As you are getting ready for your big move, you may be wondering if you should spend the extra cash for moving insurance, because the policy will protect all your belongings if anything were to break during transit. This could range from the moving truck being in an accident and your belongings inside becoming damaged, or even a simple mistake where the movers drop something during the moving process. Here is everything you need to know about this special kind of insurance, which should help you decide if it is best for you.

What Kind Of Moving Insurance Is There?

The moving company that you hired will offer two different levels of insurance to pick from.

The first is for basic coverage only, often referred to as the released value, and it is based off the weight of the item that is damaged at 60 cents per pound. This type of insurance must be offered by your moving company, though it is typically not enough to recover the replacement cost of your damaged item. It will still give you a small cash payout to help replace the item though.

The second type is called expanded coverage. It comes at a premium price, but you can feel assured knowing that anything that is broken during the move will be replaced by the moving company. This can be great for lighter items that are very expensive, such as a flat screen TV.

Are All Your Belongings Covered?

Before you pay for moving insurance, you may want to take a close look at the agreement and find out exactly what is covered. For example, your moving company may only cover items that they pack themselves. That means if you decide to save money by doing the packing on your own time, those items may not be covered under insurance. You will not only need to pay a premium for the insurance policy, but additional man-hours for the items to be packed.

What will be covered are the bigger items in your home. Large pieces of furniture, televisions, computer monitors, and things of that nature. The movers need to take additional steps to wrap these items, and they will be responsible for replacing them with an expanded coverage insurance policy.

If you are worried about your belongings becoming damaged during a move, you will feel at ease knowing that moving insurance can help ensure that a damaged item will be replaced for you.

Contact a professional moving company like Meelheims Transfer & Storage and ask about their insurance policies and rates.