Moving is an expensive and time-consuming endeavor; no matter how careful you may be in planning and carrying out this undertaking. And even with due care taken there’s always the risk that something goes awry along the way.
Your belongings can be protected against damage and loss when moving thanks to moving insurance; however, there are some things you should keep in mind before selecting which type of policy best meets your needs.
Coverage Options
Contents
Moving is a time when there is much to consider and consider your options when it comes to insurance – release value protection, full value protection and third party insurance are the three primary coverages to consider based on risk tolerance and can help ensure a smooth journey.
Moving companies typically provide basic coverage called Released Value Protection as a requirement of federal law; quotes from moving companies automatically include this coverage.
Your protection may include up to 60 cents per pound for damages to your belongings; so if a one-pound digital tablet costs $500 and gets damaged, only $3 would be awarded (60 cents * 5 pounds).
Some movers offer additional liability coverage through a third party insurer at an extra cost, which may be beneficial if your items fall outside the scope of released value protection.
Exclusions
Good news is that most moving companies provide some sort of coverage. Policies vary but will typically cover items lost or damaged in transit.
A third-party policy purchased directly from an insurance provider will likely provide adequate coverage of items damaged during transit as well as providing other advantages like compensation for spoilt food or emergency medical expenses.
Moving insurance may be expensive, but it could save you big in the long run. The total cost will depend on several factors including your deductible and value of belongings, so getting quotes from several providers before making your choice will ensure you know exactly what coverage there is available to you and what doesn’t cover you. Be sure to read all policies closely so as to be fully informed as well.
Claims Process
Moving insurance provides valuable protection against items damaged or lost during a move, but when filing a claim it is essential to understand exactly what steps need to be taken and the claims process works.
Documenting damage by writing about it and taking photos as you move items will give your claim more strength.
Next, contact your insurance provider and request their policy on damaged items during a move. Additionally, notify the mover of the damages as soon as possible.
Once you have all the required information, filing your claim should be easy. Filing must occur within nine months from when your items were delivered – start this process as early as possible so you receive all of the required paperwork from the moving company and stay ahead of your deadline!
Documentation
No matter if you’re moving into an apartment or high rise condo, building management may require proof of insurance for your movers. They might ask to see the COI, which identifies both them and their equipment with whom the insurer has covered them.
Most moving companies will happily provide you with this document as part of their service, making it easy for you to verify whether or not they have all necessary insurance and equipment available to them.
Documentation such as certificates are essential when filing an insurance claim to ensure full and on time payment of claims – especially if you opt for more costly full value protection policies. Certificates should include pictures of the carrier’s insurance representative as well as brief coverage descriptions from them as well as their name, number, and email addresses so you can reach them easily if need be.
