Things to know about Moving Company Insurance Coverage

Moving can be very stressful and time consuming task, whether you are moving local or long distance on your own or with the help of moving company. If you are planning move your office or home to another place, you need an experienced moving company’s help. If you are looking for moving company, the first thing you need to do is make sure that they offering insurance coverage policy. So it is your responsibility to protect your belongings from damage.

If there is any accident or your valuable goods are damaged for unexpectedly while on your move, then you will be reimbursed. How quickly and how much you are reimbursed is matters upon what type of insurance you choose from the moving company.

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Basic Coverage

All the moving companies are required by federal regulations to offer two types of insurance coverage to their customers when they choose long distance move. The first coverage is called “released value protection” and it is set at 60cents per pound. Released value protection is less costly, since it is offered no additional charge beyond the agreed moving fee.

Full Replacement Insurance

Full replacement value insurance is another type of insurance which is not required by law and costs extra to purchase. Many of the most reputed moving companies offer this insurance converge to their customers which covers full value of every item you mentioned in the register. This is the costliest insurance coverage; if you decide all of your goods being shipped are worth $50000 you would pay $500 for full value protection.

Market Value Insurance

For this coverage, the insurance company offers the present market value of the damaged or lost item is used. This is not replacement value; it is the actual value of that item whether it is out condition or new condition. Sometimes it is very difficult to properly calculate the correct value, whether from the point of view of moving company or customer.

Insurance Not Covered

In the valuation of coverage, movers are not responsible for items in boxes they did not pack. Unless the box shows damage, you are not likely to be covered for the damaged inside the box. And also the insurance policy not covered for natural disasters such as fire, hurricane, windstorm, hail etc. Many reputed moving companies offer best insurance options for their customers.

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