What is the deal with Insurance and valuation cove …

What is the deal with Insurance and valuation cove …

Moving insurance and liability coverage are two things that are absolutely essential in the event that your treasured belongings might be lost or damaged at some point during the process of relocation.  They are a vital requirement if a professional moving company is dealing with your move or even if you are attempting to move yourself.  A professional moving company will be legally required to provide value protection or valuation, which is a contractual liability that is assumed by all professional moving firms and is not the same as insurance.  Valuation is based upon the weight of the goods that are to be moved and can be limited.  Only a small part of the real value of your belongings is covered and you will need extra coverage which will be offered my a moving company.

A higher degree of coverage can be obtained from your moving company on occasion by paying extra or you can choose to purchase relocation insurance from a normal insurance company instead however what is covered and under which circumstances is dependent upon the covered purchased.  A professional moving company can provide you with extra protection either based upon the weight of your goods or upon the total value of your belongings.  The highest level of coverage that can be provided by a professional moving company is known as full value protection, which will pay for the replacement or repair of items that have been damaged or lost during the move under certain circumstances.  Be sure you ask and know the difference between the circumstances.  You need to have met the minimum coverage value requirements and there will be some deductibles involved.

The insurance policies of homeowners may offer coverage for some possessions that are not actually on the premises, but in one case ( which may or may not apply any longer) this is limited to just 10% of the policy’s value; however, this can be made use of in order to supplement the coverage that is supplied by the professional moving company.  Because valuation coverage and insurance vary so drastically, be sure you know the diferrence and purchase the proper level, policy, etc. Moving insurance that is bought from an insurance firm can sometimes be less expensive than purchasing additional coverage from your moving company and will often include the likes of storms, floods, civil commotion, acts of God, earthquakes and rioting, which are not generally included in the coverage offered by a moving company.

If expensive items such as antiques are going to be included in the relocation, it is a good idea to have their value assessed prior to the move and then arrange to have them covered by extra coverage.

You should check your possessions as they are unloaded when they get to your new home and make sure that any damage or losses are reported right away and noted on the inventory prior to signing it.