Importance of Moving Insurance

Moving is a process that requires a lot of planning and proper research to know what kind of moving company you are hiring and the benefits they offer. Here at All My Sons Moving & Storage, our El Paso movers understand the importance of moving insurance. If you are new to moving and have a lot of precious items that require extra protection, this article is for you! Our professional movers provide insight into why moving insurance is important.

Knowing the Different Types of Movers Insurance

The first thing you should know about mover's insurance: there are three different kinds to choose from.

1. Released Value Coverage

This moving insurance offers the most basic coverage. “As the most basic coverage required by federal law, this liability coverage is free and based on weight, paying up to 60 cents per pound for an item. But if your $500 one-pound digital tablet gets damaged during a move, well, it hardly comes close to paying the full replacement value.”1 With this option, it's important to consider the valuable items you have to determine if this option is enough or if you should choose another moving insurance plan.

2. Full Value Protection

This form of mover's insurance is also required by federal law, but it offers better coverage, at a higher cost compared to released value protection. “Also required by federal law, this coverage has to be purchased, but experts recommend it, because it pays for either the current market replacement value of an item, replacement with a similar item, or the item's repair. If you opt for full value protection, make sure to get details of your moving company's specific plan to see how it determines replacement value, especially for items of extraordinary value, and to learn what actions might limit your mover's liability.”

3. Separate Insurance Protection

In the event that neither of these moving insurance options are what you are looking for, there are third party companies that will sell you mover's insurance as well. “Governed by state law, separate liability insurance pays for the insurance amount purchased minus the basic carrier liability amount that the mover pays (up to 60 cents per pound). If you go this route, make sure you get a copy of your policy and understand the amount of insurance you purchased and the cost for this coverage.”1

Talking to Our El Paso Moving Company

At our full-service moving company, we prepare for all kinds of scenarios, which is why our professional movers are all licensed and secured. We will be more then glad to sit you down with one of our moving coordinators and discuss the different moving insurance plans that are right for you and your family. One of our El Paso residential movers can provide a free, no-obligation moving quote. Call our certified moving consultants to learn about our moving insurance policies and coverage and receive a free moving estimate.

Source

1. State Farm Automobile Insurance Company - The Ins and Outs of Moving Insurance