Twila E. Palmer's Blog
You pack all of your belongings in a truck and hope for the best but even with the most careful movers, accidents can happen. Did you know that typical moving insurance barely covers your prized possessions in cause of a problem. Typical moving insurance pays about 60 cents per pound for damaged goods. So if you have a $1,000 item that only weighs 10 pounds you will get a whopping $60 back. To make up the gap you should consider purchasing moving insurance. There are several options for you to choose from: Full value insurance Full value insurance is the most expensive insurance because it covers your whole shipment. If anything is lost, damaged or destroyed, the movers can either offer to repair the item, reimburse you with cash or replace it with a similar item. Check the policy to see if there are coverage limits on certain items. Released value insurance Released value insurance is the most typical type of insurance. It usually covers goods for 60 cents per pound. Released value insurance is usually offered at little to no cost to you. make sure to check your moving contract, some exclude coverage if you pack your own boxes. Third-party insurance If you choose the mover's released value option, you may want to opt for additional insurance from a third-party. Under this type of coverage your mover would be liable for 60 cents per pound of damaged goods and the insurance company would pay any of the remaining costs. As with any contract make sure to read the coverage thoroughly so you can make an educated decision about what type of coverage you will have for your move.