Safeguard Your Belongings with Insurance When Moving…

Insurance personal items, belongings insurance, personal belongings insurance

You could be relocating within the same city or to a different city or interstate, but there can be no promised guarantee regarding the safety of your household goods. Anything can happen on the way—an accident, damage caused by improper handling, natural disasters, and so on. It is therefore to get insurance before the actual moving day. If you are lucky, you might be reimbursed the total value of everything that has been lost, or at least a part of it. Of course, inherited stuff that is associated with beautiful memories can never be replaced, but you have to be prepared for any eventuality.

The rules and regulations concerning insurance are put forth by the State Insurance Department for that particular state. All the insurance companies therefore, come under its horizon. Now, if you are going to be a one-man army doing everything by yourself—packing, loading, transporting, and unloading—then no insurance company would like to offer you any sort of coverage. But if you take the aid of professional movers, your goods will be insured readily.

Many individuals already have Homeowners Insurance. But this policy only deals with stored items within the house. It does not take care of movement of goods. Therefore, it would be wise to get separate insurance for your household things when you are shifting residence. There are certain policies that are meant just for specific goods—this means that you need not insure each and every item; you can opt for only those that you consider extremely valuable.

Coming to the varied policies that are on offer, they differ according to the nature of your relocation. If you are moving from one state to another, it is Interstate. If you are moving from one city to another within the same state, you are traveling Intrastate.

(1) In case you wish to insure all your household goods, it would be better to opt for the “full replacement value” policy. This is applicable for Interstate relocation. There is an additional clause here—you have to pay up a minimum charge of $4 to $5 of the actual shipment weight. However, each company offers a different price where this policy is concerned.
(2) Another kind of policy is the “declared value protection” insurance. This again consists of paying up additional charges. The policy revolves round the depreciated value of an item. The entire shipment is taken into consideration when calculating extra costs—it comes to $1,25 per pound of the actual shipment weight.
(3) A third type of insurance is the “basic carrier liability”. There is another name for it—“limited liability” or “required liability”. The company is not bothered with the original cost of any item. A minimum coverage is offered for the goods that are being transported. This works out to around 60 cents per pound per item, if you are going Interstate. In case your move is Intrastate, then you have to shell out 30 cents per pound per item. Unlike the other policies, you will not have to pay any additional charges.
Whatever insurance you go in for, it is imperative that you hand over an inventory list of all your valuable possessions that need to be handled with care. It will then be easy for the agent to suggest a suitable estimate to cover the costs of these specific items.