Moving Services: When Should You Require an Insurance Policy?

Blog | October 14th, 2016

Relocating to a new home is a huge task. In fact, the anxiety from planning the logistics, along with the fear of losing any expensive items along the way, and the potential overall costs involved can trouble anyone. Because of this, many people are now using moving services when relocating to a new residential home or commercial building.

However, when there is any damage at the receiving end of a ‘move’, most people would immediately assume that it is the moving services’ fault and the company is liable to pay for it. Well, things are not that simple.

When to Hire Moving Services with an Insurance Policy

Most packing and moving companies have some kind of insurance policy in place, but you shouldn’t assume that they do, or expect that their policy will cover all of your belongings. So, it is critical to discuss what items the policy covers and up to what extent, if there is even a policy? Basically, it’s true, assuming anything can create conflicts.

Types of Damage Covered

Here are the different types of policy covers that a removals and storage company might offer.

Complete Value Protection: It is one of the best moving insurance options that covers the cost of damage, loss and even repairs and replacement. However, the actual valuation of items are customarily insured at a lower amount than the estimated full value price.

Declared Value Protection Based on Weight: Under this policy, the moving services multiply the total weight of the goods relative to their policy liability. The method is quick and easy, but may not fully cover any damage that may occur.

Assessed Value Protection: While most of other options cover your goods by weight, this one assesses the cost. Make sure that you get the value and insured sum amount written on the paper or else the company might not honour it.

Is it Really Needed?

People often question the need for moving insurance, assuming that no one really loses any goods in transit? Well, whether you are moving across the country or within the city, there is always a chance of damage in transit. It’s better to be safe than sorry, to have ‘some’ kind of guarantee on your items.

A professional removal company that offers top-notch services will help you estimate every item you have, if necessary. And, they will take into consideration the weight and worth of your valuables, and then explain in detail the moving process, and all the details about the company’s insurance policy, before having you sign anything.

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