When organizing a move, be it local or international, the safety of possessions is a key concern to individuals. Although professional movers like Safe Ship Moving Services undertake the responsibility of the transportation of goods, accidents can still take place. This is where the necessity of moving insurance enters into the scenario. For those who are not well-versed in moving insurance, knowing its options and selecting the best coverage can be challenging. Here is a guide, clarifying the fundamentals of opting for the right moving insurance for a hassle-free and stress-free move.
Understand the Types of Moving Insurance
Before opting for the right moving insurance, it’s crucial to have a basic understanding of the types of moving insurance available. In general, there are three primary types of coverage:
Released Value Protection (RVP): This is the most fundamental type of moving insurance, which is typically offered by movers at no extra expense. In RVP, the mover remains responsible for compensating only a small amount for each pound of damaged items. It’s a minimum policy and will not pay for the entire value of damaged materials, so it is ideal for low-cost moves or objects that things of low value.
Full Value Protection (FVP): FVP provides wind-ranging coverage protection. With this policy, the moving company is liable for compensating the actual replacement value of lost or broken items, and up to a certain amount. In the event any item is found broken or misplaced, it also obligates the company to give replacement, repair, or reimburse the full value of such items. While FVP is more expensive, it gives more peace of mind while transporting valuable or delicate items.
Third-Party Insurance: At times, moving firms partner with third-party insurers to provide coverage. Third-party policies can be limited or comprehensive, depending on the insurer. This is a great alternative if the moving company doesn’t have adequate insurance or if the client wishes to have more personalized protection.
Evaluate the Value of Belongings
One of the basic things to do while selecting the appropriate insurance is to assess the worth of items being moved. If the processions to be transported are costly, delicate, or hold a sentimental value, paying for Full Value Protection or third-party insurance would probably be the best decision. However, if the items are simple furniture or appliances with minimal replacement values, Released Value Protection may be enough.
Check the Movers’ Policy and Reputation
It’s also important to read the insurance policy of the moving company like Safe Ship Moving Services before making any agreement. Not all movers provide the same level of protection while others might charge considerably more for Full Value Protection. Check the terms and conditions of the insurance policy very carefully, including limitations and exclusions. It is equally an important idea to research the reputation of the company along with customer feedback and complaints, to see how well they respond to claims or damaged items.
Consider Third-Party Insurance for Extra Coverage
In other instances, third-party insurance can offer wider or more targeted coverage. Most insurance companies have policies that are tailored to moving. These policies tend to cover more situations, including natural disasters or certain high-value items that movers’ insurance does not cover. If the move includes valuable or delicate items such as valuable antiques or artwork third-party insurance is the best choice.
Last but not least, before opting for insurance, make sure to understand all about the claims process. Knowing how to file for a claim or the documents required is crucial to getting a settlement without any hassle in the event of damage or loss of goods.
