The 411 on Moving Insurance
Hiring even the best moving companies means trusting strangers to handle your most precious belongings. Moving fails happen more often than the industry would like to admit. Make sure you avoid a moving disaster by purchasing the right kind of moving insurance. Our experienced Seattle full-service movers at Established Moving & Storage put together this information to make sure you understand what insurance options are available. Before your next move, consider the information below when choosing the right insurance for your move.
Every moving company says they are licensed and insured, which is the truth. But this phrase simply means that the company has the right liability and insurance coverage that the Department of Transportation requires. This level of insurance coverage that a mover is required to have by the DOT is only a $.60 per pound liability rate. This is offered to you at no additional charge thanks to the Federal Motor Carriers Safety Administration. But, this is NOT full value replacement insurance.
Make sure you ask your movers about the different insurance options they offer and if they have a full coverage or replacement option. This way, if anything is damaged in the move, you don’t have to pay out of pocket.
Read the following coverage options carefully to make sure you are aware of what coverage is available to you. The coverage you choose will apply to any claim for a damaged item.
Standard $.60 Valuation
As required by the Federal Motor Carriers Safety Administration, this insurance coverage is offered at no additional cost to you. It covers $.60 per pound for damaged or missing items. It’s important to note that the value of the item has no implication in the settlement amount for the items. It is simply based on weight. For instance, that valuable picture that you had framed may be worth thousands of dollars but weigh only 10 pounds. If you stick with the standard coverage, you will only receive $6 back.
Many movers in the industry, including Established Moving & Storage, work with third party insurance carriers to offer full coverage protection for your items. Each third-party mover has their own rules and regulations so make sure to call us to discuss options and what might work best for you. Remember that these policies may take a day or two to go into effect, so make sure you get on this early. Don’t wait until the day before you move.
Some homeowner’s or renter’s insurance carriers offer coverage for moving above the standard $.60 per pound rate. You may be charged $50-100 from your insurance carrier to apply a rider to cover your belongings during the move. Give your insurance company a call to see if this option applies to you well before your move, as they will need information from us to make the proper coverage possible.
No matter what option you choose, make sure you thoroughly review your policy to see what is applicable for a claim. Established Moving & Storage works hard to maintain its reputation as one of the best moving companies out there by getting your items to your new home safe and sound. But, just in case something does go wrong, make sure you are prepared with insurance.