What kind of insurance should I get from my mover...part 2
First of all, only insurance companies offer insurance. Movers sell "valuation".
Continuing on with yesterdays post regarding movers liability and whether or not you should purchase "extra coverage" from a mover. It is not my intent to be too wordy, but I failed. I know this is a dry subject so I tried to break it up into smaller, more digestable peices.
In the previous post I talked about the minimum liability a mover has to offer. It is .60/lb per article and I won't talk more about that here. There are two other options, but most other movers only offer one other option...full replacement coverage. First the middle option....
In some states, you might be able to buy "depreciated coverage". I would never recommend this. Typically if there is damage, you will get a depreciated amount settled to you. For example, if you had a 7 year old TV, they would calculate that TV cost X amount of dollars. Then they subtract 10% to 15% per year until you get the depreciated amount for the replacement of that TV. Most of the time, you don't get back what you paid for that valuation in the first place. A real rip-off! Most interstate movers do not offer depreciated coverage anymore.
Tomorrow I will talk about full replacement coverage that any reputable mover should offer. That by far is has the most to talk about.
Please feel free to contact me privately with any further questions.
Continuing on with yesterdays post regarding movers liability and whether or not you should purchase "extra coverage" from a mover. It is not my intent to be too wordy, but I failed. I know this is a dry subject so I tried to break it up into smaller, more digestable peices.
In the previous post I talked about the minimum liability a mover has to offer. It is .60/lb per article and I won't talk more about that here. There are two other options, but most other movers only offer one other option...full replacement coverage. First the middle option....
In some states, you might be able to buy "depreciated coverage". I would never recommend this. Typically if there is damage, you will get a depreciated amount settled to you. For example, if you had a 7 year old TV, they would calculate that TV cost X amount of dollars. Then they subtract 10% to 15% per year until you get the depreciated amount for the replacement of that TV. Most of the time, you don't get back what you paid for that valuation in the first place. A real rip-off! Most interstate movers do not offer depreciated coverage anymore.
Tomorrow I will talk about full replacement coverage that any reputable mover should offer. That by far is has the most to talk about.
Please feel free to contact me privately with any further questions.
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