Why Buy Mover’s Insurance?
Do you want to protect your stuff while moving?
Unfortunately, there are many things that can go wrong during a move. Possessions can be dropped; rain can unexpectedly drench boxes; or the moving truck can be involved in an accident on the highway. Any of these could render your possessions worthless.
To truly protect your possessions while they are being moved, you should get moving insurance.
What Is Moving Insurance?
Moving insurance protects your possessions while they are being moved, whether in your house, on the road, or on your new driveway. If your possessions are damaged, the insurance company will pay you an amount equal to the loss. So, at its most basic, if you have a $500 vase that breaks in the moving van, you will get paid $500. However, all policies are different, and you should read any policy carefully before agreeing to it.
Three Types of Moving Insurance
Homeowner’s Insurance – If you have homeowner’s insurance, check your policy or talk to your agent to see if moving is covered. Often moving isn’t covered in homeowner’s policies because your possessions are in the hands of the moving company; however, all policies are different.
Moving Company Insurance – Moving companies are automatically responsible for damage to your assets up to a set amount, like $.30 per pound, depending on the state and the company. However, this amount of coverage is nothing when you’re talking about a $1,000 flat screen TV or a $300 handcrafted vase, which cost a lot more than $.30 per pound.
Moving companies also offer separate guarantees that they will replace the value of damaged assets. This insurance is offered at a price, and you will need to talk to your moving company if you are interested in this protection. If you do agree to a policy with your moving company, make sure that the policy lists the assets you want covered.
Moving Insurance Company – There are many insurance companies that offer moving insurance, which will cover the price of your assets up to a certain amount. The more you pay, the higher you are covered. These policies are often fairly cheap, but considering a move is only a day or two, you might find even those prices a little steep.
To find out more about mover’s insurance, contact your homeowner’s insurance company or talk to your moving company or realtor.
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