Moving Insurance: Do You Really Need It
There are a few different types of coverage you can get through most movers. It is important to note that not all moving companies automatically insure your belongings. So, in the unfortunate case that your items are damaged or lost, the expense will be all yours, instead of your movers. To stay protected, our South Charlotte movers recommend purchasing moving insurance.
Types of Moving Insurance
Complete Value Protection
Also known as full-value protection, this type of moving insurance will cover all damages, any losses, and will pay for any repairs or replacements for your belongings which may have been damaged or lost. In the case that you are having a few thousand pounds of items transported from house to house, this may be the best coverage for you. If something were to happen, causing something to become broken or damaged, this protection will offer you the most for any damage or losses otherwise.
Assessed Value Protection
This level of moving insurance is the best for items that do not weigh very much but still are of higher value. For example, your large flat-screen TV may weigh only a few pounds, but it may also be valued at $2000. In cases like these, assessed value protection can allow you to purchase specific coverage for a specific amount per $1,000 of value of the item. An important note is that the bill of lading should state this particular coverage, otherwise your South Charlotte mover may not honor it.
Declared Value Protection
This type of moving insurance is normally based on the bulk weight of the items you’re moving. Typically, this is the standard insurance that movers offer, but it is practically very minimal. The maximum liability per pound is usually 60 cents. If your move totals a weight of 3,000 lbs., the maximum liability, regardless of the actual value of your items, is $1,800. If you have your $2,000 TV in the truck for the move and it happens to become damaged, you may only get roughly $15 for it.
It may seem that no level of moving insurance will guarantee the true full value of your items, and certainly does not offer coverage for sentimental value, but at the very least, it is something. For most people, it would be best to pay for the complete value protection, as it offers the best protection for your belongings. If you happen to also have renters’ insurance or homeowners’ insurance, your existing coverage may also help in the case of losses, damages, repairs, and replacements. Quite frankly, something is better than nothing, so you certainly should consider adding moving insurance to your residential move to South Charlotte.
Does Renters Insurance Cover Moving?
Not all renter’s insurance covers moving. If you are moving, there is a chance that your renter’s insurance would cover the cost of lost or damaged items during your move only if the damage is due to a hazard. The purpose of renters insurance is mainly to protect your personal items from damage or replacing items based on the conditions of your renter’s insurance. This is why having both renters insurance and moving insurance is best.
We are a licensed and insured local moving company in South Charlotte, and the premier movers for your family. Allow our team to take care of making your move to south Charlotte perfect! Give us a call today for your free, no-obligation quote.