When moving home, it seems like there is a never ending stream of different things you need to keep on top of. Have you got everything packed away properly? Have you forwarded all your important mail to your new address?
On top of all this, have you thought about sorting out moving insurance? You may not even have been aware it existed, but making sure you have moving insurance is a vital part of making sure moving home is as stress free as possible.
What is moving insurance?
There are a few different kinds of moving insurance. Firstly, federal regulations state that moving companies are required to offer two different types of coverage if you’re moving out-of-state:
Released value protection is the most basic level of coverage that is required by federal law. The coverage is free of charge and is calculated using weight. Basically, this means you will be covered for up to 60 cents for every pound an item weighs.
As you can probably tell, this policy isn’t enough for many people because it just isn’t comprehensive enough. Under this coverage, a very expensive laptop that is damaged will be covered for less money than a large hardback book, just because the book weighs more.
Full-value protection is also required by federal law, but this policy has to be purchased. This policy is generally much preferred over released value protection because it offers current market value, replacement, or repair if any of your items are damaged.
Some moving companies may also offer optional insurance that you can purchase. This separate liability insurance pays out for the amount of insurance purchased minus the basic carrier liability of 60 cents per pound, which is paid out by the moving company.
If I already have homeowner’s insurance will I be covered?
This question doesn’t have a direct answer, other than saying: it depends. Different homeowner’s insurance policies offer different levels of cover, some of which cover goods when moving home, whilst others will not.
It’s also worth bearing in mind that most homeowner’s policies that cover moving insurance don’t offer anywhere near as comprehensive a level of coverage than if you take out a separate policy.
Never just assume you are covered, always check and make sure you know exactly what position you’re in, avoiding any nasty surprises.
Won’t my moving company already be insured?
While many moving companies will advertise that they are fully insured, often this means that the moving company is covered, but not the customer.
Basically, companies will have general insurance that covers themselves, but won’t take into account the exact value of your goods, and also won’t cover you for any goods that are damaged outside of the removal company’s control.
Do I need moving insurance?
This is a fairly loaded question, and while you may want to save money by foregoing moving insurance, we definitely recommend making sure you are covered.
Think of it the same way as travel insurance or homeowners insurance: you don’t need it… until you do, and when you do need it, you don’t want to be caught without it.
To find out more about how to make your moving experience as stress free as possible, visit Express Moving and Storage today!