Most accidents occur when
you least expect them or when you're not covered.
You are busy finalizing your new home purchase, working to complete your
job transfer, or simply concluding the final details with your moving
company. The process for each of the above tasks probably took you
several weeks, maybe even months to complete, and now you're finally
But what about insuring your household goods against the possibility of
loss or damage while being moved? Have you asked yourself:
Isn't the moving company responsible for the goods, anyway? Aren't they
liable, by virtue of providing the service, to guarantee all goods are
transferred in perfect condition? Or, if not the movers, wouldn't your
goods be covered under your homeowners' or renters' insurance policy?
And, in the case that your move is being executed as part of a corporate
relocation move, wouldn't your company be responsible and pay for any
Surprisingly enough, the answer to all of these questions is a solid NO!
Your moving company, although the prime vendor handling the move, is
responsible for the minimum amount of $0.30 per pound per item in case
of a local and intrastate move, or $0.60 per pound per item in case of
an interstate or international move and will not pay for loss or damages
unless you have purchased additional coverage. Furthermore, the most
moving companies does not even offer insurance; rather, they will
suggest you purchase "Valuation", "Coverage",
"Protection", or any other title of security which is not an insurance
Your homeowners or renters insurance policy covers your household goods
while in your residence, but not while in the movers possession. Even if
it did (which is the case with some policies), remember that it is hard
to obtain new homeowners' policies if your claim history is not
favorable. You would not want to submit the claim through your
homeowner's policy and risk losing the policy altogether.
In most cases of corporate relocation, your company signed a general
agreement with a third party relocation company. Unless directed
otherwise by your employer (and being paid for it too), their agreement
with the assigned moving company covers the liability at the minimum
coverage possible, i.e. $0.30 or $0.60 per pound per item.
Now you are left with a major gap in coverage, leaving your household
goods uninsured. . Review your homeowners policy. Find out exactly what
from your moving company. Get it in writing!
Moving Preparation is Key!