Moving Insurance
Moving insurance is something a lot of people aren’t aware of. General principle dictates that a moving company is responsible for everything they move and liable for everything they lose. The reality is more complicated, and if you aren’t selective about your moving company and the insurance coverage they offer, you could wind up losing a lot, without having someone to hand the bill to. How much damage a moving company is liable for is actually spelled out on a document.
Moving companies have moving insurance. Even some houses come with moving insurance. So moving companies are made to pay for damages and losses. However, it is how losses are compensated for where problems occur.
Moving insurance comes in two forms: Replacement value coverage or basic liability. By default, basic coverage packages measure your items by weight; e.g. a four pound lost item will get you around a dollar fifty, whereas a fifty pound lost item will get you about nineteen dollars. Weight is a poor basis for the value of an object. However, if you aren’t moving a lot of light high value items, or if you have chosen to move those on your own, standard basic liability is the most hassle free way to go.
You can also declare the value of your movables. This offers more protection from loss, as you get to declare the cash value of a lost item. The catch is that you and the mover need to agree on that value beforehand.
Whereas basic liability compensates with cash, replacement value coverage means that the mover needs to replace the lost or damaged item with a comparable new one. This is ideal for moving electronic appliances. Rather than get cash value on a depreciated television; one could wind up with a brand new TV. It is not such a good idea though for one who needs to move a lot of antiques.
No matter what sort of coverage you are getting, there are things that you should always do. The most basic is to check the inventory very carefully before and after moving. Carefully note the condition of all items, especially the valuable ones. Paperwork relevant to the move should be in a safe place until the move is finished or all claims have been settled.
After relocating, inspect your items in the presence of the person in charge of the moving crew, make sure that if there are any damaged items that these items remain in their packaging. Should you need to file a claim, you will need to make a list of losses damages and have the person in charge sign off on it. Don’t forget to follow up the claim with the mover the next day, and as frequently as needed thereafter. Moving is always a chore no matter how you do it. However, getting the right insurance can mean the difference between moving your stuff or losing it, which definitely means it is worth the trouble.
