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If you're wondering whether you need moving insurance, remember that no matter how reliable the movers, accidents can happen. Boxes can be knocked, dropped or shift during transit and no amount of planning will guarantee the safe arrival of your goods. It’s important to cover your shipments for damage or loss during relocation. Transit protection plans will help you avoid the additional stress of being unprepared when faced with an unexpected situation, and a reliable mover will advise all their clients to sign up for one. It’s not a reflection on how particular the movers are about packing, transporting and storing your items. On the contrary, it shows how much they value their customers’ peace of mind. An experienced moving company wants to provide you with added security so that you’re not losing sleep worrying about “what if”. It would be wise to investigate the moving companies’ safety record as well and customer service reputation. The Better Business Bureau (BBB) and the Canadian Association of Movers (CAM) can provide this information for you. The amount of moving insurance you need depends on the type of transit protection plan you choose. The following options will give you an idea of what’s available to you: • Released Value Plan: This is a basic transit protection coverage that’s usually offered as part of your move at no additional cost to you. Claims are based on the weight of the damaged or lost item multiplied by a certain value (for example; 30lbs of damaged items at 60 cents per pound). This plan works well if you have alternate coverage on your household items that encompasses the entire relocation process i.e. loading, transportation, storage and unloading. Most homeowner policies do not have this additional coverage; • Replacement Value Plan: This will ensure that if the damaged item can’t be repaired to its original condition it will be replaced at the current market value. You will be required to establish a realistic value of all the goods being moved and your shipment must be protected to a minimum value, multiplied by the actual weight of your goods; and • Motorized Vehicle Coverage: This type of insurance is limited to the current market value, model and condition of your motor vehicles, campers, trailers, motorcycles, snowmobiles, boats or motors. These items must be listed separately on the Bill of Lading (legal document that allows the mover to transport your goods). For vehicles of high value (antiques or modified vehicles) you may want to aquire extra coverage that reflects their actual value. Other items of very high value like jewellry, original artwork, or your collection of vintage comic books should not be shipped on the moving truck. These items should probably remain under your personal care, so pack them with you in your own vehicle. Hiring an experienced, reliable moving company to perform your relocation is the best way to ensure a safe move. Movers like these will always recommend that you purchase adequate moving insurance to protect your belongings in case of an accident. Ask your moving consultant about transit protection plans.
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