Choose a Moving Company Wisely

In researching moving companies, you have probably come across some horror stories--pricey items end up missing, belongings are damaged, and terrible customer service are just a few. Most moving companies wouldn't stay in business unless they provided quality service and proven hard work. So how do you know whether a company is reputable or not? Here are a few questions you should be asking your potential mover:

• How long has the company been in business?
• What type of protection does the company offer against loss or damages? In most cases they will either offer full replacement value or limited liability, which covers as little as 60 cents per pound per article. This means if your movers damage your 10-pound stereo that cost you $1,000, you would only receive $6 in compensation.
• Ask for an in-home estimate from at least three companies. A salesperson from the moving company will go through each room of your house to determine an accurate quote. Estimates given over the phone are usually too good to be true.
• Go to the website of the Federal Motor Carrier Safety Administration. There, you can look up the company's insurance status, licensing, and how many trucks it owns. You can also read about your rights and responsibilities.
• Check a company's ratings with the American Moving & Storage Association and the Better Business Bureau.

Creating a Home Inventory

If all of the contents of your home suddenly disappeared into thin air, would you be able to remember each item that you owned? Whether you are about to move, or you do not plan to move for some time, creating an accurate home inventory is a smart step for anyone, anytime. If you purchase full coverage type of moving insurance, you will be required to create a valued inventory. Although the thought of evaluating every item in your home may seem overwhelming, the peace of mind you will gain in knowing that you will be covered in the event of loss or damage is worth the time and effort. And just because you don't have gold statues at home doesn't mean your items are not of value--the cost of replacing all of your clothing and electronics will far outweigh the cost of your moving insurance.

Whether you are days away from moving or you have set aside your inventory project for a rainy day, plan on setting aside several hours. It will be helpful if your home has recently been cleaned! Too busy? If you are comfortable with hiring someone to help you go through your personal items, you may want to seek a professional organizer if you have a large amount of stuff.

Unless you are using home inventory software, get a clipboard and start making a list of your most valued possessions, describing each item, and if possible, noting where you bought it and how much you paid for it (or the estimated cost to replace it). High value items are those which cost more than $500 to replace. Clip to your list any receipts, warranties, or appraisal notes. Taking photos of each item is also recommended, or you could walk through your home with a video camera. For major appliances and electronic equipment, record the serial numbers. If you have a large collection of similar items, such as rare books, you can value the collection as a group. For valuable items such as jewelry, art work, and collectibles, consider that they may have increased in value since you received them, and you may need an appraisal. Some valuables may need to be insured separately, see your insurer's terms and conditions. Remember, in the world of insurance, sentimental value is not considered--for example, a wedding photo album is valued at its commercial value, not its sentimental value. And don't forget to include items that are in storage.

Once your inventory list is complete, be sure to store a copy in a safe place, such as a safety deposit box. When you move, keep a copy in your personal baggage so that you can go over the list when your items arrive at your new location. And now that your inventory is established, it will be that much easier to update it when you make significant new purchase.

Ask An Expert

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What Is Moving Insurance?

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Well, one type of moving insurance is full coverage. It's for when you're having a moving crew load and drive your valuables to their new location. There are two types of Full Coverage moving insurance:

This type of coverage applies to goods transported or stored by a full service moving company.
All Risk Insurance offers two options

Full Replacement Value - Valued Inventory

• This is the most comprehensive insurance option available and provides the best coverage. This insurance is offered for Interstate (moving from state to state), Intrastate (moving within the same state), and International shipments. For your benefit and for proper coverage, you must list and declare a replacement value on all of the items that you wish to insure. Items may be categorized as a group, such as "living room set, 7 pieces". However, please remember that in the event a claim is filed for any of the items in that category, the settlement amount may reflect the average value of the declared grouped items in that category.
• Full Replacement Value - Lump Sum
  This insurance is offered for Interstate shipments only (moving from state to state) and for International shipments. The total coverage amount is determined when you, the assured, place a lump sum value on all of your goods to be insured considering the declared value of the shipment equals no less than $6.00 times the weight of the shipment. Any items individually valued at $500 or more need to be listed separately in order to be covered at their specific replacement value.