Misinformation when it comes to moving insurance could lead to things going wrong. That’s why it is important to arm yourself with the knowledge about moving insurance so that you can make informed decisions. As well as to avoid common mistakes that people can fall into. Learn how to protect your belongings during your move with the right use of moving insurance. But, remember to speak to a professional for more accurate and updated information on moving coverage.
While in transit from one home to another, something could go wrong. Luggage could get lost, accidents happen, and items can even get broken while they are tightly wrapped. Therefore, moving insurance is what you would want to cover the cost of lost or damaged goods.
Plus, it will give you peace of mind knowing your stuff is insured in incase something were to happen. Murphy's Law at least says something will happen without insurance. Moving companies cannot sell you insurance policies, but they can (and by law are required to) give you valuation options.
Working out the cost of your moving insurance will require an insurer to be present. They would take into account the value of your items and the type of moving coverage you are looking for. Basic moving coverage or released value protection is usually free with your agreement with your moving company.
Full value protection is about 1% of the total estimated value of your items.
And, if you go for a third-party moving insurance then you would be looking at between 1% and 5% for your valuation estimate. In this situation, the cost could be from $180 to $900. But, speak to a professional to get the right numbers, the right moving coverage just for you and to do the whole process properly.
Things can go wrong when people do not know how they should be done. When it comes to hiring movers that are tasked with moving your items out of state they are required to offer you two types of moving insurance coverages. This is the federal law.
Therefore, the first mistake would be that you did not know this law and ended up hiring a scammer. Anyway, the two options that are offered are:
Full Value Protection is when the moving company is liable for the total replacement value of items that have been damaged or lost during transit. They can repair, replace or offer a cash settlement. This type of moving coverage is more on the pricey side but it is more comprehensive. However, the cost of full value protection depends on your agreement with the moving company.
The second is known as Released Value Protection. It is the moving coverage that is free but it does give minimal protection. The estimate is usually that for every pound of an item, you will get 60 cents of protection. So, if you have something that is 5 pounds then you would get $3 if it is damaged or lost during the trip.
Another option that some moving companies may offer is separate liability coverage. This is done through a third-party insurance company for extra costs. Third-party moving insurance will cover the rest of the released value protection up to the policy limits. Therefore, you would need to know what those limits are since they can be different from company to company. Plus, you would want it in writing about what is covered and what is not.
Getting a third-party moving coverage would be a good option mostly because some moving companies are limited when it comes to certain liabilities. Such as:
Before you decide to switch the moving insurance you would want to weigh the pros and cons of doing so. Also, you would want to check if there is a need for you to make the switch in the first place. If you are moving to a state that has a higher rate of earthquakes and the likes, then maybe it would be a wise choice to make the switch.
However, the best course of action would be to speak to a professional about it, which can be a financial advisor. Doing research online would usually be a good start but it will take a lot of time since a lot of the results are for car insurance which is not completely the same as moving insurance. Therefore, cut through it by talking to a financial advisor so you know if you need to switch and how to do it correctly.
While the idea of moving insurance and moving coverage may be a lot to take on for first-time movers, moving as a whole does not have to be. Certainly, when you work with Shyft. Shyft is the world's first tech moving platform and our job is to make your moving experience easier with less stress. We will organize your move for you, and it is very easy to get the process with us.
All you have to do is get in touch with us through Shyft’s website. Just fill out the short form, and we will get in touch with you only at the time you want. Not before or after, you can plan your day accordingly and slot us in. While you are on our site you can also read about what else we have to offer you when it comes to your move.
Furthermore, you can also get in touch with us by downloading our free mobile app, Shyft Next. It is available for both Android and iOS devices. This app is necessary since it is how your Move Coach will contact you. You will have a video call with them where you can meet your real-life Move Coach. You can ask them move-related questions, and they can make your inventory list for you right there and then. All you need to do is just to give them a virtual tour of your current establishment during this initial meeting. That way you do not have to organize another meeting.
This initial meeting will take half an hour to an hour depending on the size of your current home. Within half an hour from the end of the meeting, you will receive your inventory list. This list is 95% accurate. And, with Shyft Next you can make the list 100% accurate. Add items, remove others, as well as leave notes that you believe will be valuable to the movers. When you are finished you send this 100% list to us, and we get to work.
We will present this list as well as your moving details (no personal ones) to our secure Move Board. Here is where we gather three or more moving quotes. All the quotes come from experienced, vetted by us, and have all their paperwork updated moving companies. They range from local moves to international ones.
Meaning we will find the right one for you. What is more, is that every moving quote comes from a different company. You will see what we found as well as get given information about the certain moving companies that have to offer you. You can contrast through the Shyft Next app and decide which is the moving company for you.
When you have decided, you let us know. We will lock them down for you right there and then. Plus, all the quotes are fixed and there are no hidden costs. Even if your inventory list were to change, the price will not. What you see is what you pay no matter what.
Also, we can offer you our Shyft Card. This is for employers who are planning on relocating their employees. The Shyft Card is a secure platform where they can directly transfer relocation funds to their employees. Plus, they can see how the funds are doing as well as top up if need be. Book a demo on employee relocation to find out more.
Regardless, if you are moving for corporate and personal reasons we will help you with your moving experience. We are on call to you seven days a week.
We have our very own online marketplace, the Home & Lifestyle. So if you are in the market for new mattresses or office supplies then you can check out what we have on our virtual lot. All the physical items will be delivered to your new address saving you money and time. Plus, there are also a range of services on display. Mortgages, storage, temporary living, and more.
This also includes moving insurance such as Lemonade, Covered, etc. So check out what third-party moving insurance we have on offer. All that is on our marketplace comes with a discount including the services.
While you are looking for moving coverages, let us take on your move organization for you. Contact us today to get your Shyft moving process started. And, take a look at what we have on our Home & Lifestyle tab when it comes to moving insurance.
