A Clear Picture: Know What You Are Buying

So, you think you have this moving insurance stuff figured out? Or perhaps you think your belongings are covered by your moving company and you don't need to buy insurance? Do you know what valuation is? Have you read the fine print? A recent National Association of Insurance Commissioners (NAIC) survey shows that while most Americans believe they understand insurance, on average, they could not answer basic insurance questions. So this means that people don't really know what they are buying.

For a similar example, look at what has been happening with the purchasing craze of HDTV sets. Customers bring their new tvs home and become furious when they plug them in and see that the picture is not the same quality as it was in the store. They complain to the store and are told that they must purchase a high-definition signal from their cable provider. According to a study by the Leichtman Research Group, 42 percent of HDTV owners aren’t actually watching any high-definition shows on them, but 18 percent of them think they are. Adding insult to injury is the fact that standard-definition broadcasts look worse on HDTV screens.

When moving, a lot is at stake. Valuation only covers a fraction of the value of your items, as little as 60 cents per pound per item. For example, if your mover lost or damaged a 10-pound stereo component valued at $1,000, you would only receive $6.00 in compensation (60 cents x 10 pounds). Be sure it's clear what you are getting into. We're happy to answer any questions you may have.