Moving Insurance Options

By Author: John Cherry
Total Articles: 1
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When you move, you are taking a pretty big risk by putting all of your belongings in the hands of a mover. Certainly, you have done your research and determined which company is the least likely to damage your items, but that really isn’t enough. You need to make sure that you are protected in the event that something does happen to your items during the move.

If you hire a mover, you will automatically receive some insurance that will be included in the price of the move. However, this simply isn’t enough insurance to cover the loss or damage of your items. Most moving companies pay pennies per pound, which means that your $1,000 necklace will be worth only a couple of dollars at most if it is lost or damaged.

You would be devastated if you lost all of your worldly possessions and only received a check for a few hundred dollars in compensation. For this reason alone, you will want to purchase additional insurance through companies other than the moving company. There are several options to choose from.

First, check with your home insurance company to find out if moves are covered. This is the easiest ...
... way to get coverage, but some homeowners’ insurance policies specifically exclude moves. You might be able to purchase a separate moving rider that will be valid for the time of the move and will expire shortly after.

Most moving companies also work with underwriters that can issue you specific insurance policies for your items above the amount offered through the moving company itself. It is beneficial to go through one of these underwriters because they have likely worked with moving losses many times before. Your claim will probably be processed more quickly than through an outside insurance company.

You can also purchase additional moving insurance through just about any major insurance company that offers automobile insurance, home insurance, renters’ insurance, life insurance and travel insurance. There are benefits of going through these companies as well. For example, these companies will not have any affiliation with the moving company so they will probably be more objective when it comes to processing claims than companies that are employed as underwriters for the moving company.

The bottom line is that you need additional insurance when you move. You only have to pay for it for the duration of your move, so it’s not a huge expense. But if you lose your items or they are damaged, you will be grateful that you purchased the extra policy.

About the author -
John is a shrewd consumer who writes about personal finance, finding deals, and local consumer home services like: movers & packers in Atlanta and professional movers in SF.