Whether you’re planning on moving locally or out of state, you need to think about insurance, not just for protecting your belongings, but also for your peace of mind. The local movers at Star Moving Solutions discuss how to make sure you’re covered when you move.
Types of Insurance Coverage
Both homeowners and renters’ insurance policies provide coverage for your personal property while it’s at your residence, while in transit and while in storage. However, most insurance providers will not cover damage done to your property while being handled by movers.
Make it a point to ask your insurance provider about your current policy, particularly its exceptions related to moving. There are five types of insurance coverage that may help ensure coverage when you move:
1. Trip Transit Insurance — This is an extension of the part of your homeowners or renters’ policy that covers theft, disappearance or fire, applicable to when your property transit or storage. You can choose to have it written for full property value, or as excess coverage above provided by your movers. It generally does not cover breakage or flooding.
2. Special Perils Insurance — Special perils is a type of property insurance that covers unforeseen contingencies caused by natural calamities or man-made perils such as riots or strikes. A version of this covers breakage of all except fragile items.
3. Floater Insurance — Floater insurance is a type of insurance that covers easily movable property, and typically covers only one individual item like priceless art or jewelry. Make sure you have read and understood your insurance coverage exceptions, as well as any coverage moving services may provide for valuable items.
4. Car Insurance — If you’re shipping your vehicle through an auto shipping service, ask them for a copy of their insurance certificate. Also, ask your insurance provider if shipping your car will affect your insurance coverage.
5. Storage Insurance — If you’re going to need temporary storage for your property, ask your insurance provider and/or movers if they will provide coverage for storage.
Professional Mover Protections
We professional movers offer liability coverage for damage or breakage. It’s important to note that it is not a substitute for insurance, and in fact is not governed by state insurance laws. However, under federal law, interstate movers are required to offer two liability options. These can also be offered for intra-state moves.
Full Value Protection — This is a protection plan that makes us liable for the replacement value of the property included in your shipment. If any article is lost, destroyed, or damaged while it is in our custody, we will have it repaired to the extent of restoring it to the same condition as received, or pay for the cost of such repairs. Or, we will replace the article or pay you for the cost of replacement.
This is why you must declare the full value of your property when you entrust it to local movers, and not under-declare it hoping to reduce the valuation charge. In case something does happen to your property, we will only be able to cover the cost that you have declared beforehand. If an article doesn’t have a declared value, valuation will be deemed equal to $6.00 per pound, subject to a minimum valuation of $6,000.00. Under certain circumstances, a client may choose to declare a higher value, which will, of course, increase the valuation charge proportionally.
Released Value Protection — This option is offered at no additional charge beyond the moving fee. However, it provides minimal protection; all articles will be valued at no more than $0.60 per pound. Clients who choose this option will have to sign a waiver for full value protection. Insurance providers may offer separate liability coverage that may cover the value not covered by released value protection.
For more information about protection for your more, talk to us at Star Moving Solutions, your leading provider of local and international moving services. Give us a call at (703) 421-6510. You can also fill out our contact form to request a free estimate.