It’s not out of the realm of possibility that some of your items get lost or damaged during a move. This can happen even when being as careful and mindful as possible. It can also happen when using the most trustworthy movers you can find. Accidents happen, and not all of them are the fault of the movers. Today we will discuss how to pick the right insurance coverage for your move, whether it’s across town or across the country.
Basic Liability Insurance
The most simple form of insurance you can get for your move is that of basic liability insurance. With this type of insurance your items are typically covered at 60 cents per pound, per item. It doesn’t matter what the actual value of your items are when acquiring this type of coverage. This coverage is the same no matter the type of items you are moving. This insurance coverage is usually free.
Declared Value Protection
This moving insurance is a bit better than basic liability insurance. Declared value protection covers the replacement value of an item that is lost or damaged during your move. When calculating the replacement cost, the insurance agent will minus depreciation from the total paid out to you. The agent will ask for the item to be repaired first, if it has been broken, or will try to replace the item based on its fair market value, which means you will not receive money for a newer model item. The cost of this insurance usually goes by the total weight of the items being moved or a lump sum.
Extra Care Protection
Extra care protection is the highest level of protection for your move. If you have this protection, most companies will replace an item for the full cost if it is lost or broken during the move. Depreciation is not taken into account with this type of insurance, which cost is based on the value of the shipment.
