Is MOVING insurance important ?
Must I purchase moving insurance?
This question has definitely crossed your mind if you're getting ready to relocate, and for good cause. Many negative evaluations are posted online and complaints are made against moving firms every year because of damage done to customers' personal possessions during a relocation. With this in mind, it's quite acceptable to feel a little apprehensive about entrusting strangers with all of your home belongings. After all, what if your movers misplace, harm, or ruin your possessions?
Fortunately, there are some strategies you can use to safeguard your relocation and get ready for this sort of scenario. Learning about the many valuation coverage and relocation insurance choices that are accessible to you is one such method.
Valuation: When signing a moving contract, you may notice that the moving company offers several different levels of liability – or “valuation coverage,” as it`s called. Valuation coverage is simply the amount of liability that your moving company is willing to accept in the case that your belongings become damaged or lost during a move.
According to the FMCSA : (Federal Motor Carrier Safety Administration), “if articles you pack are damaged, it may be more difficult to establish your claim against the mover for the boxes you pack. ” Failing to let your movers know (in writing) about any items of extraordinary value prior to the move. Failing to report loss or damage to items promptly after the move. Packing “perishable, dangerous or hazardous materials in your household goods without your mover`s knowledge,” according to the FMCSA.
What are the different valuation options offered by movers?
All interprovincial movers are required by Federal law to offer two liability options to customers: Released Value Protection and Full Value Protection. Here’s a quick synopsis below.
Released Value Protection is automatically included in the cost of your interstate move. The federal mandate for Released Value Protection in interstate moves is 60 cents per pound per item. This number ($6) would be the dollar amount that the moving company is liable for, regardless of how much the item originally cost you. While most states still require moving companies to offer 60 cents per pound, this increase in Ontario's coverage could spark other states to increase their minimum coverage requirements as well.
Full Value Protection. In a nutshell, this level of liability offers customers considerably more protection in the case of an item becoming damaged or lost by the movers. In other words: a mover will only reimburse you for an item's actual cash value. Make a cash settlement for the cost of the repair or the current market replacement value. This level of liability is sometimes referred to as Actual Cash Value coverage.
Take photos of all belongings before moving.
Hire a reliable moving company with good reviews.
All relocation companies in our network are licensed and insured, so you can rest assured that your move will be in good hands. .
For more tips, tricks and moving magic, visit your team at #friendlycitymovers
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