Do I need insurance during a move?

Do you need to insure your belongings during the move to a new home?

Most homeowners policies don’t cover your property during a move, although some will.  Give us a call to figure out whether your policy does or not.

Moving companies are required by law to offer at least two options for covering damage to your property during a move:  released value coverage and full value protection.

Released value coverage (basic carrier liability) – the most basic coverage required by law, it is based on weight, and will pay up to 60 cents per pound for your belongings.  This coverage should come free with the moving service, but is not particularly effective for small, high value items like electronics.  Purchasing extra insurance on top of this is often recommended.

Full value (or replacement) protection – this insurance, available for purchase from your mover, will pay out the replacement value of damaged belongings, or the amount it would take to replace them with similar items or repair them.  It’s a good idea to check how the moving company determines the value of items if you purchase this insurance.

Some movers offer separate liability insurance, which pays for a purchased amount of insurance minus the amount that the moving company would pay out for basic carrier liability in the event of damaged items.  Make sure to review the coverage amounts carefully if you purchase this insurance.

If you choose to move your belongings yourself, in your own vehicle, your possessions will most likely not be covered by your homeowners policy.  However, truck rental companies often offer insurance that will protect the truck, it’s driver and passengers, and the cargo, depending on which coverage you choose.

If you are using movers, it’s a good idea to make a moving inventory list of each item and it’s condition before being loaded onto the truck.  In the event of damage, the inventory list will help prove that the item was moved by the moving company and damaged during transit.  Before and after pictures are also helpful, and can help ensure that claims are paid out promptly.

Give us a call if you have any insurance questions about your upcoming move.  We are happy to help!