The excitement and fear of moving through the city or across the country are real for most people. But additional protection for your peace of mind may be the purchase of insurance. Besides that, there are plenty of other reasons to get moving insurance. In this article, Gibraltar Van Lines share some more insight into why it is so important while relocating.
Most people don’t realize that homeowner or tenant insurance may not cover losses or damage to your belongings on a truck heading to your new location. Before buying any insurance upon moving, consult with your insurance agent about what your current policy covers during the move.
Your items must be protected while they are in your home, on the move and in storage. However, the Insurance Information Institute (III) explains that it will not pay for any damage caused to personal property by movers during packing or physical move of boxes and furniture. Below are some of the reasons why we think moving insurance is a good idea and some of the types that you can purchase.
So what are the main reasons to get moving insurance?
Moving insurance brings peace of mind
If you hire a professional moving company, you have nothing to worry about when it comes to your belongings. At Gibraltar Van Lines, we certainly believe that we fit into this category. But even in this case, the unexpected can happen. Accidents during moves are not frequent, but they are possible. Peace of mind, which you get through the insurance of all your things, will help make your move less stressful.
You will receive the basic carrier liability from any licensed moving company when you take moving services NJ. This is required by law, therefore, by the way, this is a serious red flag if the company does not offer it. However, you can purchase insurance that gives you more compensation in case of loss or damage to items.
You have expensive things
For high-end items such as art or antiques, people will often have extra insurance to protect them from accidents. In some cases, this is a requirement of the primary insurer. In addition, keeping your valuables safe is one of the biggest reasons to get moving insurance.
Unexpected events can happen with any move. But it is obvious that a long-distance move brings more opportunities for trouble. For the same reason, you will get insurance for your luggage if you travel far. The longer the trip, the better the idea of getting insurance.
You are not covered
Many people think that if they move with office movers NJ because their company moves, they are covered by insurance. But in many cases, this is not so. In addition, most homeowners and tenants’ insurances do not cover your items while they are on the move.
Types of moving insurance
It is important that you understand other insurance options and find out what is included in your current policies:
Trip transit insurance
This will cover your personal property for things such as theft, disappearance or fire during transportation or storage. A policy can also be for the full value of your belongings or as excessive coverage in addition to the moving company coverage. But remember that you are not safe from breaking or flooding if you put your things in storage.
Special perils coverage
This gives you protection against breaking all but fragile items. For example, if you let movers pack a collection of 18th-century crystals from your aunt, and everything breaks, you won’t get a penny for it. That’s one of the big reasons to get moving insurance, but a good one.
If you have valuables such as a collection of art or expensive jewelry, adding a floater to your regular homeowner or tenant insurance policy can completely protect you.
Car insurance check
If you ship your car, be sure to get an insurance certificate from a shipping company. They must have one by law. Also, call your insurance company for coverage.
If you need an NJ storage unit or garage for several weeks or several years, it could be helpful to get extra protection. Make sure you check the fine print on the policy.
What if you move all things yourself?
It is likely that your homeowner or car insurance policy will not cover your property if you transport it in your own car or in a rented truck. If so, you take all the risk. However, truck rental companies offer insurance that protects not only the vehicle you are taking but also the driver, passengers, and your belongings. But really check these rental companies out.
Should you buy a moving company’s insurance?
Many movers offer insurance policies through one of their branches. Just make sure you take the time to understand the policy. These types of insurance are regulated by states, not the federal government, and not all states allow moving companies to sell insurance policies. But also keep in mind that some moving companies already offer protection if your items are damaged or broken.
What protection do moving companies offer?
In accordance with federal law, all interstate movers must offer two different liability options – full value protection and released value protection. And most movers also offer both options for moving within the state.
- Full value protection is a plan in which the mover is responsible for the replacement cost of your goods if they were lost, destroyed or damaged during the move. You will pay extra for this protection.
- Released value protection is provided at no extra charge in excess of the transfer fee. But that only gives you a fraction of the cost — for example, no more than 60 cents per pound per item. This is not so much when you are talking about something that is expensive but low in weight.
What is the cost of moving insurance?
Depending on what kind of things you have, as well as on the state or city in which you live and where you move, the cost of moving insurance varies greatly. You need to make a large list of all the things that you are moving and calculate how much it will cost to replace them. Therefore, if you say that your belongings cost $30,000 and move across the country, you can pay from a few hundred dollars to more than $1.000 for full insurance coverage, which means that the movers carry out all the loading and transportation.
But before choosing any transport company or any travel insurance, find out about it as much as you can. No matter what are your reasons to get moving insurance, you must make sure your insurance company is reliable. Be thorough in your research, and you will find the right insurance for yourself.