Moving insurance is a great way to safeguard your possessions during a move. Whether you're relocating across the country or just across town, it's essential to make sure you have the right coverage in place. Moving insurance covers repairs or replacement of your property if it gets damaged while a moving company is transporting it. It's not legally required, but it's a good idea to invest in a policy if you're moving high-value items, since coverage isn't very expensive.
Most insurance policies for renters and homeowners don't usually cover the cost of possessions damaged or lost due to a move. That's why it's important to choose the best moving insurance to cover your expenses in case there are some bumps in the road. Some circumstances may limit the liability of the moving company and make buying moving insurance more attractive. In many cases, moving coverage can be offered through a third party affiliated with moving companies, and coverage options can be an important factor in deciding between moving companies.
If you decide to purchase additional moving insurance through the moving company or a third-party provider, be sure to get the details of the coverage in writing and that you understand what it covers and what it doesn't. Federal regulations require all moving companies to offer two types of coverage to consumers who move out of state. It's also worth noting that if you're not relocating to a new state, you can check with your state, county, or local consumer affairs agency or state moving association to check local moving rules and regulations. You will need general liability insurance to protect you and your company from mishaps that may occur during removals or during the performance of your professional activity.
If you decide to move yourself, you won't have the benefits of coverage from a moving company if your belongings are damaged or broken. 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. Appraisal coverage is the amount of liability that your moving company is willing to accept if your belongings are damaged or lost during the move. 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.
Third-party moving insurance offers additional coverage options that can supplement the discounted coverage included with interstate moves. Contact your agent or insurer to find out if you have coverage during a move or if coverage can be added with an additional clause. With some insurers, this is the only type of coverage you can buy if you move without a moving company. Moving can be stressful enough without having to worry about potential damage to your belongings. Investing in adequate protection for your items is an important step in ensuring that your move goes as smoothly as possible.
With the right coverage in place, you can rest assured that any losses incurred during transit will be covered.
