Moving Insurance
If you’re getting ready for a relocation, especially a long-distance move, one of the first things you worry about are your belongings! When you see the movers you’ve hired place all your packed belongings and furniture in the truck, you’re concerned about whether or not everything will arrive to your new home in one piece. It’s actually very common to think this way. Thankfully there is moving insurance you can purchase to calm your anxiety. Just like health insurance, moving insurance safeguards your possessions, so you can sleep peacefully at night until everything arrives safely. The Match Up Movers are here to share what you need to know about moving insurance for your upcoming adventure.
Two Required Policies
Under federal law, moving companies are required to offer two types of coverages for customers on out-of-state moves. [1] Basic coverage, also known as Released Value Protection, is the most economical choice out of both types of moving insurance. Although there is no additional charge, it’s important to emphasize that coverage is minimal. With basic coverage, your mover is only liable for no more than 60 cents per pound per article. For example, if your move loses or damages an 8-pound flatscreen TV valued at $700, you would only receive $1.80 (60 cents x 3 pounds). So, when you sign the dotted line, remember the Released Value Protection only reimburses by the pound, not the article’s value.
The slightly pricier, but more protective alternative would be Full Value Protection coverage. With this coverage, your mover will be a lot more liable for the replacement value of any lost or damaged articles during the relocation. Should a moving company lose or damage any of your articles while in their care, they must do one of the following per article:
- Repair the item
- Replace with a similar item
- Give a cash payout for the cost of repairs or the items’ marketplace value.
What Moving Insurance Does NOT Cover
No matter which moving insurance policy you choose, it’s important to remember it doesn’t cover everything if you do any of the following:
- Pack perishable, dangerous or hazardous items without your mover’s knowledge.
- Pack your own boxes: DIY packing might seem like the most cost-effective relocation task, but if you pack any damaged valuables, it can be that much harder to hold your movers liable for boxes you packed.
- Failing to file a claim on lost or damaged items on time: If you’ve waited over nine months after the date of delivery to file a written claim, it will invalidate your coverage.
Match Up Movers Have Your Back Up
No matter if you’re moving down the street or across the country, the Match Up Movers can help you move into your new home. Our full-service moving company has years of experience and the skills needed for a successful move. To get started on a smooth move, contact a mover on our team today!
Sources:
[1] Federal Motor Carrier Safety Administration – Understanding Valuation and Insurance
