Moving can be a stressful experience. One thing you can do to make it less stressful is to evaluate carefully your options for protecting your household possessions while they’re in the custody of your moving company. A wide range of options are available from moving companies, private insurers and your existing Homeowner’s or Renter’s insurer that provide varying levels of insurance or valuation protection for different causes of loss. No matter which mover you select, it pays to prepare in advance of your move so that you’ll have time to gather the necessary information you’ll need to weigh your moving insurance and mover’s valuation options.
Movers Valuation vs. Moving Insurance
In the US, insurance company practices are regulated by each state’s Insurance department. Each insurer is responsible for handling the claims of its customers and complaints arising during the claims process can be referred to the state’s Insurance department if they are not satisfactorily resolved by the insurer.
On the other hand, moving companies are NOT insurance companies. In order for them to sell moving insurance, they would need to be licensed to sell insurance and would be subject to the same regulations as insurance companies. That’s not something your typical moving company would want to do. Still, they want to offer some protection to their customers if damage or loss occurs to their personal property while it’s in their possession. This protection is known as mover’s valuation. Priority Moving provides more information about mover’s valuation and third party moving insurance.
Moving Insurance Information
Moving can be a stressful experience. One thing you can do to make it less stressful is to evaluate carefully your options for protecting your household possessions while they’re in the custody of your moving company. A wide range of options are available from moving companies, private insurers and your existing Homeowner’s or Renter’s insurer that provide varying levels of insurance or valuation protection for different causes of loss. No matter which mover you select, it pays to prepare in advance of your move so that you’ll have time to gather the necessary information you’ll need to weigh your moving insurance and mover’s valuation options.
Movers Valuation vs. Moving Insurance
In the US, insurance company practices are regulated by each state’s Insurance department. Each insurer is responsible for handling the claims of its customers and complaints arising during the claims process can be referred to the state’s Insurance department if they are not satisfactorily resolved by the insurer.
On the other hand, moving companies are NOT insurance companies. In order for them to sell moving insurance, they would need to be licensed to sell insurance and would be subject to the same regulations as insurance companies. That’s not something your typical moving company would want to do. Still, they want to offer some protection to their customers if damage or loss occurs to their personal property while it’s in their possession. This protection is known as mover’s valuation. Priority Moving provides more information about mover’s valuation and third party moving insurance.
Helpful Moving Insurance Information Resources
Protect Your Move – Understanding Valuation and Insurance Options
Go Movers – Moving Company Insurance and Valuation