Moving Insurance FAQ
Moving insurance is one of the topics we get the most questions about. When you’re moving in Colorado, it’s not enough to find a reliable Denver moving company. You need to find a moving company in Denver that offers several options to protect your belongings. Below you’ll find our answers to the most frequently asked questions about moving insurance.
Do I Need Moving Insurance?
The short answer is, “It depends.” If you have high-value items that will be difficult for you to fix or replace should they be damaged in transit, then you probably want to opt for insurance coverage. Some people who are only moving a short distance in Denver may think that they don’t need mover’s insurance since their belongings are only going a short ride. Even with the most careful of movers, unexpected things can happen. If your items would be difficult to fix or very expensive to replace, you may want to consider insurance.
Is The Mover Required To Provide Moving Insurance?
No. They do assume liability for the safe transport of your items.However, the valuation of those items can vary widely. In Colorado State law, every registered mover must provide at least two cargo valuation options. Cargo valuation is not insurance. It is simply the liability that the moving company assumes when they move your belongings. You can choose one of the two valuation options before you move.
The first is Released Value Option. (Amazing Moves calls this option Basic Liability) If your item is damaged or lost in transit, the mover calculates the value of the loss or damage of your household goods as $.60/pound per article, or the value of the item, less depreciation for age and wear. Amazing Moves offers this option at no charge. Many moving companies only offer this option, which is a violation of the Movers Rules established by the Public Utilities Commission
The second is Full Replacement Cost Option. This option allows the customer to recover either the actual cash value of the property or the cost of restoring the property to its former condition, or the cost of replacing the property with the substantially identical property, whichever amount is least. This option generally requires that the customer first declares the value of the items, and it allows the mover to specify a deductible. Amazing Moves offers this blanket coverage, though our coverage does not have a deductible.
If the valuation options aren’t enough coverage for you, there are two additional options for moving insurance available to you.
Additional Insurance Coverage
Additional insurance coverage is available from most reputable moving companies and varies by the provider. These policies require payment up front for coverage and often have a deductible.
Amazing Moves offers a Transit Damage Protection Option which protects you for up to $500.00 total in repair or replacement on a move. This protection is a flat $50.00 fee. Third Party Insurance You can check with your homeowner’s insurance policy to see if your policy covers moving. If it doesn’t, some companies offer additional moving coverage that you can add on to your policy. Check with your home insurer to see what they offer.
Have any other questions about insuring your property for a move? We’ll be happy to answer your questions. Want to move with Denver’s most reliable mover? Call us today.