When Selecting a Moving Company:
* Thoroughly review the moving company's terms for insurance coverage.
* Determine the extent of liability coverage for property loss or damage your mover will provide.
* Closely examine the contract and find a section for you to establish the estimated value of your
possessions.
* Determine the maximum liability dollar value of the insurance provided by the mover and the
process involved in case you need to place a claim. However, this does not guarantee that in case
of a claim you are entitled to the maximum liability damage coverage. Factors such as government
regulations, taxes, and laws limit the actual the amount you may be entitled to in case of a claim.
* Realize that the insurance provided by most moving companies only covers a portion of the total
value of your possessions and you will have to get additional insurance to be fully covered.
Insurance Available Through Your Mover:
* Declared value:The value of the things you move is based on the total weight of a damaged item
multiplied by a specific amount per pound (example; $1.75 per LB.). For instance, if your article
weighs 300 pounds the mover would be liable for up to $525.00. Claim settlement is then based on
the value of the item(s) damaged.
* Lump sum value: If you need insurance that is based more on value than on weight you can get
insurance for a specific amount (the amount is variable dependant on the insurance provider) per
$1,000 of value. You must know the value of what you are shipping and make a declaration in
writing on the bill of lading.
* Full value protection:This type of coverage includes lost, damaged, and destroyed property. The
coverage will pay for the repair or replacement of the item(s). Usually there is a minimum coverage
amount and applicable deductibles.
* Free basic insurance: This type of insurance is provided for free through your mover at a value of
$0.60/lb/item. Since this is the minimum insurance available it is always recommended to purchase
additional insurance.
How to Get the Right Insurance for Your Residential Move:
Whether you hire a mover or move it yourself, it is impossible to guarantee that all of your property
will arrive at its final destination in the same condition it started out Damage to your property can
occur in transit (on the moving truck), in storage, and when it is being carried in or out of the moving
truck. Things can be accidentally dropped, dented, or broken by moving men. Most insurance
coverage that can be obtained through a mover limits the mover's liability and will not completely
cover the value of your property if lost or damaged. It is extremely important to make sure that your
possessions are adequately insured before you move.
Create an inventory of all the items you are moving
* What you are moving (sofa, dining room set, refrigerator, etc.).
* The weight of each item you are moving (estimate the weight).
* The replacement value of each article you are moving.
Homeowners Insurance as a Supplement:
Most homeowner insurance policies cover about 10 percent of the value of your personal property;
including coverage for breakage and theft in transit, minus the usual deductible. This can be a good
supplement to the insurance provided by the mover.
Additional information
* If you are moving fine art, valuable musical instruments or antiques, you should consider special
measures to ensure their safety and protect against their loss or damage. If these items are not
covered while in transit by your home policy, you would be advised to purchase additional coverage.
Speak to your mover or homeowner insurance representative.
* In the event that something should happen to your belongings and you have to file a moving claim,
you must do so within (9) months of the event. You should also note the problem on the moving van
driver's copy of the bill of lading before signing it. Your mover will then have 30 days to acknowledge
receipt of your claim. Within 120 days of receiving your claim, the mover must either deny the claim or
make an offer to pay.
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