The Licensed and Insured moving companies should offer moving insurance options to its customers. In order to be licensed to operate as a moving company, your goods are insured with a basic moving insurance which in the moving industry is called liability. Make sure your company has insurance and you will not have to worry that much how the movers handle your household items, because they are liable.
The Basic Moving Liability Insurance
All licensed moving carriers are providing the basic moving liability with every single move. No extra charge for this option. It offers $0.60 per pound per article and is included for your move. So if the movers broke an item that weighs about 30 pounds you will receive the amount of 18 dollars.
Full Liability Moving Insurance Options
The full insurance options offer coverage based on the item value and not on the weight. If you require a full liability insurance option, you should contact your moving company about that at least 10 days in advance because there is a certain amount of paperwork to be done. There are three full insurance options that differ only by the deductible amount.
- Full Liability Moving Insurance with $500 deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $35 per $1000 of liability. This means that if you have a couch that you have listed a value of 2000 dollars, you will pay insurance for the couch of $70 and if something happens to it, you will receive $1500 because of the $500 deductible.
- Full Liability Moving Insurance with $250 deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $45 per $1000 of liability.
- Full Liability Moving Insurance – No deductible
The minimum purchase of this option is $5000 liability value. The insurance cost is $55 per $1000 of liability. This is a full liability option and the movers will refund the total amount of the broken item.
In conclusion, it is always a good idea to have all your options reviewed before the move and if you have some items of high value, to have them insured with a reliable moving company in advance. You should consider very carefully all the insurance options before signing a contract.