Moving company insurance– Are you thinking about moving company insurance when you plan to move from your old house to a new one? Indeed, this can be beneficial for us since no matter we have been really careful, accidents may happen unknowingly. Boxes may be dropped or shift during the transit. No one can tell us for sure the number of goods when they arrive at the destination.
That’s why we need to keep our possessions protected and it is time to consider the amount of coverage and if the making claim will be easy or not.
About Making Claims
We cannot avoid accidents while moving. So, willy-nilly we have to file a claim. First, we are to sign the inventory sheet, but make sure that the facts are reported in detail on the original inventory sheet.
In case, the damage is found after we unpack the loads, we can just file the claim within 8 months after the goods are successfully delivered.
All damage has to be sent immediately. The receipt of the claims has to be acknowledged during 30 days by the mover. The mover has to be decided within 120 days either it is denied or accepted.
Before we go further, moving company insurance is not really “insurance” like what we know in auto, home or commercial insurance. Almost moving companies provide “valuation”, the approximation limit of liability that has been stated on the bill of lading or moving contract.
However, we cannot just conclude that valuation has something to do with the actual value of our goods. Even, in many cases, valuation and actual value are not related each other. Thus, in order to be sure that the goods are sufficiently covered, we need to know the types of valuation.
There are three types. First is declared value. It is the total value of the goods or possessions that are counted based on the overall weight of the shipment after being multiplied by particular amount each one pound.
Make sure moving company insurance (valuation) provides this if you need it. This type is the opposite of the first one. Assessed value is based on the how valuable the good is, instead of weight.
Last, it is full value protection that covers lost, broken or damaged property. If your possessions become damaged or need replacement, all will be covered. The amount of minimum coverage and applicable deductible apply here.
How to Get Moving Company Insurance ?
We normally want a company that has low rates but suits to our needs. There are a lot of companies available in the US, but if we want the one that offers lower rates and suits to us a lot better, we had better get our local moving company.
To get lower rates, we have to keep the reliability factors and the goods’ safety in mind. We need to understand that size of the vehicles and distance of where we are going to move will affect the cost of valuation.
Each moving company insurance offers may have different cost, but we just go the lowest one, we may not be able to find a reputable company. Make sure we take reputability, reliability, safety of our goods and prompt delivery into account.
Once you think a company is a good one and you feel it so, you have to determine what type and amount of liability coverage that the company provides for any property damage and loss.
Also, check the contract carefully, especially the estimated value of the goods and match them to the list you already make. The maximum value has to be determined in case we need some replacement of our possessions.
Moving company insurance can be useful, but it is not mandatory to have it. Considering that we must have broken or damaged passions while transporting, valuation that the company provides become needed.