a separate mover insurance as an addition to released value protection. The mover will still be liable for 60 cents per pound , but if something is completely damaged or lost, the company has to compensate by paying the exact buying price of the item. You can buy this additional insurance from the moving company or through an insurance company.
The last valuation which you can choose is the total loss coverage. As the name implies, this type only applies when your stuff are completely lost. You will not be covered for a couple of items missing, but your whole luggage must be lost for you to be compensated. Believe it or not, the total loss is not an uncommon thing in transportation. Everyone knows that all kinds of accidents can happen or your stuff could be stolen. In order to be sure that you will be at least compensated for your belongings, use this type of coverage.
These are the three most commonly used types of coverage. Having enough information about each of them can help you make the right choice.