Any time you move your household, the odds are good that something is going to be damaged in the process. A few broken drinking glasses is not a big deal. However, a damaged living room couch can lead to a costly expense. When choosing a moving company, be sure to ask what type of insurance policy they have and what coverage you will have under it. While all licensed moving companies are required by law to offer basic insurance coverage at no additional cost, this may not be enough to replace your possessions. Here is some information you need to understand about basic coverage so you can be sure your belongings will be replaced or repaired if lost or damaged.
How Compensation is Determined
Basic protection does not take the value of an item into consideration. Instead, you will be paid $0.60 per pound of the item. Therefore, if your 150-pound sofa is ruined, you will receive $90 from the moving company. Even if it was old and not in great shape, this amount is not going to replace it. In fact, it probably won't even pay to have it repaired.
Most companies will not compensate you for any damage to items that you packed. This could be a single item in its own box or a bunch of items in a single box. If you have items you want to pack yourself, it is best if you then haul them to the new location too. Of course, keep in mind that professionals are very good at packaging fragile pieces in a way that keeps them safe.
In addition to the $0.60 per pound coverage limit, there may also be a limit to the amount that can be covered for the move. In other words, if the moving truck were to catch fire or be in an accident that damages all your belongings, you will only be compensated for up to a certain value limit. For example, if your household belongings have a replacement value of $100,000, and the limit is $75,000, you will not receive any compensation for the remaining $25,000, so pick out the heaviest items regardless of their value.
In addition to anything you have packaged yourself, jewelry, coins, documents and pictures are not covered under the basic protection plan. However, your homeowner's insurance policy may provide coverage for the jewelry. It may also provide protection for your more valuable belongings. If not, be sure to talk with the moving company about purchasing additional coverage. This can be "added value," "market value," or "replacement value" plans. What you need to protect, and how much it would cost to replace it, will be the determining factor in which plan you choose. While it will add to the cost of your relocation, it will not be as expensive as having to replace even one expensive item yourself.
For more information about professional moving services, contact a company like Two Small Men With Big Hearts Moving Co.