The Complete Guide To Moving Insurance For Precious Possessions

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The Complete Guide To Moving Insurance For Precious Possessions

Feb 09, 2022 Good planning can determine the success of your home relocation. Whether you are moving next to the apartment or across the state, you must prepare everything at least two months before the final moving day. Apart from arranging quality packing supplies, make sure you have a backup plan in case of loss or damage to household belongings. If you have looked to book Perth removalists, you have probably heard about moving insurance. Since you can’t avoid unexpected accidents, you need moving insurance to reimburse for damaged or lost items during home relocation. However, there is a lot of misconceptions and doubts related to this, and people find it difficult to find the right coverage. Here is a complete guide to moving insurance that will keep your precious possessions protected throughout the journey:

What is Moving Insurance?

Before a moving team comes to your place to pack belongings, you will need appropriate coverage for your precious possessions. Moving insurance protects your valuables when professional removalists in Perth transit them from one place to another without any complaints. Professionals protect your precious possessions when they are on the moving vehicle or in a temporary storage unit. It is important to buy insurance policies because unexpected events can ruin your expensive items. Get the right moving insurance for your sense of satisfaction before making the final decision. However, moving companies offering moving insurance is not actually insurance. It is more of valuation coverage. It functions like any sort of insurance. The company ensures compensation for your household belongings if they get damaged or lost. They offer to give you peace of mind throughout the moving journey. But, they are not certified to sell insurance and are not governed by federal regulations.

What are Different Types of Valuation or Moving Insurance?

Moving companies in Perth offer different valuation coverage options to their customers. Whether you are moving locally or preparing for an interstate one, make sure you know everything about valuation coverage so that you can choose the most suitable option as per your requirements:

Released Value Protection

It is also known as basic carrier liability and is the cheapest moving insurance or valuation option with minimum coverage. Most removals companies offer this valuation coverage during interstate or long-distance moves. Though companies won’t charge you for released value protection, you still have to ask for and agree to the coverage. However, it comes at no extra cost to you but offers only minimal coverage. In simple terms, this type of valuation option doesn’t provide full protection for your precious possessions. Your moving company are not liable to repair or replace belongings based on the estimated value. In fact, they will compensate you based on the weight of each item. While preparing for your move, make sure you pack your essential supplies and keep it with you, especially if you have kids and pets. How it Works? Moving companies basically reimburse 60 cents per pound for each article. Whether you have expensive valuables or furniture, you will only get basic coverage. Most people don’t want these options because they won’t provide enough money to replace any expensive belongings or possessions that movers may break or damage during the process. For example, if they damage an item worth $2000, they will use the weight and calculate the replacement costs. If that item or furniture weighs 600 pounds, you will only receive $360 to replace your stuff- which is not enough. If you need better coverage against the damage, you can choose other options, such as full value protection or third-party insurance.

Full Value Protection Moving Insurance

This particular type of valuation coverage is more comprehensive than the previous option. However, you have to pay a premium amount to get the full value protection against the damage of your belongings during the relocation process. You will pay a premium depending on the total amount of coverage for destroyed, damaged or lost belongings. Under this coverage, removals companies in Perth are liable for the full replacement of damaged belongings in the long-distance move. These policies let consumers decide what their items are worth per pound. Companies usually cover the minimum value you can easily claim on your items. These amounts range between $4 and $6 per pound for household belongings. Make sure you choose the right time to book a removalists if you want to know everything about the process and moving insurance. How It Works? The companies multiply the total loaded by the minimum coverage value. For instance, if your total declared moving load is 50,000 pounds and your state’s minimum coverage is $5, the moving company will estimate your belongings at $2,50,000. This is the maximum amount you will receive if the insurance company damages or loses your whole shipment. When you file a claim under this, your moving company will provide you three options: • Repairing the item • Replacing it with an item of comparable value • Make a payout for the repairing cost or the current market value of the product. This is one of the best moving insurance options but many full value protection policies have deductibles. So prepare yourself before purchasing it for your precious possessions.

Third Party Insurance Options

Despite this, many people opt for third party options for their highly-priced or expensive items. It is also because renter’s or homeowner’s insurance won’t cover your belongings during the move if you are breaking the policy. However, if you are moving locally and maintaining the policy, it may cover your items during the transition process. It is good to check with your insurance provider twice to know what’s covered. There is no need to pay extra coverage. For instance, if your third-party insurance policy covers your move, you won’t need full value protection. However, if your renters or homeowners insurance won’t cover your relocation, you will have to pick up the valuation coverage option depending on your needs.


This is a complete guide to help people choose the most suitable coverage options for the safety of their belongings. You can contact your removalists in Perth and discuss everything before packing your belongings.