So you have been contemplating moving to your new home for about a month now. The final payment on the property went out 6 months ago. It is high time that you left this place and moved into your brand new house. What seems to be stopping you?
You have no clue about moving insurance. You don’t know which removalist to choose or where to source your packing materials from. Before the packers and movers drop by at your old house to whip you guys into action and get you moving, make it a point to sort out this entire insurance-related confusion first. Here are a few useful tips:
Let’s Talk About The Types Of Moving Insurance
Released Value Coverage
This is probably the most basic insurance cover that is available to homeowners across the country. It is liability coverage and it is free of cost, but the protection that you get is based on the weight of the cargo. It is not going to cover the full market value of your belongings, but only a part of them. And it also doesn’t cover any repair or replacement.
Full Value Protection
The full value protection plan, as you can see from the name itself, is something that you would prefer over any other plan. It is usually recommended by experts because it provides you with full coverage based on the worth of your belongings. If there are any expensive items that you want to insure, it is better to go for the full value protection plan. But remember, it usually doesn’t cover any item that is worth more than $100 per pound of the item’s weight.
Third-Party Insurance
This is an optional coverage that you can take out. You can go with separate liability insurance to protect all your high-value items, such as your brand new plasma TV or your home theatre system. There are a few events that might not be covered with the full value protection plan, so you can opt for this third-party coverage to fill in the gaps.
Is There Moving Insurance For DIY Movers?
Is there? Does it even apply to those moves? Yes, because you are not the only one planning to carry out a move all by yourself. There are plenty of homeowners across the country who might be interested in an insurance policy that offers limited but assured protection to DIY movers. For example, there are several truck rental companies that offer various insurance policies that protect the rental vehicle. They also cover the driver, the passengers, and your cargo, but that will depend on the type of coverage that you have chosen. Some insurance covers give you protection against a lot of scenarios that may result in damage to your belongings. These may include collision, windstorm, fire, vehicle flipping over, and a lot of other mishaps. You can go with supplemental liability coverage as well, which can give you the protection of up to $1 million.
Insurance Protection For The Contents Of The Container
Yes, this is also a very common form of insurance coverage that you can opt for. It is going to cover your belongings and also the container if there is severe damage or you think that there is a possibility of an accident or even vandalism or burglary. Remember that if there is any damage resulting from improper packing or any abnormal or unusual shifting procedures, those instances will not be covered. If you’re looking to get your items replaced, they will only be replaced after deducting reasonable depreciation. This means that the age or condition of the item will also be considered before you get any replacement.
Should You Go For A Container-Only Protection?
Are you thinking about going for container-only protection? In case your homeowner’s insurance successfully covers your belongings, you can consider a container-only protection plan.
How Much Coverage Do You Need Exactly?
This is a question that you will have to ask yourself before you choose any form of moving insurance, whether it is with a removalist or a standalone plan from a third party. You should start by creating an inventory of all the items and belongings that you have in your old home. Remember to segregate the items that you want to discard or do away with. This will give you a better idea of all the valuable items that you are carrying to your new house. You will have more clarity as to which items you want to insure and which you can go without getting insured.
For example, you might want to insure some of your brand new electronic gadgets but not something that is more than 10 or 15 years old. You will not be looking to cover your old sofa or worn-out recliner. Instead, go with something that you have purchased just recently or perhaps something like your expensive jewellery, family heirlooms, antique pieces, and the like.
A Few More Useful Tips On Getting The Right Moving Insurance And Protecting Your Belongings
1. Click Photos Before Moving Out
Before you even start packing your items or stashing them inside the moving vehicle, make sure to click clear and crisp pictures of all your belongings. This is intelligent documentation that you will have to carry out on your own. In case of any damage or loss, these photographs are going to help you replace or repair almost all your items.
2. Keep Your Valuables With You
You’ll be advised even by the leading removalists to keep all your expensive belongings and valuables with you. This includes your expensive gadgets, laptops, jewellery pieces, small antique items, and family heirlooms as well. Make sure to keep your important documents with you in your personal vehicle.
3. Pack And Prepare With Care
You must invest in dependable and strong packing materials. Cardboard boxes, packing tape, nylon rope, bubble wrap, plastic wrap, packing paper, and other materials that you choose should be industrial-grade or at least recommended by the packers and movies themselves.
4. Always Know The Transit Details And Stops
In the end, it is very critical that you are aware of the transit details. Make sure to stay constantly in touch with the packers and movers as they move your stuff out of your old home and into the moving van. You should stay connected with them when they are in transit and also whenever they make a stop on the highway.
Conclusion
Whether you have been a part of a house moving process before or not, you would always want to protect your belongings. Using the right insurance plan for your house move is an intelligent decision. However, do not be hasty. Do not be gullible, and don’t be nervous. Happy moving!