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Safeguard Your Relocation with Legal Assistance
Are you planning to move soon? If you’re doing it by yourself or hiring a moving company, it’s important to note that moving insurance can be a hassle. Let’s look at the ins and outs of moving insurance.
Types of Moving Insurance
Full value protection moving insurance is the most comprehensive and expensive option. Hiring the insurance offered by the moving company typically costs 1-2% of your possessions' total value and ensures the mover covers the full cost of lost, damaged, or destroyed items. Unique or high-value items need to be explicitly listed for coverage. Other options cost about $1.25 per pound but vary depending on the company.
Released value protection costs nothing but comes with risks. If you are looking to lower your moving insurance costs, Released Value Protection insurance is free. However, movers are only liable for a fraction of damaged items' cost, typically 60 cents per pound. If you want to choose this option, be sure to specify; otherwise, the moving company might automatically enroll you in the more expensive Full Value Protection.
Does renter’s insurance cover moving?
Maybe. Read the fine print of your renter’s insurance policy before hiring a moving company. It will specify if and how it covers costs for damages to your property. If you are moving on your own, your renter’s insurance might protect you more fully. However, your renter’s insurance may not cover damage if you hire a moving company; it only covers if you move everything yourself.
How can LegalShield help you when you move? For a low monthly payroll deduction, you can access a LegalShield provider law firm to assist with most personal legal matters, including reviews of moving and renter's insurance contracts. This benefit gives you a provider lawyer to make a phone calls and write letters on your behalf, plus you'll have 24/7 emergency access for covered issues, and more.
Get the peace of mind you deserve during your move with your Provider Law Firm's help.
If you still need to become a member, look for this benefit at your next enrollment opportunity.