Answered by Nicole La Capria
July 23, 2015Hello, and thank you for visiting Movers.com!
Moving insurance is important during your move, since moving companies are only legally required to provide released-value compensation for damages at $0.60 per pound per item for interstate moves. Since this is clearly not enough coverage, many movers also offer full-value protection- which means your moving company will repair, replace or provide cash for loss or damaged items, with some exceptions. They may limit their liability for damages to what is known as items of extreme value, such as items with a value of at least $100 per pound. Also, if you packed your own boxes, the movers are often not liable for damages.
Purchasing additional insurance from a third-party carrier is often the safest way to protect your items. While you say your current homeowner's insurance does not cover your move, you may be able to purchase an additional policy from them to protect your items during transit. Most third-party insurance companies offer some kind of relocation insurance--a quick online search should give you a starting point to compare quotes.
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