The Low Down on Insuring Your Annapolis Move
A good Annapolis moving company isn’t hard to come by at all. Moving is a high demand industry and competition is stiff. In such an industry, reputation is everything. It separates the chaff from the wheat. Good Annapolis moving companies protect their reputation by delivering the highest quality service possible. Despite the fierce competition and the lengths a competent mover in Annapolis will go to ensure the safe and hassle free delivery of your goods, moving is always such a huge task that it is impossible to get every move 100% right. Goods will be lost, damaged or even stolen every now and then. There is no stone cold guarantee that that sort of thing will not happen. Insurance is your only protection when it does happen. The question is how much protection does it offer, and is it enough?
Basic liability coverage is the standard “bare bone” insurance provided by Annapolis moving companies at no extra charge. Unless otherwise requested, basic liability coverage covers your shipment on a per pound basis. The rate for short distance moves is $.30 per pound and rate for long distance moves is $.60 per pound. Should an item be lost or damaged, you will be compensated the above mentioned rates, multiplied by the item’s weight in pounds. In most cases that may not be such a bad thing, if you get $1.50 for a five pound plastic chair which snapped during the trip, you aren’t likely to be too upset. On the other hand you would probably be livid if were given $6.00 for a twenty pound Harman surround amplifier that fell off a ramp while being loaded.
If you have some belongings which are pretty valuable, you can opt to declare their value. With declared value coverage, you will be compensated for missing or broken items according to the value which you have declared. There is a catch though: the mover needs to sign off on the declared value. Very often, there is an argument over the value of a lot of items, and third party appraisers have to be brought in to settle disputes. Declared value coverage can thus be time consuming and even expensive.
If you do happen to be moving a lot of items of high value, which are not very heavy in terms of weight, you should definitely look into purchasing additional protection from a moving insurance company. By law, a Moving company in Annapolis is not allowed to sell you additional insurance. Quite simply, the conflict of interest would be too great. Before you go out and get some though, you should consult the realtor who sold you the house you will be moving out of. A lot of houses these days are sold with moving insurance policies bundled in.
Third party insurance uses replacement value rather than declared value. This has a lot of advantages. For one, replacement value is easier to determine, unlike declared values which are often subjective. To expand on the example earlier: under basic liability coverage, you will get about $6.00 for your ruined surround sound video amplifier. Under declared value coverage, you’ll get the depreciated value of the same. So if the amplifier cost you $1,000 when it was bought 3 years ago, it is likely only $600 second hand. On the other hand, a similar brand new unit goes for $950. You will thus get $950 for your broken amplifier under replacement value coverage.
Replacement value insurance can be costly, but for those who’s belongings need special safeguarding, it may just be the only way to go. For those who are just moving a lot of useless old furniture though, it is probably better to go with basic liability. Either way, it will be worth your while to find out which type of insurance will work best for you.
