Insuring Your Property During Long Distance Moves
How can you make sure that your goods get from A to Z without damage? Apart from finding the right long distance movers, you should also take some steps to insure your property. There are some things that simply cannot be planned for, such as an accident occurring on the freeway. Insurance is the only way to protect yourself.
Pay Attention to Your Value and Your Deductible
The value of your property isn't the value you paid for it. It's the value to replace it. That cuts both ways. If you purchased a television five years ago for $2,000, you aren't going to get $2,000 for it. You're going to get closer to $500 — the cost to purchase the same model today. On the other hand, if you purchased a television for $20 at a garage sale and it costs $500 to replace, you'll still get the $500. You need to value your items before you decide on the amount of coverage you need.
Additionally, you should pay attention to your deductible because your deductible controls how much you will need to spend before your policy kicks in. Your deductible doesn't need to be very low, but it does need to be lower than the amount that you can spend in cash.
Mind the Gap Between Property Insurance Policies
Either your renter's insurance or your homeowner's insurance policy should have property insurance that will protect you. But the important thing is that you don't have a gap in coverage. When you're moving, you're usually going from one place of residence to another place of residence. That means that you're probably changing insurance policies as well — and you need to make sure one starts when the other ends. But what if you're currently in temporary housing? If so, your homeowner's or renter's policy isn't likely to help you.
Consider Getting Moving Insurance
As noted, if you're moving to a temporary location and are between houses, you probably don't have property insurance. In this situation, you might want to get moving insurance from the moving company itself. Though this is going to be more expensive than an add-on to another policy, it may be the only option if you're currently in transition.
Insurance is incredibly important. Even though you may not need it, if you do, you could really need it. A single accident could wipe out all of the items that you're moving — and the company will not be liable if it wasn't their fault.