First, check with you homeowners contents policy. Some policies are all risk and some are total loss only. Never assume you are covered by your contents insurance. Also, find out what your deductible amount is. If you decline most movers’ valuation policies, you will need to have pay a deductible for you home insurance. Also, your future rates may be affected
Next inquire with your moving companies for the fee of Replacement Value Protection. This means your movers will be liable for the replacement value of any items damaged. Often the amount is arrived at by multiplying the weight of the damaged items by $6 per pound. – But that is just the typical scenario. Make sure you have enough Valuation so that you have received Replacement Value Protection. Don’t assume or you may obtain a depreciated value instead.
Ask your moving company for a written policy before the move that you can keep and refer to later in the event you need it.
Your movers should be approachable at all times. In the event of a claim, find out what is the specific course of action you will need to take in the event of any damages.
Identify any grey areas. Such as packing protection. Typically, movers will not give valuation to any boxes you have packed yourself. This is because they have no control over the quality of packing and the materials used. Consider having the movers pack high value items or taking them in your car.
If you opt out of any Replacement Value Protection fees, the moving company is typically going to accept a very low liability risk option of $0.60 cents per pound per article as mandated by law. . (For a normal kitchen table, that’s about $30.)
Be certain of your protection, and most importantly, be sure you are hiring reputable movers. That really is your best insurance.