moving insurance necessary

When one thinks about moving the first thing that comes to mind is the countless hours that they have to spend on packaging and labeling boxes. And while this is an integral part in relocating, having moving insurance is even more important and vital. With moving insurance you are almost guaranteed that the furniture and other household items that you have spent thousands of dollars to own and enjoy are well protected from the minute it leaves your old location to the new one. Not only does the moving insurance coverage assist with the damaged property but it can also help you should your items get lost.

Now you may be thinking “which moving insurance would be right for me?” Well, it depends on the size and value of your property and of course how much you want to spend on having it insured. It also depends on where you are going to move whether it is within your city or out of state.

There are two types of coverage which are mandated by federal regulations for moving companies especially those who deal with out of state moves. The released value protection plan for instance reimburses customers at 60 cents per pound for everything that they own.

In addition, some moving companies would also tag on a full-value protection which gives customers a percentage of what they think the bulk of items are worth. So let’s say that you are moving to Boston, Massachusetts  from New Jersey and you estimate the value of your all your items to be around say $35,000. Then the moving company would have you pay 1 percent of the value which in this case would be around $350. When you pay this amount for full-value protection of your items then the moving company would figure out how you should be compensation should your items be destroyed, damaged or lost.

In the case of items that are damaged, the moving company can offer to have it repaired. Similarly, if the item is lost then it would be replaced with a product that looks similar although it may not be equal in price.

Of course, there are other types of moving insurance that may require that you pay on items more than $100 per pound for all the items that you list on your moving documents; another that would have you decide the value of your items by a per-pound amount.

No matter what you choose, make sure that you are absolutely clear on which insurance coverage you are getting into before you sign off on it. Bear in mind that moving companies are not moving insurance representatives so they would not be able to give you as much information that you may require on choosing the right coverage.

However, you can ask the moving company to refer you to an insurance representative who can give you all the necessary information that you need. The insurance representative would be able to tell you more about what types of packages are covered and what a natural disaster would mean for your move and your items.

Written by Margarita Hakobyan

Margarita Hakobyan is CEO and Founder of