Moving isn’t easy. There are many different situations that take special care and consideration before attempting - like lowering a chest of drawers down a spiral staircase, or maneuvering a refrigerator out of a narrow hallway without scratching the walls.
Reputable movers do everything in their power to ensure your possessions and goods are confidently and safely moved to their new homes, but of course - accidents can happen. They’re unfortunately inevitable and sometimes take our clients by surprise. What’s important to remember is that movers are human beings too - who make choices and are obliged to live with the results. That’s why Action Movers is a bonded, fully-insured moving company; we know our limitations and opt to protect and inform our clients of potentially accident-prone situations.
Better safe than sorry, they say - but is moving insurance really worth the additional cost? In short, we believe so. It’s ultimately up to you and your family to opt in to extra insurance, but the peace of mind it can provide make moving day that much smoother and stress-free. In this post we’ll outline some of the advantages of having moving insurance and some common questions we’ve been asked in the past.
Types of Insurance
There are two basic types of coverage that moving companies are required to offer their clients.
- Released Value Protection
- Full Value Protection
Released Value Protection coverage includes the value of your possessions at a set rate of 60 cents per pound - meaning that you’ll be reimbursed for everything that’s moved by your movers at a rate that only covers 60 cents per pound; a family heirloom that weighs around 40 pounds will garner $24.00. This is likely the type of protection offered through most moving quotes.
Full Value Protection is based on the valuation of the contents being moved. These plans offer moving companies a couple of options should anything unfortunate occur. The company holds the final call on how things will be reimbursed, and can choose to repair the piece to the same condition it was in prior to the move, or replace the item with another of similar value and type.
Moving companies aren’t allowed to sell insurance. Instead, clients purchase stated liability that moving companies secure from insurance companies. This means that by purchasing additional insurance, you’re essentially setting the limit for your chosen movers liability.
Expanded - or additional - valuations may be purchased as well. These valuation policies are generally declared by per-pound amounts, so if you placed a value on your belongings of $10/pound and your total shipment came to about 5,000 pounds - you’d be looking at a maximum valuation of $50,000 - equating to the maximum you’d be able to receive if your stuff was destroyed or lost.
Additional insurance can be acquired through your current home insurer. All prospective clients should check with their current home insurance policy provider to inquire about coverage while belongings are en route to a new address, as some only cover possessions while their in the home. Some policies may only cover up to 10% of belongings that are temporarily outside the home.
What it Does/doesn’t Cover
With some coverage policies, movers are generally not responsible for boxes that they did not pack. Insurance usually will not cover “acts of God,” natural disasters which re beyond the control of anyone, including fire, lightning strike, hurricane, tornado, etc. Be sure to discuss these aspects with your mover before the move takes place to ensure that you’re familiar and OK with all of the fine print.
Belongings that are placed in storage facilities not controlled by your chosen moving company are not likely to be covered by insurance, either.
Different types of insurance policies for moving for possessions come at different price tags. For example, a total coverage policy with a third party insurance provider could easily run you upwards of $1000 depending on the valuation of your shipment. Meanwhile, a released value protection plan included in your movers initial quote may only cost an additional $50.
It’s always up to the moving party to secure their own additional insurance, and that may cost you - but we guarantee that you’ll be glad you did yourself the favour, even if nothing happens at all.
Benefits of Moving Insurance
When you opt for additional insurance while moving, there are no questions, no debate and no discrepancies - you benefit from full restoration up to the full value of the damaged goods as it’s worth when it’s damaged. Additional insurance gives you full peace of mind knowing that your damaged goods are covered should there be an accident.
Let’s imagine that you’re planning to move a few family heirlooms that highly-valued and impossible to replace. You may think that there are only, let’s imagine three of them, that the short drive to a new neighbourhood across town will allow for basic released value protection. Then, the moving truck is involved in an unfortunate collision where your heirlooms are destroyed. At 60 cents per pound, you may only be reimbursed a few bucks for your irreplaceable possessions.
Transparent and professional movers will always present the facts to a prospective client. Additional insurance protects you from all-out losing the priceless value of your belongings. Opting for peace of mind allows you to focus your energy on other aspects of your move, like getting your kids adjusted to their new neighbourhoods, new schools, etc. Or enjoying the last few days and weeks in your family home. These types of memories are priceless, and if something like additional insurance allows you to enjoy those moments, we believe that’s money well spent.