Know If Your Mover Should Provide Your Moving Insurance Or Should You?
Moving insurance is an important aspect that should be looked into whenever you are making a move. The federal law also provides that moving companies should have insurance covers: basic carrier liability and full value protection. A1 Auto Transport is a reliable and trusted hand which can transport your belongings safely. However, it is good to acknowledge that there are many risks faced during long distance moves, including the loss and damage of your property.
Moving insurance is a topic that is not well understood by most individuals. In many cases, you will find that a person has planned all aspects of their big transition except this. Here is what you need to know about this important topic.
Insurance covers provided by the moving company
Interstate movers are required to provide moving insurance according to federal law. The main types of insurance that are to be provided include:
Full value protection: This is a cover which in the event that your personal property is damaged, lost or destroyed while in the possession of the moving company, the mover will be expected to repair or replace the item, or to pay for it. The value shall be the current market cost or the cost of repair.
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Released value protection provides for minimal protection which is not more that 60 cents per pound of the value of the item.
Separate liability coverage is a cover provided by movers at an additional fee. It provides that the mover shall be liable for any loss or damage up to 60 cents per pound of the item and the rest of the loss is recoverable only up to the limit of the purchased policy.
Situations in which you should provide for moving insurance
- In case your homeowners or renters policy does not cover your move, it is good to get moving insurance. This will cover any loss or damage that occurs when you make the move.
- When the mover clearly states the conditions that may provide them with limited liability, it would be better for you to get moving insurance.
- The possibility of risks which are not covered in the insurance provided for by the mover also calls for you to get moving insurance. Such risks include fire, breakage of high value items and disappearance.
Accidents happen. That is the reality. While the movers may provide moving insurance, remember you are the one who may stand to lose a great deal should your valuables get lost or damaged while in-transit. It is therefore in your best interests to get moving insurance for your property should you be making a self-move or if the moving company states that some situations may limit their liability. It is advisable to conduct property insurance valuation before making your move. Overall, while you may get moving insurance from the mover or the truck hiring company, it does pay to be prepared and to have your property covered should the service providers be limited in their liability.