When moving to a new home, you are presented with all sorts of risks, including damages to your property while in transit. In order to protect yourself financially and ensure that any damage that does occur will be appropriately compensated for, you may want to consider getting moving insurance. There are multiple types of moving insurance plans on the market, each of which covers different dangers and moving scenarios. Understanding the differences between the available variants can help you choose the right insurance for moving day.
Full-Service Insurance
Full-service insurance is exactly what its name would suggest: all of your possessions are insured against any sort of damage or wear that they experience while being moved. However, these types of plans are usually only applied when you have hired professional movers to both pack, load and unload your home. Further, the sheer scope of coverage offered means that these types of moving insurance plans tend to be the most expensive.
Named Danger Insurance
Named danger insurance is designed to cover your possessions when you have hired professional movers. This type of moving insurance plan gives you the greatest amount of customization: you are allowed to name specific dangers and sources of damage in your policy, allowing you to create a plan that covers what you believe to be the most likely reasons why your things may be damaged. This can help you save money over a full-service plan, with the obvious downside of leaving gaps in your coverage.
Truck Rental Insurance
Truck rental insurance is designed for if you are moving yourself, and only covers the period in which you are driving the moving truck. It won't cover damage that may occur while loading or unloading, but this can help you protect against shifting, water damage, and breakage that may occur during transit. This is the best type of policy for homeowners trying to save money by moving themselves, because it protects against accidents while maintaining the DIY price point.
Total Loss Insurance
Total loss insurance is a bare bones moving insurance policy that seeks to protect your possessions from any sort of damage that destroys or loses the entirety of the shipment. This can take the form of a stolen truck, a hurricane, a fire, or a similar event. The main downside is that everything needs to be destroyed for a payment to be made: individually damaged items will not be compensated for. However, it is a good policy if all you're looking for is peace of mind.
Contact a business like Fidelity Moving & Storage Co Inc to learn more.
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