3 Things To Know About Moving Insurance
Are you planning to use residential movers for your upcoming move, and you are being asked if you want moving insurance? You may be wondering if moving insurance is necessary or if it is worth passing on. Here is what you need to know to make a decision.
There Are Two Types Of Damage That Can Happen
Any damage that happens to items during your move is going to be categorized into two types of damage. There is negligence damage, which happens when items are damaged during the move due to the negligence of the moving company.
The other type of insurance covers casualty damage. This protects your belongings if there is damage due to the moving truck being involved in a car accident or some other reason, or if the truck were to catch on fire and damage everything inside.
There Are Two Types Of Moving Insurance
There is often confusion about the three types of moving insurance available to you. There is the most basic form of insurance that is mandated for all insurance companies to offer, which is known as basic liability insurance. However, it is often not enough to pay for items that are actually damaged, because it reimburses you for items based on their weight instead of their value. This means that a light electronic device will be worth practically nothing if you need to make an insurance claim.
There is optional insurance you can purchase, which is known as cargo insurance, which covers the entire replacement value of items that are damaged during the move. This means that if your TV shows up at your new place with a damaged screen, you can have the TV replaced by using the insurance.
There Are Two Levels Of Coverage
If you decide to purchase insurance, there are different levels of coverage that you can get to fit your budget. All perils insurance is going to cover everything during the entire move, which guarantees that you have coverage no matter what happens. Named perils insurance will cost you less money, but as the name implies, it only covers those items that you decide to name in the policy. You may have a very expensive computer, television, artwork, or things of that nature that you want to be insured, but don't care as much for your clothing, furniture, and other items that are easy to replace if necessary.
For more information on moving insurance, contact a local moving company.