Do I Need Moving Insurance? - Local Moving Companies Answer
With a move to your new home in the near future, one question that might come to mind is if you should purchase moving insurance. Here at L&J Moving and Storage, we hear this question from our clients frequently. It's a very important question, and one we are happy to answer. Our goal is to ensure our customers enjoy a worry-free move. To help you understand the ins and outs of moving insurance, the top moving companies have put together this information.
You Have Limited Protection
If you value your household goods enough to move them to your new home, then they are valuable enough to be covered by some form of insurance. Whether we are moving your household across town, across the country, or across to the other side of the world, the US DOT Federal Carrier Safety Administration says we are liable for the value of the goods we are transporting.
On top of this, the best moving companies like L&J offer two different forms of insurance covering valuation. These are Full Value and Released Value.
Released Value Coverage – there is no charge for Released Value coverage. However, it does put a significant limit on how much the moving company would be liable to pay out should anything being shipped become damaged. According to the law, the movers are only legally liable for $0.60 per pound, which isn't very much. For example, if a $5,000 necklace were to be lost, you might be lucky to get $1.00 for it.
Full Value Coverage – there is a charge for this type of insurance, but in exchange for this, you get extra protection. This is not "moving insurance" but is instead "valuation insurance" and can be worth every penny. This insurance leaves the movers responsible for the entire value of your household goods. They have the choice to repair, replace or give you the cash value of the item in question.
For the most part, you should find that full value coverage will take care of any losses. But, if you are shipping things of high value, you may want to contact your homeowner's insurance company to have them add moving insurance coverage for the duration of your move. This form of insurance does require you to pay for it, and there will be a deductible you will be responsible for. Make sure your policy covers everything properly and enjoy the peace of mind that comes with know your household goods are fully protected.
Have more questions about moving insurance? As one of the top local and long-distance moving companies, we can help. Contact L&J Moving and Storage at (919) 324-3976; our experts can answer any questions you might have.