Accidents can happen when you move. That fancy mirror you had only requires a moment of equilibrium loss to end up in pieces on the floor. Imagine what would happen if you moved those objects from one house to another. The risk could be much greater that way.
About 40% of homeowners moving from one property to another report yearly that their belongings were damaged during transit. While you can’t do much about the actual damage, you may at least get compensation for it. In this case, you’ll need moving insurance to cover that value. This article can guide you on whether or not you need it.
Different Types of Coverage
Moving insurance comes in two coverage options:
Released Value Insurance
Released value coverage is the kind that is automatically added to the costs of your moving efforts. This type of coverage pays compensation based on the item’s weight, not how much you bought it for. Therefore, if the movers somehow manage to break your $2,000 flat-screen that weighs just a little over 30 pounds, you could receive a meager $20 in compensation.
Full Value Insurance
The type of insurance that you pay for yourself, this one covers the actual value of the item. What you need to remember is that the money received will only cover the current value (including depreciation). If you bought something expensive ten years ago and lost its value over time, the movers will only pay the current market value of similar (older) items.
When Do You Need Full Coverage Moving Insurance?
There are several circumstances in which you may need full-coverage movers’ insurance. This can include the following:
1. You Have High-Value or Irreplaceable Items
High-value items could also benefit from moving insurance, as the released value coverage often does not cover it.
For instance, a woman once paid home movers $11,000 to transport her furniture from Cairns to the Gold Coast. Several items, including a unique dining room table, were destroyed, and the standard insurance claim did not help her receive compensation.
2. There’s a Complex Move Ahead
Some moves may require that you go through extensive packing, go down complex flights of stairs, or handle delicate objects. The higher the chances of something breaking during this process, the more you should consider moving insurance. The last thing you want is to stare at a half-destroyed couch at the bottom of the stairs after you hear the movers yell, “Pivot!” for 20 minutes straight.
3. You Are Going Long-Distance
The greater the distance, the bigger the chance that something will get damaged along the way. When going locally, the movers will likely keep a low speed and already be aware of any potholes in the area. However, long-distance moves have more blind spots. Considering that the average highway can have drivers speeding at up to 80 mph, there’s a good chance your belongings might move and break in the back.
What Is Not Covered?
Insurance of both coverages can give you access to compensation if the movers are not careful. However, there are also cases where the drivers may not be held liable:
- You packed your own boxes instead of letting the movers do it
- The damage was the result of an “Act of God” (i.e., a hurricane, fire, tornado, or earthquake)
- You didn’t let the movers know you had fragile or valuable items packed in your boxes
- You packed perishable or potentially hazardous materials without letting the movers know
- You didn’t file the complaint right after the move
Transparency and information are crucial here, so make sure to do your research.
The Bottom Line
Insurance is your failsafe in case something goes wrong with your belongings during the move. You can pray you don’t need it, but if you do, you’ll be thankful it’s there. So, make sure you get the right coverage before the big move. If you have some questions, don’t hesitate to contact with professional movers like A Plus Movers. Expert team will help you and answer all your questions.
