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Insurance Coverage Tips for Moving
Whether you plan to move domestically or
internationally, there are many things to consider when choosing a
moving company. First, you must consider their reputation as a
mover. Second, you should consider the pricing and value of their
service. Third, find out the type of moving insurance coverage
offered, if any.
Insurance coverage is often overlooked when moving, but it plays a
critical role in getting your belongings from one location to another
safely. Insurance will not prevent an accident from occurring,
but it will provide monetary protection for your valuable possessions
if one does occur.
Imagine you are moving from the United States to France. You
safely arrive at your new home, but somehow your belongings do not make
it. Maybe the moving van had a wreck, the airplane crashed, or
the ship sank. Maybe the items got caught in a flood situation
and were severely damaged. These things seem far-fetched, but
they do happen, and none of us are immune. Whether your
belongings are worth $15,000 or $100,000, it really doesn't matter -
you've lost it all! If you don't have adequate insurance
coverage, you may have to start replacing your items without a dime.
Get the Right Coverage
There are two possibilities for insurance coverage while moving.
One is your homeowners insurance. Contact your insurance agent to
find out if your belongings are covered during a move. Most
homeowners insurance policies have a "contents" coverage option.
This covers appliances and furnishings within the house in case of a
fire or natural disaster. These items might still be covered
under your policy while moving them. If not, ask if there is a
temporary coverage you can purchase that will cover your belongings
during a move.
Another option is to get insurance coverage through your movers.
Never choose movers who don't offer insurance coverage. Offering
this is one way to tell if the mover is really concerned about the
safety of your belongings. Ask for an explanation of what is
covered and any exclusions or limitations. Also, find out if
insurance is included with your moving fees, or if there are additional
charges.
Types of Moving Insurance
Coverage
Inclusive Insurance: This type of insurance is included with your
moving costs, but may be limited in the percentage of value covered if
damage or loss occurs.
Like for Like Insurance: A policy you can buy that pays according
to the weight of your items. This is usually limited by
depreciation of your goods.
Value Coverage Insurance: You pay additional costs to insure your
belongings by their real value. In this case, you must declare
the correct value of your belongings to the mover or insurer.
New for Old Insurance: A policy that covers all belongings
according to the new market prices.
Take Inventory
It's important that you take a complete inventory of your possessions
before moving day or before you sign on for insurance coverage.
This inventory should list what items you are moving, the value or
replacement price of each, whether it's fragile or not, and what type
of condition it is in. This will take some time to produce, but
it's well worth it in the event of an accident or misplaced
items. It's especially important to do this if moving
internationally because of the many customs and inspections to which
your belongings will be subjected during the trip.
Make the Most of your Moving
Insurance
Here are some great tips for signing on with an insurance company or
your movers for insurance.
1) Always read the fine print on your policy.
2) Be aware of loopholes, exclusions and time limitations for
making claims.
3) Ask lots of questions before signing on with a company.
4) If your items will be placed in storage for any length of time
between transits, make sure your insurance will cover the items while
in storage as well. If not, check with the storage company to
find out if they offer insurance.
5) Ask your movers about packing for you. Some movers will
not cover damage caused during transit if you did your own
packing. They assume you did not pack the item correctly if it
gets damaged.
6) If moving internationally, be sure the coverage is available
in that country as well.
7) Keep a copy of your inventory list in a safe place during
travel - with you.
8) Find out if the insurance policy covers any damage done to
your home (old or new) during the loading or unloading process.
Getting the right moving insurance will make your move less stressful
and eliminate worries about losing your items while they're in someone
else's care. Use these tips to find dependable insurance coverage
and peace of mind!
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