Insurance is the most important but more confusing step in the moving of your goods. It is important that your possessions are insured adequately before actually moving houses.
Determine the maximum liability dollar value of the insurance provided by the mover and the process involved in case you need to place a claim.
The Insurance is based on a valuation. There are three types of valuation:
This is a simple valuation. You multiply the amount of coverage per pound with the weight of your shipment. This is the maximum value the insurer is liable. The claim is based on depreciated value of the items damaged.
Lump Sum Value:
This is an alternative to the Declared Value valuation. It is based more on value than on weight. You should know the value of your items and declare them in writing on the Bill of Lading.
Full Value Protection:
This valuation covers almost all kind of loss. It is covering the repair or replacement of the items lost or damaged.
The difference between the full value protections to a Lump sum value is that a full value protection will usually cover the full value of an item no matter his state while a Lump Sum value protection will cover only the depreciated value of this item.
When you’re packing your belongings yourself, if a box is delivered in exactly the same condition that it has been picked up but the item within this box is damaged, you will most likely not be covered for any damage. Reason being that with proper packing there should be no damage when your box is normally handled.
It is very important to take photographs of all your items before moving them. That way you will have the proof of their condition and your claim will be easier to process.
There’s usually some period limitation on posting claim, you should find out with your moving company how long after the move you can post a claim.