Guide to Moving Insurance
Moving insurance can relieve homeowners of their relocation stress.
Moving homes can be overwhelming for most residents, especially over a longer distance. Homeowners stress over whether their belongings will get to the correct destination and if they’ll be safe or damaged. However, most overlook moving insurance until they face these issues.
Keep reading to learn what professional moving insurance covers and what to expect.
Full value protection
This is one of the primary coverage types that moving companies must provide by law. The value of this policy varies with the monetary value of a homeowner’s belongings being shipped. If an item gets damaged, stolen, or lost, the company can replace or repair it or offer repayment equivalent to its current market value.
However, the cost of this policy depends on the moving company that homeowners select to work with and the deductible amount they choose. Remember, the cost of this insurance doesn’t include the transportation costs. Residents with high-valued possessions should list them in the shipping documents. Those who fail to do so can lose out if the company chooses to limit its liability. Experts highly recommend buying this coverage.
Released value protection
Homeowners who don’t want to pay extra during relocation should subscribe to this policy. It’s automatically included in the moving costs. However, the compensation that residents can receive from this insurance is minimal. Movers only pay up to 60 cents per pound for every damaged item.
Residents must sign a waiver to confirm they’re forgoing their full value protection. Even though it’s required by law, this option isn’t ideal for homeowners with luxury items as it’s based on the weight of each belonging. It’s best to ask about all the policy details to avoid significant risks to precious collections. It’s also best to let movers pack the belongings as you are assured of their liability this way.
Separate liability insurance
Some third-party insurance providers offer additional coverage during relocation. Homeowners can also choose to buy it separately. This is the most expensive package. Residents pay up to five percent of their shipment value. But it also offers the most protection. It can also cover extraordinary value items not included in full value protection insurance. Homeowners can buy both policies to cushion themselves during a risky move.
Protect your belongings
Moving insurance can relieve homeowners of their relocation stress. Even though homeowners do their best to protect their items during packing, safety isn’t guaranteed. Moving insurance helps assure property owners that even though their belongings aren’t in their control, they’re protected against loss and damage during transit.
Homeowners should contact licensed insurance providers to see whether their policy covers movers. If not, they should obtain a separate policy for the move.
Miranda Delivery Service offers moving services across Arizona, interior design moving and storage, furniture delivery and assembly, and commercial storage. Call 480-389-5928 today!