Moving Insurance in a Nutshell

Savvy consumers do their homework when shopping for professional movers. You want the best service and the best rates.

You also want to know that your possessions are protected. If you are relocating across the country or just across the street, moving puts your items at risk. Moving insurance covers damage or loss to your items during a move. Having the right moving insurance will mean one less thing to worry about during this process.

First, it should be noted that movers are not licensed to sell insurance. So technically, moving insurance refers to a policy of “valuation coverage.” As a rule, professional movers are legally liable for any loss or damage that occurs during the transportation of your items. This liability also extends to any loss or damage that occurs during related services (such as packing) that are included in your signed contract. Federal law requires movers to offer two types of valuation coverage: Full (Replacement) Value Protection and Waiver of Full Value Protection, the most basic coverage available

Full (Replacement) Value Protection
When you choose this level of coverage, the mover is responsible for the replacement value of any lost or damaged item. The mover can choose to repair an item or offer a cash settlement for the repair cost or current replacement value of your possession. Full value protection is the most comprehensive coverage available. It is also the most expensive. Deductibles for this type of moving insurance can also affect the price, so make sure you check with your mover about these details.

Complimentary Coverage/Waiver of Full Value Protection
This coverage is available at no additional cost, but sometimes you get what you pay for. With complimentary coverage, any damaged or lost possessions are valued according to their weight. This minimal protection pays no more than 60 cents per pound. For example, the 30-pound big screen you paid $700 for last month will be reimbursed at $28.

Third-Party Coverage

You might be offered separate liability coverage for an additional fee. If you choose separate coverage, your mover is still responsible for the amount per pound described in complimentary coverage. The remainder of your loss is then covered according to the policy you purchase. The mover provides you with a written record of the policy at the time you purchase it. Every type of coverage has exceptions and exclusions, so it is important to get the details in writing and read it carefully.

When deciding which moving insurance is right for you, consider the value of your belongings and the cost of the insurance. ABC Quality Moving and Storage will answer all of your questions about moving insurance and the process overall. When you hire ABC Quality Moving, we handle your possessions as if they were our own. Call our office today at 636-223-MOVE to get moving!