Coverage options

Full replacement value - The most comprehensive coverage for your belongings is also the most expensive. It is available for intrastate, interstate and international moves. Under this protection, the mover is liable for the full value of your itemized goods (with the exception of items exceeding a value of $100 per pound). The mover will determine the value of lost or damaged goods and whether to replace, repair or offer a cash settlement for them. Ask about the deductible and inform the movers of any valuable items they may not know about.

Released value - This is the most basic coverage that a mover can provide and is included in the cost of any move. You must request released value coverage and sign for it. Under this coverage, the mover is liable for no more than $0.60 per pound of your belongings. If any of your items are damaged or lost, you will be responsible for most of the replacement or repair costs.

Declared value - Under this protection, the replacement value of your belongings is based on their depreciated value, rather than the current cost of replacement. The mover will be liable for no more than $1.25 per pound of your possessions.

Lump sum value - To be covered under this option, you need to declare the lump sum value of all your belongings. Any items valued under $500 do not need to be itemized individually. Do itemize any items worth over $500. This protection is only available for interstate and international moves.

One important thing to remember about household moving insurance is that movers are not liable for damage to items inside boxes you packed, unless there is physical damage to the box itself. The easiest way to protect against this sort of damage is to hire the moving company to professionally pack your fragile and valuable items. If there is damage to items that were professionally packed, the moving company is liable for the loss.

Additional insurance

You may already be covered for a move under your home insurance policy or have the opportunity to pay a premium for short-term coverage. Otherwise, you can purchase extra insurance from the moving company who may offer a deal from third party insurance provider.