If you have hired a licensed and insured moving company to relocate your household goods, they should offer you moving insurance, which can come with several options.
A licensed operator must offer basic insurance in order to keep its license. This basic insurance is liability insurance. Make sure the company you hire has it, so if the movers break some household items inadvertently, they will be liable to cover it.
The Basic Moving Liability Insurance
All licensed moving carriers provide basic moving liability insurance with each move. There should be no additional charge for this. It offers $0.60 per pound of coverage per article. It the movers break something that weighs approximately 40 pounds, the company would reimburse you $24.
Full Liability Moving Insurance Options
The full insurance options offer you coverage based on the value of the item rather than on weight. If you are thinking about the full liability option, you need to contact your mover at least 2 weeks in advance. You should preferably do this when they write an estimate. There will be some paperwork to complete.
There are three full insurance options that differ only by the deductible amount, which are:
Full Liability Moving Insurance – No deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $55 per $1000 of liability. This is a full liability option and the movers will refund the total amount of the broken item.
Full Liability Moving Insurance with $250 deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $45 per $1000 of liability.
Full Liability Moving Insurance with $500 deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $35 per $1000 of liability. This means that if you have a couch that you have listed a value of 3000 dollars, you will pay insurance for the couch of $105 and if something happens to it, you will receive $2500 because of the $500 deductible.
In conclusion, it is always a good idea to review all of your options early in the moving process, especially if you are moving items that are high value. Have them insured with a reliable moving company in advance. You should consider very carefully all the insurance options before signing a contract.
For more information, simply contact your dedicated Global Van Lines Moving Concierge. We offer this service to you free of charge and with no obligation. We are here to help you design and implement the best moving experience that fits in your budget.