Insurance Advice

Insurance Advice

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We do our best to avoid damaging your household items. But accidents can happen – even with the most careful movers. The common assumption is that full coverage is included when moving company lists itself as a licensed and insured carrier. The reality is, this is only a statement indicating the company has the sufficient auto, general liability, and cargo coverage required by law. All moving companies offer a $0.60 per lb. limit of liability waiver as part of their standard rates for local moves. This is not full coverage or replacement insurance; however is the most standard coverage in the moving industry. Basic coverage is included in your hourly rate. Movers use these contracts to offset the huge amount of liability a company has when handling household items.

For example: An average local move cost $300. The cost of a LCD or plasma television averages around $1500. Without the limits of liability waiver, movers are liable for 5 times the amount of our gross invoice with just that single piece. Add the rest of the household and there becomes far too much liability compared to the net profit. With the waiver, movers are able to balance the amount of liability to the potential net profit; however customer does have a considerable exposure. If a plasma TV damaged during the move the compensation would be based on its weight. A plasma television weighing 100 lbs. would only receive $60.00 once a damage claim is filed.

Homeowners Insurance

Some homeowner’s insurance policies cover household goods while in transit. Check with your homeowner’s insurance company to find out what coverage you may have and be sure to check out when this ends. If the policy is void once you close on your old home it may be of little use to you as this is most likely when you will be moving. If you are fortunate enough to have coverage make sure you contact the insurance company and ask them to explain the level of coverage and what exactly is covered. In the event you need to file a claim with the insurance you will need to prove that the loss or breakage is due to mover’s negligence. No money will be paid out due to any items damaged due to poor packing by you.

Customer always has an option to purchase additional insurance coverage before the move. If you feel that you need additional coverage, you can purchase it at www.movinginsurance.com Be sure to also check your homeowner’s policy to see if it covers damage in transit. If you aren’t sure about what is and isn’t covered – ask.

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