When it comes to moving, it's essential to consider the amount of liability that your moving company is willing to accept if your belongings are damaged or lost during the move. This is known as “valuation coverage”, and it is not insurance. It is important to note that all of these liability options offer limited coverage. It may be a good idea to invest in a moving insurance policy if you're transporting high-value items, as coverage isn't very expensive.
Don't assume that your homeowners insurance (or renters insurance) will cover every item in the household during the move. You'll have to get it from a third party. Evaluate the value of your property and use that figure as a starting point when talking to the moving company about the coverage and cost of a third-party moving insurance policy. If you want 100% coverage, you'll have to supplement your moving company's valuation option with an external insurance provider.
Some people prefer to have their belongings insured by a third party if the moving company they use doesn't offer this type of valuation coverage. If you move your items yourself, your current homeowners or renters insurance policy may provide you with some coverage. When it comes to purchasing moving insurance, there are certain restrictions that you should be aware of. Moving companies are not allowed to sell insurance on their own, so you'll have to get it from a third party.
Value released protection and full value protection are provided by moving companies rather than insurers. You can find the most comprehensive coverage plan through an outside moving insurance company. If you're relocating to another state, moving companies are required by federal law to offer two types of coverage. However, if you decide to move yourself, your renters or homeowners insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck.
