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What You Should Know About Moving Insurance

What You Should Know About Moving Insurance

Now that you’re researching some Indiana movers and checking out what all your options are, you should have seen a thing or two about moving insurance. If you haven’t been around the block a few times quite yet, you might be wondering about moving insurance, what it entails, and whether or not it’s important. Here’s the thing: it’s important! It is always a good idea to have some sort of moving insurance in case of an accident. If you’re looking for Indianapolis local movers for a move only a few blocks or a few cities away, there is a chance that some movers won’t automatically include their insurance.

Fact: Two levels of moving insurance options are mandated under federal law for moving companies operating a mover across state lines. This does not apply to moves within the same state, so you may want to keep your eyes peeled!

If you are moving across state lines and are looking for a team of Indianapolis long-distance movers, they should not only already include a basic level of moving insurance but also offer a second level of coverage for your belongings. If they don’t offer insurance or are not licensed and insured, don’t trust them!

All My Sons Moving & Storage is your premier Indianapolis moving company—we are licensed by AMSA (American Moving & Storage Association) and insured as mandated by the FMCSA and USDOT. We offer insurance on all of our moves, too, so you have nothing to worry about—except the decision as to which type of coverage you’d rather have! So, what is there?

Released Value Protection

This is the basic level of insurance that must, by law, be offered by a moving company that operates over state lines. Essentially, what this coverage includes does not correlate with any direct value of your items. This means that, even though you have a TV worth $500, the insurance coverage does not see it that way. Released Value Protection bases the valuation of your belongings by bulk weight; the federal bottom floor for this valuation must equal at least 60 cents per pound. So, even though your items may be valued altogether at $25,000, but only weighs a total of 3000 lbs., you are only covered for at least $1800 of damage repairs, financial compensation, or total loss replacement. It’s not always the optimal coverage for everyone, especially if you have a bunch of valuables or irreplaceable items.

Full Value Protection

This is the second level of insurance that your Indianapolis movers must offer if you’re traversing state lines. Now, “full value” doesn’t necessarily mean that, because you may have bought your TV for $500 a year ago, the insurance will award you $500 for it, in the case that it was to become damaged or lost. What the insurance covers can be explained by the other name for this type of insurance, “Actual Cash Value.” In the case of a lost or damaged item, the movers will be liable for its actual cash value, meaning that if the TV’s value has depreciated by $200 in fair market value, you will be awarded $300.

Note: There is a legal loophole in the Full Value policy. The insurance policy will not allow the movers to be liable for items of “extraordinary value,” which is an item with a value in excess of $100 per pound, unless you were to inform the mover of these items in explicit detail and in writing. This may cost a bit extra, as well, but will be very much worth it!




If you have any questions regarding moving insurance or anything about your move to Indianapolis in general, call up the best Indianapolis movers around: All My Sons Moving & Storage. We’ve got all the answers you need, and our professionals are all ready to help you in every way we can! Give us a call for any information you need in addition to a free, no-obligation moving quote today.