What are the reasons to get moving insurance

by | August 12, 2019 | FAQ

liability option
There are many things that can go wrong during a relocation. From accidental damage to natural disasters. And you are probably wondering what happens if your items get lost or damaged in transit. After all, it’s not easy handing over your entire household to strangers. And you will, of course, worry about the safety of your belongings. And so, there are many reasons to get moving insurance. The most important being at a peace of mind. But, there are also many other reasons worth considering.

Do moving companies provide moving insurance?

The answer to this question is not as straightforward. While all moving companies are liable for the items they are transporting, the actual liability amount depends on the liability option. And it will determine how much you will be compensated in the event that something goes wrong. But, that is by no means the same as moving insurance. It only covers a fraction of the actual value of your belongings. And so, it’s one of the reasons to get moving insurance. Especially if you worry that something might get damaged. 
liability option

Moving insurance is one of the best things you can do if you are relocating

1. Basic value protection

Basic value protection is the most basic type of protection that you and your belongings get. A great thing about it is that it’s free. But the downside is that it covers just a fraction of the items’ value. In case something is lost or damaged while handled by the movers you will be compensated a small amount. That amount is $0.6 per pound per article. That means that if your laptop gets damaged during the local move you will be compensated 60 cents for every pound it weights. For most laptops that would be around $3. Definitely not enough to cover the damages. That’s one of the reasons to get moving insurance. It’s the best way to ensure that you get the full value of your item in case it gets damaged. 

2.Additional valuation coverage

If you are not satisfied with the basic valuation coverage you have an option to get additional valuation coverage. So, when booking your movers Hasbrouck Heights NJ makes sure to ask about it. In this case, you will get to declare a value of all your belongings. And if something was to happen to your belongings you will be paid the depreciated value of your item. That means that if you bought your laptop 5 years ago for $1,000, you won’t be able to get that much back. You will be paid what the value of your laptop is at the moment of transport. And that will probably be much closer to $200. You are covered in the sense that you get back what you lost. But not enough to fully replace the items with a new one. 

3. Full value protection

The third option that you can get from a moving company is full value protection. Moving companies aren’t obligated to offer this plan. But many do. That means that if your laptop gets damaged during transit your movers will offer one of three things:
  1. To repair the damaged items
  2. Replace it with similar items
  3. Or make a cash settlement for the repair or replacement in current market value
fine art movers NJ

With moving insurance, you will get the peace of mind

You still won’t get what you paid for your item. But you will have more coverage. And more peace of mind. This, just like the previous option, is not free. And you will have to pay extra for it. This option excludes items of high value that aren’t declared in writing beforehand. So, if you plan on moving valuable items such as fine art, make sure you hire professional fine art movers NJ. And check with them about the level of protection that you get. Otherwise, that priceless piece of art from your living room will get valued at cents on the dollar. Or even less than that. So, that is also one of the reasons to get moving insurance.

Should you get 3rd party moving insurance?

So far we’ve covered the types of protection that your moving company offers. But, there is also a 3rd party insurance that you can get for your belongings. It’s especially useful during long-distance relocation since there is a higher chance of something going wrong. Many moving companies already have the option for 3rd party insurance that they can offer. But you can also get it directly from an insurance company. This way, no matter what happens to your belongings, you will get full replacement value coverage for your belongings. And one of the reasons to get moving insurance from a moving insurance company is the peace of mind. No matter what happens to your belongings you will be covered. 

Reasons to get moving insurance from a moving insurance company

There are many reasons to get moving insurance. And one of the most important ones is the peace of mind. You won’t have to worry about anything getting lost or damaged. Even if it does you will be able to fully replace those items. It doesn’t matter if you are moving locally or hiring interstate movers NJ. You won’t have to worry about anything. 
interstate movers NJ

Make your own list of pros and cons for moving insurance

Don’t rely on your renters or homeowners insurance

Many people think that by having a renters or homeowners insurance that the relocation insurance will be covered. While that might sometimes be the case, more often than not it isn’t. It’s one of the reasons to get moving insurance. So, before you hire your NJ movers make sure you check with your insurance agency. Your belongings might just be covered while they are at your home. And not while they are on the road or in storage. 

Budget safety is one of the reasons to get moving insurance

There’s nothing worse than having to deal with unforeseen expenses. Especially during something as expensive as relocation. So, for example, if that laptop that you use for work breaks, you will need to replace it right away. And one of the reasons to get moving insurance is that it won’t break your bank. You will be reimbursed for the cost. And your budget will stay safe.