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Moving Valuation Coverage Explained: What It Covers and Why You Need It

Moving truck filled with boxes

When preparing for a move, safeguarding your belongings is a top priority. At Positive Moves, we offer moving valuation coverage, which provides access to our cargo insurance, ensuring your items are protected during transit. It's important to note that this is not the same as selling insurance—only licensed insurance agents can do that. Instead, we offer valuation coverage options that help mitigate the financial risk should anything unexpected occur during your move. Here’s a detailed look at moving valuation coverage options and how they can benefit you.

Types of Moving Valuation Coverage

1. Full Value Protection

This coverage is the more comprehensive option available, ensuring that your belongings are protected up to the full amount declared. Under Full Value Protection, if any of your items are lost, damaged or destroyed while in transit, we can either repair, replace with a similar item or make a cash settlement for the cost of repair or the current market replacement value, up to $50,000 per truck. It’s important to remember that this option does come at an additional cost and a deductible applies. This level of coverage is especially beneficial for those moving valuable items, as it provides significant financial protection.

2. Released Value

As the more economical option, Released Value provides minimal protection at no additional cost. This plan covers your belongings at 60 cents per pound per item, which means if a 10-pound item valued at $1,000 is damaged, you would only receive $6.00 in compensation. This level of protection is often insufficient for most homeowners but offers a baseline if budget constraints are tight.

Why Opt for Valuation Coverage?

Choosing the right level of valuation coverage ensures that:

- Your Belongings Are Protected: Whether you opt for Full Value or Released Value, having some level of coverage helps manage the financial risk associated with moving.

- Flexibility: You have the choice of selecting a coverage option that best suits your budget and the value of your items.

- Peace of Mind: Moving can be stressful, but knowing your belongings are covered can ease your concerns and let you focus on settling into your new home.

Consider Additional Insurance Options

While valuation coverage provides a layer of protection, it might not cover everything. We always recommend that our customers check their homeowner’s insurance policy to see if it covers goods in transit. Additionally, for high-value items such as artwork and antiques, it might be wise to purchase additional policies from specialty insurers like Lloyd's of London. These policies can offer further protection for your most valuable possessions and are particularly important when moving items whose value exceeds the limits of our Full Value Protection plan.

At Positive Moves, we strive to provide comprehensive moving services that include robust valuation coverage options. Understanding these options and selecting the right one for your move is crucial in ensuring that your belongings are adequately protected. If you need help deciding or have any questions about our moving valuation coverage, don't hesitate to reach out. Let us help make your next move a secure and positive one!

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