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What You Need to Know About Insuring a Long-Distance Move

By Mike in Downtown San Diego Real Estate|Home Buying with 0 Comments

Is Mover's Insurance Really Necessary?

Maybe you’ve been eyeing Downtown San Diego condos for sale for a while and this sunny, warm weather has inspired you to pack up and head west. While we are happy to have you, one of the most important parts of planning a long-distance move is making sure that your belongings are properly covered. Any moving company that you hire will automatically offer a basic level of protection for all goods that are transported. Understanding how this coverage works and what it will provide is vital for knowing whether or not additional protection is necessary.

What Basic Coverage Entails

It is first important to note that moving companies are not in the business of selling insurance. Thus, the protections that these entities supply are slightly different from those that you’ll get when purchasing a plan with an actual insurance company. At the most basic level, moving company coverage is referred to as “released value protection”. For each pound of goods that your mover hauls, you’ll get 60 cents of protection. This is true whether your provider is hauling boxes of gym socks or prized works of art.

Full-Value Protection

The next step in moving company coverage is known as “full-value protection”. While basic coverage will come as standard with your moving services, full-value coverage will cost you about 1% of the total assessed value of your goods. For $10,000 worth of personal items, you’ll pay just $100 dollars for coverage and will get the full replacement value of these goods should any damages or other forms of loss occur. Ultimately, for a fairly nominal charge, you’ll get far greater assurance than protection at just 60 cents per pound can provide.

The Requirements for Coverage

There are a few basic requirements that must be met in order for your claims to be considered as valid by your moving company. For instance, all covered goods must be boxed by your moving company and in moving cartons that they have supplied. If you opt to do your packing on your own, your provider can assume that damages were incurred when you boxed your goods up, rather than while they were being transported.

Your Condo Insurance Plan

You may have a few protections that are offered by your current condo insurance plan that could effectively supplement the basic, 60 cents per pound coverage that comes standard with your moving services. Many condo insurance policies have special provisions that protect policyholders’ household items whenever these are temporarily out of the home. To find out whether these protections are present in your plan and to know more about the limits they entail, contact your insurer before binding full-value protection through your moving company.

Still looking for your ideal piece of Downtown San Diego real estate? Get those boxes ready, 92101 Urban Living is here to help you find just what you’re looking for, from lofts in the East Village to penthouses overlooking the Marina District. Check out our inventory and give us a call at (619) 649-0368 to learn more about any of our properties currently for sale. ')}