There is always a risk of damage or loss of items during the move, no matter how good the moving company you choose. If you are relocating your family or business, you must buy moving insurance to protect your move. Buying moving insurance ensures you’ll get reimbursement if any damage or loss to your items happens during the relocation process.
There are dozens of moving insurance policies available among hundreds of moving insurance companies. You can avoid moving disasters by purchasing the right moving insurance policy. If you are unsure about which moving insurance to consider, contact us. The below guide will help you decide on the right insurance for your move.
Every moving company is licensed and insured. The liability and insurance coverage they provide is what the Department of Transportation (DOT) requires. As per DOT, a mover requires a $.60 per pound insurance coverage. Thanks to the Federal Motor Carrier Safety Administration (FMCSA), the shipper (you) don’t have to pay additional fees for this insurance coverage. However, this insurance coverage might not be sufficient for you as it is NOT a full value replacement insurance.
Therefore, ask the moving company about the different insurance options they offer. Also, ask if they have a full coverage or replacement option. By purchasing a full value protection policy, you can secure your move. Also, you will not have to pay from your pockets in case of any loss or damage to goods during the move.
Read the available coverage options carefully. The coverage you opt for will apply to any claim for the damaged goods.
- Released Value Protection
- Homeowners Insurance
- Full Value Protection
Released Value Protection (Standard $.60 Valuation)
As required by the Federal Motor Carrier Safety Administration, all moving companies provide this insurance at no additional cost. This policy covers $.60 per pound for damaged or missing items. This insurance is based simply on weight. Therefore, the value of the items has no implication in the settlement amount for the items. For example, you have a photo frame worth $1000 and weigh 10 pounds. In the case of standard coverage, you will get just $6 back.
Homeowners Insurance
Homeowners insurance and renters policies provide coverage above the standard $.60 per pound rate. It covers personal property at your home, in transit, and storage facilities. However, it doesn’t cover the damage to belongings handled by the movers during packing, unpacking, and moving. You may ask for a rider from your insurance carrier to cover insurance of your belongings during the move. It might cost you an additional $50-100. To check if this option applies to you, consult your insurance company.
Full Value Protection
Full Value Protection is also known as full replacement insurance, and one can purchase it through a third-party company. Many movers in Las Vegas, including us, work with third-party insurance carriers to provide full value protection for your belongings. Ensure you get these policies as early as possible because sometimes it may take a day or two to go into effect.
No matter what insurance you choose, you must review your policy to see what applies to a claim. At Move on Moving, we take the utmost care of your belongings and try to ship them to your new home in the safest way possible. But, to avoid unforeseen circumstances, ensure you are ready with insurance.
Buy a Moving Insurance from Baker International (RECOMMENDED)
For over 40 years, Baker International has had the most competitive rates in the market. Of course, the value of any insurance company is how they respond in the event of a claim. No one does it better than Baker International. Claims are settled in-house by a most qualified adjusting team, supported by our extensive network of quality repair and restoration professionals.
You can purchase moving insurance coverage 24/7 directly from Baker’s website: https://www.bakerintl.com
You need to provide them with two things:
- The approximate weight of the shipment.
- Move on Moving’s Baker registration ID number 20492.
