Friday, 6 July 2012
What Insurance Does House Moving Company Provide?
House Moving is a huge responsibility, as many valuable items from your home are handled, packed and carried out from point A to point B. Anyone and everyone who has moved, knows it is hard to deal with personal items that are fragile, expensive, massive so on and so forth. So when one has such many times, they would not only hire a trusted and professional moving company, the clients would definitely want to know what insurance/s does the house moving company provide, for the best and maximum coverage for those items they want and need to be insured for.
Although professional movers are liable to what happens to your goods, please read through carefully and determine with the house moving company the extent of liability coverage for goods lost and damage, that the company will provide. While reading the terms and conditions properly, also determine the estimated value of your possessions. Clients have to understand and realize that the insurance provided by the house moving company only covers a certain amount of the total value of your goods. And that is why you will need to get the right or additional insurance/s to be fully covered.
Clients would then want to know what insurance/s does the house moving company offers. Insurance that is available through the mover is based on estimation/valuation, that method will determine the obligation by you and the house moving company. Normally there are three types of valuation for the client to consider. Different companies provide different types of insurance.
First, declared value, how that works is that the estimated cost of your things you move may be based the total weight being moved times by a certain amount (maybe $1.50) per kilogram/pound. So for example, if the client’s total possessions weighs in about 5000 KGS , the house moving company would be liable about up to $7,500 (when calculated). Please note this is a rough estimation, it all still depends the situation. The claim settlement will be then based the decrease value of item/s damaged or lost.
Second type would be lump sum value. If the client needs insurance that is based more according to the value than rather on weight, they can get insurance for the particular amount, however the amount is variable dependent on the insurance that is purchased or provide by the house moving company. In such cases the client must know the value of their items that is being moved and declare in writing on the bill of lading.
Thirdly, comes the most coverage desired, which is the full value protection. This kind of coverage includes, destroyed, damaged and loss of goods. This insurance will reimburse the repair or substitution of client’s item/s. Bear in mind, there is a minimum coverage amount from the house moving company and includes relevant deductibles.
Clients can also use homeowners insurance or transit insurance as a supplement. Most homeowner’s insurance policies covers about 10 percent of value of the client’s personal possessions, and can be a good supplement to the insurance provided by the house moving company. Next will be the transit insurance, which is also another worthwhile supplement provided, this coverage can save a client thousands of dollars and is normally available through the house moving company or through the homeowner’s insurance company.
Please remember if you are moving irreplaceable, top valued items, you the client should consider taking special measures in insuring the safety and protecting such items. Clients would be highly advised to buy additional insurance or coverage, which is available by speaking to the house moving or homeowner’s insurance companies.