Moving Insurance: An Essential Safeguard for Your Move
There are several ways to protect your household goods during your move. Most moving companies may offer ‘free liability’ (known as $60 per lb. per item, or valuation coverage) but be warned that these options are not the same as insurance. They are required to be offered by DOT, state or federal laws, and don’t provide a complete coverage for your goods.
Some homeowners or renters insurance policies offer a very limited protection for your goods in transit or storage, but please don’t assume your move is covered. Check your policy carefully and look for any exclusions.
When you move, we recommend you get moving insurance. That way, if anything happens to your belongings while in transit, you’ll be covered to the full extent of the insurance policy. This third-party moving insurance is the best option to ensure that your valuables are safeguarded throughout your moving process.
Here at Delta Moving systems, we partner with one of the most well-regarded moving insurance providers in the industry, Relocation Insurance Group, to provide this coverage for our moving customers. Their policy is underwritten and backed up by top insurance companies and managed on their MovingInsurance.com website.
Is Moving Insurance Worth The Added Cost?
Moving insurance has a cost attached to it, but before you decide to skimp on moving insurance, think about everything that can go wrong during a move. While your belongings are in good hands with us, accidents do occasionally happen. Whether you’re moving across town or across the country, all your belongings need to be packed and transported. During that process, furniture can be scratched, electronics can be broken, and other items can be damaged. Some losses – like those caused by bad weather, car accidents, fire or theft – can be especially hard to control.
When you have moving insurance, your stuff is covered, so even if in the unlikely event something goes wrong, or an accident happens, you can get your new life started in your new home as quickly as possible. Moving insurance also provides peace of mind – something that’s greatly appreciated when you’re stressed out by all the other aspects of moving.
Different Types of Moving Insurance Will Give You Different Levels of Protection.
- All risk moving insurance gives you the most coverage and is the most comprehensive policy offered by Relocation Insurance Group. This policy type covers everything that can wrong during a move, from a single broken vase to the complete destruction of all your belongings, minus anything specifically excluded in the contract. it covers a human error or acts of God. To obtain all risk moving insurance, you’ll need to have your belongings packed and moved by professionals.
- Total loss insurance covers your belongings in the case of an event that results in everything being lost or destroyed. This does not protect you against damage to individual items, but it does protect you from total catastrophe.
- Named perils insurance provides coverage against specified risks caused by disaster and acts of God. Depending on the contract, these risks could include events such as fire or theft.
- Valuation is not the same as insurance, and you should not depend on it to give you the coverage you need to replace lost or damaged items. Valuation refers to the liability a moving company will accept for your belongings, and it is typically 60 cents per pound – much less than the actual value of the goods you need to replace. So, to do the math, if your television weighs 100 pounds and is broken, valuation coverage would pay $60. The reimbursement is based on the weight of the item, not the actual value. Do not assume that you’re protected because your moving contract includes valuation coverage. Make sure you obtain real moving insurance coverage. When in doubt, find out exactly what’s covered and for how much.
- Full Value Protection is also a form of coverage but not an insurance product. It is a protection plan, for a fee, managed by us, the movers, based on guidelines listed on our Bill of Lading, and may not be completely adequate for move and type of belongings you own.