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Is Moving Insurance Necessary

By Jynette DeMarco

While moving you may choose to use a moving company to help you relocate, if you do you are entrusting all of your possessions and valuables these moving professionals. If you have not considered buying moving insurance, you should know that most moving companies do not hold guarantee reimbursement for your items should an accident occur, even if the accident is their fault. This means that if something happens in the moving process, you will be left with the cost of replacing your belongings.

In lieu of insurance, moving companies will generally offer you something called "valuation". It is not offer you the same protection. The value of your possessions will be based on weight with this policy and they will only refund you about 30 to 60 cents for every pound.

Sometimes, your home owners and rental insurance will cover the cost of your possessions in a moving accident, but this is fairly rare. Even if your home owners insurance plan does offer this, it will usually only cover about ten percent of the value of your items.

The coverage provided with either valuation or using home insurance will not be enough to reimburse you for the value of your items. This makes moving insurance necessary if you wish to fully protect what you are transporting. It is important to research what coverage your moving company offers and if it is necessary for you to purchase additional moving insurance. In most cases it is beneficial to obtain moving insurance because the value of your items is much more than will be covered by any other coverage in the case of an accident.

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