Insuring your Move
Family antiques in the form of cabinets, tables and other stuff should be meticulously packaged or wrapped to prevent damage during a move, it would even be wise to insure them for the purpose of the move so you get paid if any damage occurs in transit. There are several types of moving insurance that varies according of course to the amount of cash you are willing to shell out which is always the bottom line for all insurance products. Below, you will find a list of the different types in ascending order depending on coverage for your reference:
Released Value – is the very basic form of insurance given and issued by moving firms which would be good for general items. This is computed based on the overall weight of items to be insured at a rate of around $0.60.
Declared Value – this form is based on the insurance value the moving firm you chose gives, multiplied by the amount paid per pound of material moved. Computed at $1.25 per pound that for a 1,500 total weight of items to be moved, you pay $1,875 for insurance. Any damage is paid, based on the depreciated value of the item that is damaged during transit by the mover.
Lump Sum Value – is insurance for more expensive items, for which you declare the actual value of the item to be shipped which would be reflected on the bill of lading. This is more expensive for it is itemized and based on the value of the items you declared and is not based on the overall weight of the items to be shipped.
Full Value – is the most expensive for it will cover the replacement, repair or a total cash back option, commensurate to the declared value you indicated on the shipping manifest.
Though they may seem over the top for most moves, if you are moving quite a distance or across shores, the above options gives you the flexibility to safeguard your household goods so you don’t have to suffer for any damage. Moving insurance goes over the very basic released value issued by the moving company, the added expense would be an investment in security that all your goods arrives in proper order safe and sound.