Do I Need Moving Insurance?

May is National Moving Month, which means it is the busiest moving season of the year. Everyone knows that accidents happen, and that also holds true in the moving industry. However, this Boston moving company provides protection for items that are accidentally dropped or broken. But be careful, don’t call it moving insurance. Moving insurance is a common misnomer by consumers. What you are really buying is called valuation. Do I need moving insurance?  No, you need valuation… This means the client that is moving is assessing how valuable their items they are moving are worth and once they have done that, they can purchase a plan known as Full Replacement Value, which effectively covers the cost of a broken item.  For example, say a TV falls down a flight of stairs; the moving company will then be responsible for repairing it, replacing it, or cashing it out for its value. If you purchase the Full Replacement Value coverage plan it will most certainly reduce some of the moving day stress, especially if your TV falls down a flight of stairs. The other option for clients is called Declared Liability. Declared Liability is a plan when, if purchased, the customer receives 60 cents per pound, per article. Let’s look at this again using the TV example. Say the TV that’s broken weighs 100 pounds; the customer will receive a check from the moving company that will be 60 cents, times the 100 pounds. That isn’t much money. The mover can then hand you the check and that’s it. Here at Humboldt we strongly recommend purchasing the Full Replacement Value plan, for peace of mind. As for paying for Full Replacement Value valuation it depends on the dollar amount of goods you have in your home. You could have $15,000 worth of goods, or $150,000 worth of goods. For each $1,000 there is a certain amount of money charged, so the price varies from mover to mover. However, the Declared Liability valuation is free, and that is an industry wide standard. But you could regret that if you do have damages. Humboldt prides itself on making moving day stress free and the Full Replacement Value plan is one more way to achieve peace of mind of moving day. Here is a short video of Jim Sullivan and I speaking on ways to protect your items while moving.