Types of Moving Insurance

Whether you are planning a residential move or commercial move, it is always a good idea to get moving insurance. If you are transporting either your valuable personal belongings or your company's pricey office equipment, you'll want to be guaranteed proper compensation should any damage or losses occur during the moving process. Moving insurance gets you that guarantee. But aside from the monetary compensation, getting moving insurance will also bring you peace of mind.

The Tulsa movers at All My Sons Moving & Storage have helped countless families and companies move to and from Tulsa. Based on the specific details of your move, they can suggest which moving insurance would be right for you. Here is a list our Tulsa movers have helped compile discussing the different types of moving insurance.

Basic Limited Liability Protection

Otherwise known as Released Value Protection, Basic Limited Liability Protection is one the most common types of moving insurance provided by moving companies. Our Tulsa movers are fully licensed, bonded, and insured. But what does that mean exactly? All moving companies are legally required to offer $0.30 per pound of insurance for local moves and $0.60 per pound of insurance for interstate moves. These insurance rates are what make up Basic Limited Liability Protection. Make sure to discuss with your Tulsa moving company what policies they offer and what exactly those policies cover.

Full Replacement Value Coverage

To get this type of moving insurance, you'll likely have to pay a little more, but it may be worth it. The premium you'll have to pay will be 1% of the assessed value of your possessions. For that price, insurers that offer Full Replacement Value Coverage are responsible for the repair or replacement costs should your things get lost or damaged. Sometimes, they will have to offer you a fair market value cash settlement to compensate your losses. Make sure to take pre-moving pictures of the belongings you want insured and list them with a value attached to the bill of lading. The pictures and bill of lading can be used as proof that you are entitled to coverage.

Total Loss Only

Potentially the most minimal of moving insurance types, Total Loss moving insurance only covers the absolute worst-case scenario. If you lose all your belongings or they are all damaged beyond repair due to a major accident like a fire or road accident, this type of moving insurance will cover your loss.