Moving can be a stressful and expensive process, and it's essential to make sure that your belongings are safeguarded. According to federal regulations, all moving companies must provide two types of coverage to customers who move out of state, and there is also a third option, insurance coverage from a third-party provider. The cost of moving insurance will depend on key factors such as the value of your possessions and the type of coverage you select. When you move out of state, moving companies are required by federal law to offer two types of coverage.
The first is a damage waiver, which is a fee that covers any damage that may occur during the move. The second is appraisal coverage, which is the amount of liability that your moving company is willing to accept if your belongings are damaged or lost during the move. If you decide to move yourself, you won't have the benefits of coverage from a moving company if your belongings are damaged or broken. In this case, it's important to check with your state, county, or local consumer affairs agency or state moving association to check local moving rules and regulations.
It's also worth noting that your renters or homeowners insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck. If you decide to purchase additional moving insurance through the moving company or a third-party provider, be sure to get the details of the coverage in writing and that you understand what it covers and what it excludes. A moving insurance plan is usually offered by a third party and covers events that are beyond the control of the moving company, such as fires and natural disasters. This will complement the coverage required by the moving company and will also cover items that you move yourself.
Full protection allows the moving company two options in the event of loss, destruction or damage to any item during the move. Some people prefer to have their belongings insured by a third party if the moving company they use doesn't offer this type of valuation coverage. Most insurance policies for renters and homeowners don't usually cover the cost of possessions damaged or lost due to a move. Packing smartly helps when it comes to moving furniture and packing a house for a move, but it's always best to assume that your homeowners or renters insurance plan won't cover moving items unless they explicitly say so in writing. To be on the safe side, consider purchasing additional insurance for your move.