Why Insurance is Important When Moving?

Why Insurance is Important When Moving?

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Most people think that they can move and do it without insurance. This often stems from the idea that the moving company they contracted will take care of the loss or damage made during relocation. That is where most people are mistaken. The truth is, most moving service providers automatically provide valuation and not insurance.

There are three types of valuation, namely,

1) complete value protection,

2) assessed value protection, and

3) declared value protection based on weight.

Your goods will be covered depending on the type of valuation on your contract. This means only a certain amount of coverage is provided. While most companies do this, some do provide insurance.

What you need to do is to read the fine print of your contract. In order to ensure that your property will be protected, it is best to have insurance when moving. Here at Port Stephens Removal, we want you to understand these details before you contract our services. Read on to find out the importance being insured.

Insurance pays for damages

Sudden mishaps are unfortunate. We cannot foresee when an accident will occur. No one knows when the weather will be destructive. Most moving companies do not cover or pay for damages that were brought about by accidents or sudden mishaps. Read the fine print, it’s there.

That’s why it is important to secure your most valued possessions with proper insurance. Paying for additional coverage for your possessions’ protection while moving will give you peace of mind that, whatever happens, you will be paid.

If the unfortunate happens, your movers will send to the insurance company the value of your belongings. If the item needs repairs, the insurance company will cover the cost of repair. For things that cannot be repaired anymore, the insurance company will replace them. There are also policies that allow you to replace your possessions yourself and the insurance company will just pay you money for the damaged items.

Insurance guarantees business continuity

It is best to expect the worst that can happen than regret after. If you are moving your business to a new location, it is better to secure your company’s belongings than jeopardise your business. When relocating, ensure that you have additional coverage for your property especially if you are relocating stocks.

What do we mean by this? If you are moving your warehouse from one place to another, there might be problems when moving your inventory. If your stock is sensitive to temperature and you don’t have it secured, a change in weather or a delay in delivery might cause it to spoil or get damaged.

This means you could lose your entire stock and your business will suffer. If this problem occurs, the movers might not pay for your stock, but the insurance company will pay.

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Find a reliable moving company in Port Stephens and Hunter Valley

As we have mentioned earlier, you should always read the fine print when signing contracts with movers. Some contracts will say that their company is not liable for any damages acquired during transit. There are also contracts stating that the company will not pay for damages if you packed your stuff yourself and didn’t get it done professionally.

When you contact or meet with a potential moving service provider, make sure that you ask them about their insurance options. Moving insurance costs will depend on two things – your properties’ value and the insurance company. Before you talk to moving companies, you should be aware of the valuable pieces that you are moving so you don’t undervalue them. It is also important that you know their replacement value just in case you need to make a claim.

We cannot emphasise enough the importance of getting moving insurance. For your own peace of mind, get that additional coverage because we don’t want you to regret losing your prized possessions.

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