Congratulations you found your new home! Now let’s get down to the non-glamorous part- planning the move.
Whether you hire a moving company or you you’re on your own, insurance is something you need to consider to protect your property. Here’s the moving tip of the week: know the different moving insurance options and types.
Moving valuation provides basic limited liability protection to your property during your move. Although it comes at no additional cost, it does not often match the actual value of the homeowner’s property. You can go for this moving option when you trust your hired moving company and if you don’t to pay additional cost for expanded insurance.
Just to make it clear, liability protection is different from a moving insurance. Liability valuation protects your property from loss or damage during a move. It does not allow punitive property damages. Say, if your moving company broke your crib during the relocation, you are not qualified to file for a punitive damage claim for loss of sleep. However, you can file for compensation of the damaged item.
Full Value Protection
Under this coverage, your moving company will be held responsible to compensate the value of every missing or damaged item during the move. Just like other forms of insurance, there’s an applicable deductible and minimum coverage amount. The amount of which you’d like to be protected depends on your preference. Again, the valuation depends on the weight of the inventory of the customer.
Lump Sum Value
Another moving insurance option is the Lump Sum Value. Under this type of coverage, consumers prefer to insure their valuables based on not on the weight, but on the cost. It simply means that the insured person insures his household for a particular amount.
Third Party Moving Insurance
Third party moving insurance rates depend on the item you want to insure, the declared value and the insurance company you are working with. Look for a trusted insurance company that provides the best moving insurance cost and rate. A reliable insurance company in Frisco, TX allows consumers to purchase their insurance from their website.
Don’t let hidden costs get in the way to getting your new home. Call us at Bollom & Parker Insurance for more information.