Valuation coverage is the amount of liability that moving companies can offer. It is not insurance, but it does provide limited protection for your possessions if they are damaged or lost during the move. Homeowners, renters, and condominiums insurance policies usually cover theft, vandalism, and weather-related damage to your belongings while you move. However, they typically don't cover damage caused by other mishaps during packaging or transportation.
Moving companies must offer two specific types of valuation when they move across state lines. If you decide to purchase additional moving insurance through the moving company or a third-party provider, make sure to get the details of the coverage in writing and understand what it covers and what it excludes. Your housing, renters, or condo policy may cover damage, within the limits of your policy, to objects caused by theft, acts of vandalism, or if the moving truck is involved in a car accident. If you move yourself, your renters or homeowners insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck.
However, it won't cover damage caused by the process of moving items. When it comes to moving insurance, it's important to know what is covered and what isn't. Valuation coverage is the amount of liability that moving companies can offer and it provides limited protection for your possessions if they are damaged or lost during the move. Your housing, renters, or condo policy may cover damage to objects caused by theft, acts of vandalism, or if the moving truck is involved in a car accident.
It's important to be aware of what is covered by moving insurance and what isn't so that you can make an informed decision about whether additional coverage is necessary for your move. Be sure to read all of the fine print before signing any contracts with a moving company so that you know exactly what is covered and what isn't.
