Is moving insurance right for you?

To insure or not to insure? Whether you’re moving across town or across the country, you have the option of insuring your household items while they are in transit.

Your cheapest option typically is released value insurance. This type of insurance is often included at no cost to you by your moving company or for as little as 60 cents per pound. It’s cheap (or free) for a reason: It doesn’t provide a whole lot of coverage, especially if you have a number of valuable items. But it’s probably better than no coverage at all.

Your mover probably offers more extensive coverage called full value insurance, too. This type of coverage costs more than released value insurance, but it offers much greater coverage should your household items be lost or damaged during the move. Another option is to purchase your own moving coverage from an outside company.

It’s a good idea to get several quotes of different types of insurance and decide which is best for you, based on how much you’re willing to pay and how much risk you’re willing to assume for your belongings. Whichever option you choose, read the fine print carefully. Some types of coverage are dependent on your moving company packing your boxes for you and don’t apply if you pack your own.

Want to learn more? Read more about moving insurance at this link.

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