Many people mistakenly assume that if their belongings are damaged during a move, the moving company will pay to repair the damage or replace the items. For that reason, they may opt to forgo moving insurance costs to reduce their moving costs. This can be a costly mistake.

It's a mover's liability that items might be damaged, even when handled by professional movers. As such, if an item is damaged and the mover wasn't negligent, the cost to replace or repair it is the customer's responsibility.

Keep reading as we explain why moving insurance is so important, the two types of coverage and their costs, and how to choose the right moving coverage option.

What Is Moving Insurance?

Moving insurance, also known as valuation coverage, is a type of insurance that's provided by your mover. While still technically insurance, this isn't traditional insurance in the sense that you can't purchase it from a broker like you might with your car insurance or home insurance. Instead, it's offered by professional movers directly to customers.

So, what is moving insurance? When hiring movers, there are two primary types of moving insurance you can purchase: basic or released value and full-value protection.

Purchasing released value protection or full-value protection moving insurance is a decision that's left up to the customer. So is choosing the right moving coverage options for your move. Many professional moving companies are not upfront about what their insurance options cover, or what isn't covered by insurance, which can make the decision between replacement value and full-value insurance even harder. 

This isn't the case with Muscular Moving Men. Instead, you'll know exactly what is and isn't covered, so you can protect your valuable items and sentimental belongings, both when moving locally and long distance.

Released Value vs. Full-Value Protection

Let's take a closer look at the two moving liability insurance options.

Released Value Protection

Released value coverage pays a set cost per pound of belongings, regardless of the type of item. For instance, you would receive the same compensation for damage to 10 pounds of clothing as you would for a 10-pound piece of furniture. Typically, released value protection pays around $0.60 per pound. This means that a $1,000 TV might only qualify for a $10 reimbursement in the event of damage.

Released valuation coverage is the most basic coverage option, and it's the minimum coverage a homeowner should have. While it won't cover the extraordinary value of items like tech, furniture, or valuables, it does provide some reimbursement in the event of damage.

Full-Value Protection

The second option that insurance companies offer is full-value protection. With this form of moving insurance, you get more than basic coverage, with full replacement value for any belongings lost or damaged during your move. With full-value insurance, your insurance covers the value of your belongings, rather than paying a set price per pound.

Determining the value of your belongings can vary. Usually, insurance companies will cover the cost to repair or replace your item based on the current market value. Or they'll give you the actual cost value of your item. For instance, if your television is damaged during your move, you'll get a new TV or a payout for its replacement cost.

This form of insurance coverage is the best choice for those with high-value items like expensive furniture or electronics. Consider the estimated value of your biggest or most expensive items, and what it would cost you to replace them. If you own antiques or items purchased many years ago, you may want to look at pricing data to determine the total estimated value of each item to better understand how much you'll need to spend to replace it if broken, and you don't have insurance or have limited coverage.

Muscular Moving Men charges around 1% of the declared value of each item. For instance, that means you'll pay around $30 to cover $3,000 worth of belongings.

When Is Moving Insurance Worth It?

If you want to protect your belongings during a move, it's important to purchase insurance. From interstate moves to long-distance moves, a lot can happen to your valuable belongings. There are even a few situations when moving damage claims are more common, including:

• Long distance moves
• Fragile or high-value items (art, instruments, TVs)
• When you need temporary storage during the move
• First-time movers who want peace of mind

In these instances, moving insurance costs are a small price to pay compared to the cost of replacing the total value of any damaged items.

It's important to keep in mind that natural disasters aren't covered in your moving insurance. Natural disasters, such as heavy wind and rain, can cause damage while your items are being packed and moved. However, your moving insurance covers only damage directly related to the move, not these natural disasters. Instead, your third-party coverage for your home or apartment could help cover the cost to repair or replace these items.

Of course, moving insurance is only worth it if you know what you're protecting. Creating a list of items that you plan to move can help with this.

How Moving Insurance Works With Muscular Moving Men

Muscular Moving Men makes it easy to protect your belongings during your move. Instead of purchasing moving insurance from third-party companies, we cut out the third-party insurers and pass on valuable insurance options to our customers. While booking our moving services, you can also select the insurance coverage that's right for you.

Before choosing which moving insurance you prefer, you'll want to determine the value of your belongings, as you'll need to state this while choosing your insurance. This shouldn't be a rough estimate, as this total will be used to cover items damaged during your move. If something does go wrong during your move, you can easily submit a claim.

While moving insurance is an additional cost, Muscular Moving Men makes it even more valuable with no hidden deductibles and real support if anything goes wrong, helping you enjoy a stress-free move.

How to Decide What’s Right for You

So, how can you decide whether moving insurance is right for you? Start with a checklist that asks basic questions about your belongings and their full replacement value, including:

• Am I moving far?
• Do I have items I can’t easily replace?
• Can I afford to risk covering damages out of my own pocket?

If you're unsure of the answers to the questions above, or if you plan to use temporary storage for your belongings, it's best to err on the side of caution and purchase moving insurance when working with moving companies.

Purchasing Moving Insurance

Many first-time movers assume that their homeowners' insurance or renters' insurance policy will provide coverage if their belongings are lost or damaged during their move. However, this often isn't the case. Instead, it's important to purchase comprehensive coverage to protect your belongings during your move.

While many movers offer basic coverage, if you truly want to protect your belongings and avoid high replacement costs, it's a good idea to purchase additional coverage and carefully consider the coverage available to you. That way, if you do have to cover items and start the claims process during your move, you can do so knowing you'll at least partially recoup the cost to replace or repair them.

Moving insurance isn't a scam. It's a smart way to protect your belongings when hiring moving companies. Muscular Moving Men offers comprehensive protection to help you rest easy during your move. Electrical accidents, mold, and other natural disasters aren't covered, but drops, bumps, and other routine damage are.

Get in Touch With Muscular Moving Men Today

Don’t gamble with your move; get peace of mind and full coverage by choosing Muscular Moving Men, trusted Phoenix movers who offer clear, affordable moving insurance cost options. Get your free quote today by calling (877) 434-8668.