By: John McKenzie
Submitted: 2010-08-16 06:54:21 | Word Count: 565
You must be wondering about the need for taking a moving insurance if you are off to shift from one location to other. But the fact is that no matter how careful you are in choosing the movers, accidents are bound to happen. There is no guarantee that boxes would not be bumped or dropped during transit and how much ever you do the research there is no surety that the goods would arrive completely safe. There is only one thing that is in your hands which can be controlled. You can make sure if the moving company that you hire is effective at resolving claims and your things would be adequately covered if an accident occur.
Usually most of the moving companies provide valuation for the goods. And it has to be noted that it is not exactly insurance. Valuation can be termed as the limit of liability as stated on the moving contract or the bill of lading and comes automatically as part of the contract. In most of the cases, valuation has no relationship to the original cost of your goods and comes with no extra cost. Thus it becomes important to know if you are covered under the moving insurance as there are three types of valuation the Chicago moving companies may provide.
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First one is the declared value in which the value of your possessions would be based on the total weight of the shipment multiplied by a specific amount. Here the depreciated value of the damaged good would determine the settlement money. Secondly in lump sum vale or assessed value the insurance would be based more on cost than weight. This is with things that do not weigh much but are valuable. This value should be specified in the bill of lading. Third method is full value protection in which the coverage includes lost, damaged and destroyed property. Coverage is given for repair or replacement of goods. Generally there would be a minimum coverage amount and applicable deductibles.
Once you have understood the three different types of valuation, it is time to assess the value of your household goods. First you have to note down all significant piece of furniture, glassware, appliances, electronics and cameras. Each one should be numbered and the approximate weight should be noted. Give every item or box a replacement value which means the cost to replace them with another item of comparable quality. It is wise to take photo of all pieces especially items with high value as it would help you in keeping a track of the inventory. Ad up the number of items and keep the list with you. This would help you in determining if the Chicago movers are giving enough coverage.
While meeting with the potential movers, make sure that what kind and exactly how much liability coverage would be provide for property loss or damage. Check the contract for the estimated value of our possessions which should be compared to your own list. Determine the maximum value that they would give if your goods are damaged. You must also know the moving company's process to submit a claim.
Author Resource:-
USA Moving and Storage is a Chicago movers providing moving and storage services to businesses and consumers. We staff our headquarters with the most qualified Chicago Mover and personnel available in the household goods moving industry.
