Any move can seem like a monumental experience for a family. From having to change addresses with utility companies to effectively getting your belongings packed into a moving truck.
One of the biggest concerns during a move is the protection of your valuables as they travel from point A to their final destination. Even with a professional moving company on your side, mistakes can happen and coverage is essential to preventing a total loss.
Many customers believe that insurance is the only way to cover a move, but valuation coverage may be the best option for your family based on the value of the items shifted around during your move.
Is Valuation Coverage the Same as Insurance?
At their core, valuation coverage and mover’s insurance may seem like the same service. However, beneath the surface, they are completely different choices a mover should make.
Standard insurance is something that only protects your valuables to the extent that an insurance company is willing to cover them. Valuation coverage, on the other hand, is Federally regulated.
This means that when a customer opts for valuation coverage, they are signing on for a protection service that the moving company directly covers in the case of losses and damage.
What Does Valuation Coverage “Cover”?
Whether you’re preparing for a local move or a long distance move, valuation coverage is something that can be applied to the majority of what you consider to be valuable in your move. However, a mover will only pay a claim that is directly caused by the moving company. This is why when you opt for valuation coverage, it’s important that you do so with a professional moving company that has the reputation and financial ability to take responsibility for any damages.
What Are My Options?
Purchasing insurance means that you’ll have to prepare for a specific amount and leaves you at risk for underinsuring your belongings. Valuation coverage offers three simple options that are easy-to-understand and protect you from unexpected out-of-pocket costs if something goes wrong during your move.
Released Rate Liability
Released valuation coverage is usually a free option because it only covers a portion of your belongings. Based on this option, the maximum amount that your items are covered is 60 cents per pound of the damaged or lost article.
This is considered basic coverage and can be applied to any item in any type of move.
Full Value Coverage
Full replacement value coverage comes with a price point of 5-6 percent of the weight of your items being moved. Usually, this type of coverage offers protection at 6 dollars per pound of your total shipped items.
Some moving clients may be wary about the price point of this coverage. However, the extra price point comes with the benefit of your movers covering your damaged or lost products at their current market value.
Extraordinary Value Coverage
Items of extraordinary value are typically things like fine art or antique furniture that is valued at over 100 dollars per pound. If you know that your move contains items that are considered to be of extraordinary value, it is imperative that you ask your mover about valuation coverage for your specialty items.
Questions About Valuation Coverage for Your Move? Element Moving & Storage can Help!
If you have questions about valuation coverage, Element Moving & Storage is the luxury moving company that has the answers for you. Don’t leave your belongings in the hands of a value mover that can’t or won’t take responsibility for damaging your property. Contact us today to learn more about valuation coverage and our moving and storage options we offer to all of our valued customers.