Moving is an exciting but risky business. Let’s be honest — even the most careful people or most reputable moving companies can have accidents. Boxes rip, movers drop things, furniture slips, catastrophes happen. The occasional accident is inevitable. So, that’s where moving insurance comes in.
Moving insurance helps protect you and your belongings from damage and loss. But, there’s more to moving insurance than meets the eye. Before you sign your name to an agreement, it’s important to understand your options.
Options for Mover Company Insurance
With any move, your have three options for moving insurance. These options are: standard valuation, full replacement coverage, or going through your homeowners insurance.
When moving with us at Ameritex Movers, we automatically cover you with standard valuation. This type of insurance has a standard rate, set by the industry, of 60 cents per pound. For example, if we damage your 100-pound sofa worth $1,000, we will pay you $60 (.60 x $100), but not replace it. However, you should keep in mind that this coverage may not protect certain items.
Even though we have less than a 1% damage claim rate, we highly recommend you purchase insurance that covers valuable or delicate possessions. An option for this is to move or transport these specific items yourself, rather than paying for additional coverage.
To prevent complications, contact either company at least 48 hours before your move date to obtain and bind coverage. Both companies offer a quote for 100% replacement cost coverage. Bakers International and Moving Insurance are independent insurance agencies, and are not associated with our company.
Third-Party Moving Insurance
If these moving company insurance options aren't for you, you can always go through your home insurance. However, the downside is that most homeowner policies only provide coverage for items while in the house — not during transport. While it’s typical for some policies to provide coverage for 10 percent of belongings not in the home, it never hurts to contact your agent to weigh your options.
If your current provider doesn’t offer movers insurance, he or she may be able to refer you to other companies for third-party coverage.
Moving Company Liability
The U.S. Department of Transportation Federal Motor Carrier Safety Administration states all moving companies must be registered. This helps you protect yourself from dishonest movers. It also prevents movers from claiming they have no responsibility while your belongings are in their possession.
Planning your next move and have more questions about moving insurance? Call us today! We are happy to talk you through the process.