Washington Metro-based Moving Expert Explains How Moving Insurance Works

Baltimore-Washington Metropolitan-based moving company, UMS says that moving insurance not only protects items during a move, it also offers gives peace of mind

Online PR News – 23-November-2015 – Hyattsville, MD – According to Gary Stone, president of Unified Moving Services (http://www.unifiedmovingservices.com), a Maryland-based full-service moving company that specializes in both residential and commercial moves in the Baltimore-Washington metropolitan area, accidents can happen even with the most careful people or the best moving companies are involved. Moving insurance helps to mitigate any damage, should an accident occur.

“Although your grandmother’s antique vase may be irreplaceable, having insurance gives you the peace of mind that, if something should happen, you will be compensated monetarily if there is an accident,” Stone says. “Accidents don’t happen often, but we always suggest that our clients cover themselves just in case.

Stone offers the following primer on insuring that your items are protected during a move.

Basic Coverage

Stone says that Federal regulations require all moving companies to offer two types of coverage to consumers on out-of-state moves.

• Released-value protection covers up to 60 cents per pound. This protection is standard and included in moving charges.

• Full-value protection covers the value of the entire item damaged, and is based on the customer’s valuation of the goods that are being moved. The customer pays about 1 percent of the valuation for the added coverage. If you decide all of your belongings being shipped are worth $50,000, you would pay about $500 for full-value protection.

If something is damaged, the moving company can repair the damage, reimburse you monetarily, or replace the item. But the moving company makes that call. If your 2-year-old washing machine is smashed, the moving company will likely give you the fair- market value of a 2-year-old machine.

Expanded Mover Coverage

Upgraded coverage is usually offered through a moving company, Stone says.

“It is important to note, however, that if your moving company is covering your belongings, it is not insurance,” he explains. “Instead, you are paying for stated liability, setting the limits for your moving company’s liability if your belongings are damaged, lost or destroyed.

• Valuation options: You can ask moving companies or a third party if they offer other valuation options, often called “assessed value protection”, that cover damage beyond the “up to 60 cents” coverage movers supply by law.

• Expanded valuations: Declared value allows you to set a per-pound amount for your belongings. For example, if you decide your belongings are worth $6 per pound and your total shipment is 10,000 pounds, you are placing a valuation of $60,000 on the total shipment. That would be the maximum you would receive if the entire shipment were destroyed or lost. Individual items would be replaced with like-kind, a two-year-old washing machine for a two-year-old washing machine. This is important to consider because items such as used clothing have little actual cash value.

• Lump sum value: Also called assessed value, this coverage is basically the same as expanded valuations, except the consumer sets the amount by value instead of weight. This is better if you have a lot of small, high-value items that don’t weigh much.

“With valuation coverage, movers are not responsible for items in boxes they did not pack,” Stone explains. “Unless the box shows significant damage, you are not likely to be covered for damage to anything inside the box.”

Stone says that whichever insurance you choose, it is important to inspect goods when they arrive at their destination.

“It is also important to carefully read any paperwork the movers might want you to sign once they’ve delivered your possessions,” Stone says. “This is important to ensure you’re not signing contracts that absolve the company of any liability before you’ve had a chance to open any boxes.”

UMS is a full service moving company, located in Hyattsville, Maryland, that specializes in commercial, residential, local, interstate and international moves. Through an organized team of office staff, movers and a well established name and reputation Unified Moving Services has provided services to thousands of satisfied customers across the country and around the world. 2015 marks ten years of Better Business Bureau accreditation for the company. For more information call toll-free at 1-800-406-1649 or visit them on the web at http://www.unifiedmovingservices.com/.

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