Insurance Coverage Tips | TheOmegaCode


The Omega Code is not just a website for entertainment news. We have started our blog section wherein we will cover different topics of interest based on our readers’ choice. For today’s post, we have decided to provide some Omega Code Tips regarding transport and how important it is to get insurance for your moves.

Basic Coverage

Federal regulations require moving companies to provide two types of coverage to clients on interstate moves:

 Reverse Value Protection: This is set at 60 cents per pound. You get to reimbursed at the rate of 60 cents per pound for all your valuables. The coverage is included in the quote given by the service provider.
– Full Value Protection: This coverage is based on the value of the contents being transported and is based on about 1% of the value. If any item is lost or damaged during the move, the moving company decides on how to compensate for the property either by repairing to restore it to its original condition or replacing the item.

Check out the YouTube video below to learn more about moving insurance and why it is a good idea to get one while moving:

Expanded Mover Coverage

You may opt to upgrade your coverage based on your risk tolerance. If this is the case, there are numerous options available. Moving companies may offer other valuation options. Declared value enables you to set a per pound amount for your items.

Another option is the assessed value, which is basically the same as the Declared value except the clients set the amount by value and not by weight. This option is better especially when you have lots of small but high-value items that do not weigh much.

What is Not Covered

What is not covered is just as important as what is covered. Valuation coverage exempts moves from being responsible for unpacked items inboxes. You may not be covered for damages inside such a box unless the box shows significant damage. If the items are damaged while in storage, you will not be covered. You will also not be covered for natural disasters such as hurricanes, fires, windstorms, tornados, hail, etc.

Other Options

There is a likelihood that you have some form of insurance coverage via your homeowner’s policy. The extent of such coverage may not be worth much. Most of such policies only cover your valuables when they are in the house and not on the road. You should however check with your insurance company to know what they cover. Basically, some policies will cover up to 10% of items that are temporarily not at your home.

Some insurance companies offer a “relocation Insurance”, a similar policy to declared value or lump sum value coverage which the moving company offers. This will be essential if you prefer to have your items insured by a third party or if the moving company doe not provides this type of valuation coverage.

There is also a total loss coverage, which replaces all your belongings in case of a disaster like theft, fire, truck accident, etc. This coverage applies only in case of a total loss.