Insurance

Your movers insurance may seem a bit confusing but this may help explain insurance, additional insurance charges and your coverage.

3 Insurance options are available to you:
.60 per pound Basic depreciated value coverage
$1.25 per pound Depreciated value coverage
$4.00 per pound Full value coverage

Basic Depreciated Coverage- You are automatically covered with .60 per pound depreciated coverage; this is included in your movers hourly rate. This rate is based on weight, and weight is estimated, generally by room. For example most rooms of furniture are estimated to weight between 1,000-2,000 lbs. Lets say your shipment is estimated to weigh 5,000 pounds, with the standard .60 per pound depreciated value coverage your shipment would be insured for up to $3,000.00.

This is how the coverage is computed:
Weight 5,000.00 x .60 coverage per lb = $3,000.00 total coverage. This doesn't mean that if one item is damaged you would be reimbursed $3,000.00. With the depreciated coverage your items will be repaired (if repairable), or you will be reimbursed the depreciated value of the item.

Depreciated Value Coverage- this 1.25 per pound option is available for .50 per $100.00 value: Example- your shipment weighs 5,000 lbs, your coverage will be $6,250.00 and your additional cost will be $31.25.
This is how the coverage is calculated:

Weight- 5,000 x 1.25 -coverage per lb = $6,250.00 total coverage.

You are charged an additional .50 per $100.00 of value, so to calculate your cost you multiply $6,250.00 x .50= $3,125.00 then divide by $100.00 = $31.25 which is your cost.

Full Value Protection protects your items up to $4.00 per pound, and costs you an additional .75 per $100.00 of value. For example- your shipment weighs 5,000 lbs your coverage would be $20,000.00 and your additional cost would be $150.00. However, you may declare the value of the shipment up to $50,000 with full value protection. Your cost for that level of coverage would be $50,000 x.75/100 = $375.00-charge.


The cost for different levels of coverage
$40,000 coverage for an additional $300.00
$30,000 coverage for an additional $225.00
$20,000 coverage for an additional $150.00

Please call us if you have any additional questions about your insurance coverage.