Do I need insurance? How does it work? What’s covered?
Tour your home prior to your move and calculate how much your household goods are worth. This will help you determine how much protection will be adequate for your shipment. Ask your mover for forms to help you take inventory of your household. These will help you establish not only the quantity of items but also the original cost and replacement cost of major items. Once you have established the total value, you are in a better position to assess what coverage suits your particular move. You have options which are part of the transportation contract.
Moving companies offer a form of basic compensation for loss and/or damage called “released rate liability” which, at no cost to you, protects you to a maximum of 60 cents per pound per article. This option provides only the most basic coverage. If a 20lbs chair valued at $250.00 is damaged or lost, for example, the maximum settlement will be 20lbs x $0.60 = $12.00.
The second option, called “replacement value protection” covers you to the full replacement value of every item lost or damaged. It is based on the declared value of your shipment and is available to you at a reasonable cost. The same $250.00 chair would be repaired to your satisfaction, replaced with one of equal value, or settled at $250.00.
We know the importance you place on your personal possessions and appreciate your concern for their protection while they are in the care of a mover. Take careful stock of your household goods and protect them adequately.