A Guide To Moving Insurance

If you’re looking to hire local movers, you’ve probably heard about moving insurance. Whether you’re moving down the block or across the country, you want to know that your possessions are not only being taken care of, but that you also have a backup plan in case of damage or loss.

To help you identify the right type of coverage for you, Around Town Movers shares an easy-to-use guide about each coverage.

Released Value Protection

Released Value Protection is offered for free (at no additional charge for you), but this is the only good thing about the most basic of all basic protections you can get when moving house. The biggest drawback of this type of valuation is that its protection – at 60 cents per pound per article – is absolutely minimal.

Full Value Protection

Full value protection is not free, but it provides comprehensive full coverage. It means that the moving companies are liable for the full replacement of any valuables they transport to another long-distance location. This is stated liability, where you set the limits for your moving company’s liability. You’ll pay a premium based on the total amount of coverage for lost, destroyed or damaged belongings.

Third-Party Moving Insurance

This type of coverage is a form of liability insurance. With this coverage, your movers will still compensate you for up to 60 cents per pound of damaged property. Working with an insurer, the moving company will use this policy to make up the difference up to the limit of your policy.

Bottom line: Released Value vs. Full Value vs. Third-Party Moving Insurance

In a nutshell, here’s what you’ll get when choosing Released Value Protection, Full-Value Protection or Third-Party Moving Insurance.

Released Value Protection

• Cover up to 60 cents per pound per article
• Almost never covers the full market value of an item
• Offered at no additional cost for you (free of charge)

Full Value Protection

• Give you full-value protection on your inventoried items
• Repair broken items that can be repaired
• Replace broken items beyond repair or lost items
• Offer cash at the current market value of broken or lost items
• Don’t cover high-value articles

Moving Insurance from a Third-Party Insurer

• Cover high-value articles (valued at more than $100 per pound)
• Complete the valuation coverage
• Cover damage from natural disasters

When you’re unsure of what type of moving insurance to get for your items, you should speak with your movers about which one of the insurance options will make the most sense in your specific relocation case.

Let Around Town Movers help you do what we do best and make short work of your next home move. Call us at (703) 682-5922 , or fill out our contact form to discuss your upcoming house move and to learn about our current packing and moving specials and discounts!  We serve clients in Maryland and Ashburn and Arlington, VA.