Moving Insurance 101 & Why It Is Important

Moving can pose a lot of challenges. One of the issues some people have involves possessions that have been damaged during the moving process. Although this is a rare occurrence with moving companies, mistakes do happen. Luckily, there is a way to protect your household items and that is through moving insurance.

What You Need to Know About Moving Insurance

Before our local Las Vegas movers explain the three different moving insurance packages you can get through a moving company, it is important you first understand what it is.

Moving insurance isn't really an insurance policy, not in the way you think of car insurance or health insurance. Moving insurance is more of a protective cover you can ask for if something were to happen to your household items. This is a preventive measure to protect you if your household items were lost or damaged in the move. Please note that when you hire a Las Vegas moving company, by law are NOT allowed to sell moving insurance.

Different Types of Moving Insurance to Know

Now that you have a general idea about what moving insurance is, our professionals are going to discuss the three different types of moving insurance.

Released Value Protection: This form of moving insurance is the cheaper and more affordable option. According to State Farm Mutual Automobile Insurance Company, released value protection is “the most basic coverage required by federal law, this liability coverage is free and based on weight, paying up to 60 cents per pound for an item. But if your $500 one-pound digital tablet gets damaged during a move, well, it hardly comes close to paying the full replacement value.”1 As stated, this is required by federal law and if you or your family are on a strict budget, this is the option you should go for.

Full Value Protection: This type of moving insurance gives you more leverage. It also happens to be the more expensive plan, but in terms of protecting your items, this is the coverage you would want. Full vale protection is also required by federal law, but whether you want to spend the extra cash on it, that's up to you. Experts in the field of moving highly recommend this package, especially if you have antiques.

Separate Liability Insurance: Governed by state laws, this moving insurance is offered by third parties. State Farm Mutual Automobile Insurance Company said: “If you go this route, make sure you get a copy of your policy and understand the amount of insurance you purchased and the cost for this coverage.”1

Discussing the Options

When you're relocating to Las Vegas, talk to our friendly moving consultants about the different moving insurance options. Our affordable moving company is here to answer any questions or concerns.

Sources:

1. State Farm Mutual Automobile Insurance Company - The ins and outs of moving insurance