As a general rule, moving insurance is coverage purchased by your moving company to cover any of your items broken in transit. However, it should be noted that you, as the owner of the goods to be moved, can purchase additional insurance to cover your most valuable items. You may want to look into moving insurance coverage, especially if you’re planning a DIY move.
Check Out Your Moving Company
Study the recommendations made for your moving company, particularly if something went south. This is especially important if you have fragile items or hard to transport, expensive things such as large pieces of art. You need to know how much coverage they carry and how responsive they are in settling up claims.
Additionally, if your moving company offers a packing service, confirm that they are well-versed in moving precious items. If you’re transporting a rare or valuable piece of art, it’s worth taking it to someone who can create a custom crate.
Valuation Vs. Actual Value
On your moving contract, valuation refers to the approximate value of your items as declared by the moving company. If your things are worth more, you must make sure that the moving company has documentation to back up your valuations and that they can offer you extra insurance, which you will need to pay for.
In addition, your insurance company may offer declared value coverage. However, this coverage is not very comprehensive. In fact, this coverage weighs your belongings and offers you a per pound price of everything you own, then pays out by percentage on damaged items.
Steps You Can Take To Buy Extra Insurance
Consider investing in goods in transit insurance. Generally, this is purchased by a high-end delivery van driving companies. However, you can purchase a personal policy to protect your belongings from damage by movers, loss, or theft. Depending on the distance you have to move, and the value of your items, this form of insurance may be an ideal choice for your move.
Until you leave your old address and once you move into your new space, your homeowner insurance will cover losses from fire or theft, and you may have a policy add on for breakage. However, while your belongings are in transit, your coverage may be uncertain. Depending on what you’re moving, the extra policy may be well worth the expense and could be something you can write off on your taxes.
Final Thoughts
Moving is never fun, but settling into your new home only to find boxes of broken things is heart-breaking. Even the most careful movers can make mistakes, and sometimes gravity just happens inside a moving truck. To make sure that your items are properly cared for and insured, find out from your movers the maximum coverage they can offer for your most precious items. Then consult the insurance agency that holds your regular homeowner’s or renter’s policy and expand as you see fit.