HOW DO I GET FULL COVERAGE PROTECTION?

Margaret Weathers • June 22, 2023

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HOW DO I GET FULL COVERAGE PROTECTION FOR MY GOODS?

MovingInsurance.com – Insurance Coverage Options
(Informational only- movinginsurance.com may change their policies at any time. This is just a guide)

1. Full Service- All Risk (They Load and Drive)

This type of coverage 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 (state to state), Intrastate (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.

 Full Replacement Value - Lump Sum
This insurance option is offered for Interstate shipments only (state to state) and for International shipments. The total coverage amount is determined when you place a lump sum value on the entire shipment, listing the declared value of the shipment at no less than $6.00 times the estimated weight of the shipment. You must list individually all items valued at $500 or more.

Both options utilize the same Full Replacement Value coverage, refer to the same Terms and Conditions and are based on the same rates.

2. Full Service- Named Perils (They Load and Drive)

Named Perils insurance covers only losses which result from causes explicitly listed in the Terms and Conditions. This insurance does not provide coverage to losses occurring at time of loading or unloading of the insured goods. Named Perils Insurance offers two options:

 Named Perils - Selected Inventory
This option provides coverage based on an itemized and selected inventory prepared by you. Only those items listed are insured.

 Named Perils - Total Value
This option offers coverage if you are interested in insuring your entire shipment while individually listing all items valued at $500 or more. Minimum of $6 per pound applies to those items that are NOT high value.

3. Total Loss Only

The Total Loss Only (TLO) type of insurance is designed to protect your goods only against a catastrophe such as fire, flood, truck accident, stolen truck, etc., resulting in total damage or total loss of the shipment. This type offers coverage compensating for damages or losses only in case of 100% damage or loss to the shipment. This insurance type will not compensate for any individual items damaged or lost.

For a complete description of their insurance programs, please refer to the Terms and
Conditions on their website: www.MovingInsurance.com

     


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