Discover the Truth Behind Moving Insurance
No matter how experienced and trust worthy your movers are, accidents can happen and you should be prepared for that. Boxes can be dropped or even misplaced. Furniture can fall, and items can shift inside of a crate causing them to break and shatter while in transit.
Types of Moving Insurance
Most moving companies in Florida will automatically provide you with “valuation” for your belongings. This is not technically insurance, but a limit on the moving company’s liability for your possessions as stated in the contract. Check your contract carefully to see which of the three types of valuation your mover has provided you with:
- Declared Value – With declared value, the movers estimate using the weight of your shipment multiplied by a certain amount of money. If something were to happen to your belongings that is the amount the movers would be liable for.
- Lump Sum Value – Also known as assessed value, this is for when you have valuable items that do not weigh much. You will have to purchase additional insurance that specifies an exact amount.
- Full Value Protection – The full value, minus applicable deductibles, of your belongings is covered in the event that anything is lost, damaged or destroyed during the move.
Knowing what your insurance options are when moving in Doral, you can then make an informed decision about what type is best for your situation. To do this, you should first estimate the value of your belongings. Only concern yourself with those items that are significant, like furniture, electronics, appliances, etc. The next step is to estimate how much it would cost to replace each one.
When you are talking with moving companies about pricing, you can use this list to help you determine if they are offering enough insurance to cover the cost of your belongings. Also make sure to check the following before signing your contract:
- The type and how much liability coverage the offer for loss or damage to property.
- How much the estimated value of your stuff is compared to the list that you made.
- What the maximum amount would be if your possessions are damaged.
- How their process for filing a claim works.
Do You Have Other Insurance Options?
If you are a homeowner, you might also have some coverage for your items through the homeowner’s insurance policy. This is known as Goods in Transit Coverage and typically covers about 10% of the value of your personal property.
It is improbable that something will happen to your items when moving, especially if you use a reliable moving service. Yet it is exactly those times when you least expect it that something goes wrong. Protect what you value in your home, by ensuring that the moving company you use is offering you adequate insurance for your belongings.