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What is Moving Insurance? Everything You Need to Know

by | Feb 28, 2020 | Features

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Moving insurance isn’t technically insurance as moving companies don’t offer insurance, they offer valuation. Valuation is basically the same as insurance where the moving company will compensate you for any lost or damaged goods during the moving process. You can get a released value protector plan which is more basic and the company will assume liability as 60 cents per pound per article. For a more expensive price, you can purchase full value protection where the moving company will be fully liable for anything broken or lost. Ultimately, shop around as moving companies offer different plans and prices for valuation.

Key Takeaways:

  • Moving insurance is when a moving company ensures you they will compensate you for your belongings in case they are damaged or lost during the moving process.
  • Full value protector means that you will have to pay a premium upfront but also means the company will be liable for the full value of the items they are moving in case they’re damaged or lost.
  • Shop around if you are going to purchase moving insurance as different companies have different prices and levels of coverage that you can receive.

“Released value protection is the most basic coverage option that moving companies offer. Though moving companies won’t charge you for released value protection, the consumer still has to ask for, and contractually agree, to the coverage.”

Read more: https://www.updater.com/moving-tips/what-is-moving-insurance

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