Introduction
When transporting valuable items from one location to another, security is extremely important. Valuation protection and moving insurance are two options for protecting your belongings; however, they are not the same and come with different benefits. Here is a breakdown of both scenarios.
What is Valuation Protection?Valuation protection is not insurance but liability coverage provided by moving companies. It limits the amount that the mover is willing to pay in the event that your items are stolen or destroyed. The two main types of valuation protection are:
- Released Value Protection: This is the most basic and comes free with your move at no additional cost. It covers items at 60 cents per pound per item. For instance, if a 30-pound TV gets damaged, you will only be paid $18 for the lost item.
- Full Value Protection: This additional feature is also more expensive but provides broader protection. If any items are lost, destroyed, or damaged, the mover can either repair them, replace them with items of like kind and quality, or pay the actual cash value.
On the other hand, moving insurance is an independent policy that is acquired from an insurance company to ensure full replacement cost coverage of the items. Here are the benefits:
- Comprehensive Coverage: This policy provides compensation for any loss caused by various perils, such as accidents, theft, or adverse weather conditions.
- Customizable Policies: You can choose the degree of coverage based on the total value of the items that you wish to be insured.
- Quick Claims Process: UMIS (United Moving Insurance Services) is one such insurance company that can help people resolve their claims quickly and without hassle, usually and most of the time.
When packing for a particular move, it becomes crucial to consider how secure your items will be. Valuation protection that most moving companies offer can only replace items according to their weight, which is not ideal if you have expensive items to move. In contrast, moving insurance is inclusive insurance, where your items are covered for all forms of risks and given a replacement cost.
- Higher Compensation: Transportation insurance offers more extensive coverage for lost or damaged items by paying for the market value.
- Broader Coverage: Valuation protection is more limited in the range of risks as compared to insurance policies.
- Peace of Mind: When they know that all of their items are insured, people feel more secure during the moving process.
It is easy to buy moving insurance. Companies like UMIS (United Moving Insurance Services) offer online platforms where you can:
- Get Personalized Quotes: Depending on the value of your belongings.
- Easy Policy Management: You can replace your policy documents and view, update, manage, and print them from your online account.
- Affordable Rates: Settle for coverage that you can afford without pinching your pockets.
While valuation protection can be considered as a form of coverage, moving insurance guarantees comprehensive coverage of your belongings during the moving process. Purchasing moving insurance provides optimal protection for your belongings in case of any risks that may occur during the move. To ensure a smooth and hassle-free move, one may need to seek moving insurance from reputable companies such as UMIS (United Moving Insurance Services). UMIS (United Moving Insurance Services) for further information and to get a quote.