Moving homes or offices can be a major life decision, and you must ensure that it goes smoothly and without any complications. No matter how much you plan, there are bound to be last-minute niggles, and you need to be prepared with all kinds of backup plans for your move. A big part of preparing for the move involves using the right kind of moving insurance for your belongings. What exactly is moving insurance? Why should you get it? How do you know what insurance to choose?
What is moving insurance?
Moving insurance is similar to travel insurance, but for your belongings. It is insurance that covers all the belongings that you will be moving from your current to your new home or office space. Different kinds of insurance offer different types of coverage, just like any other insurance cover. Your moving insurance details will depend on what you are moving, where you are moving, and how you are moving. There are moving insurance covers available for storage as well for a limited period of time.
Different kinds of moving insurance
There are various kinds of insurance covers available for your big move. The kind of insurance cover you choose depends on a number of factors:
- Local, national, and international moving
- Road, rail, or freight moving
- Everyday items or valuables
- Old items or new items
- Easy to replace items or rare antiques
Each of these kinds of moves and items are covered in different types of insurance covers. You will need to look at a few options, talk to a moving expert, and make a decision on the best insurance cover for your belongings.
It is important to get the right kind of insurance cover for all your belongings. If the insurance cover is not correct and if you need to claim damages, your request may be denied by the insurance company or you may get way less than what you ideally should get as damages for your belongings. It is, therefore, crucial that you get the right kind of coverage.
How to insure valuable items
Valuable and expensive belongings can include these or other similar items:
- Expensive artwork
- Rare china and showpieces
- Antique furniture
- Wine collection
- Musical instruments
- Crystal and glassware
Many of these may be rare and one of a kind, which means you cannot replace them if they get damaged. Ideally, such items should have separate insurance covers that also include insurance for moving them from one place to another. Check the existing insurance details and ensure that moving is covered. If moving is not covered, you must include these items in your moving insurance and ensure you buy an insurance cover for an appropriate value.
Storage insurance for your belongings
If you plan to keep some of your belongings in a professional storage for a while before moving them to a new place, you should add storage insurance to your moving insurance cover. Storage insurance covers a number of factors such as damages during storage, theft protection, etc.
Know that most insurance covers that include storage insurance only insure certain items and certain kinds of storage facilities there is also a time limit on the storage period. Ensure that you read all the details of the insurance cover to know what you are covered for before finalizing the coverage.
Not everything is covered in moving insurance
These items will not be covered under any type of moving insurance:
- Perishable and hazardous items
- Items packed by you and not the movers
- Natural disasters such as floods, hurricanes, earthquakes, etc.
- No complaint about damaged or lost belongings within a certain stipulated time period
- Items of high value not disclosed to the movers and damaged during the move
Why get moving insurance
If you are still wondering whether you should buy moving insurance, here are a few reasons to consider:
- If you have expensive items to move and they get damaged or lost during the move, a moving insurance cover can help you recover the cost to a large extent.
- If your belongings get damaged during the move because of improper packing or handling, you can claim damages and repair or replace all the damaged items under insurance.
- Many moving companies have their own insurance included in the moving cost, so you may not need to buy separate insurance if you are moving basic household items that are not very expensive.
- Although moving insurance can add on to your overall moving expenses, it can help make the move stress-free for you as you would know that all your belongings are insured.
No matter how few or numerous your belongings, or how expensive or inexpensive the items, you should consider getting moving insurance when moving your belongings from one place to another, even if it is a local move.