If you’ve ever moved across the country – or even across the city – you know that things have a tendency to go wrong. Your internet connection isn’t hooked up when it’s supposed to be, your kids are bored, your pets are stressed, and you can’t find that one item you need ASAP.
Moving hassles like these are to be expected – but what happens when your move doesn’t go as expected? What happens when, for example, the moving truck transporting all of your belongings crashes and dumps everything you own onto the road?
Ask Alexsis Martin. She’s an elementary school teach who recently moved from San Diego to Pennsylvania, and the truck carrying her stuff flipped over. According to CBS, she probably lost about $25,000 worth of belongings, but because she only paid for the minimum insurance, she’ll probably only get about $6,000.
What’s the Worst That Can Happen?
Moving is expensive. When your budget is stretched to the max, you might be tempted to find somewhere you can cut costs. You might decide moving insurance is a good place to save money. After all, what’s the worst that could happen?
Well, when you’re packing all of your stuff into a truck, the answer is pretty straightforward. You could lose everything you own.
And yes, it could happen to you. Even if you go with a reliable moving company, things can wrong. The truck could be stolen. The content could catch fire. Or, as happened to Alexsis Martin’s stuff, the truck could flip over.
The Takeaway for People Who Are Moving
You might think that the odds of a total disaster are low, but are you willing to bet all of your belongings on that? If you move without adequate insurance, that’s what you’re doing.
Although it’s understandable that many people are looking for ways to save money during an expensive move, cutting insurance could cost you a lot more in the long run.
Make sure you have the insurance you need.
- Do you have enough coverage to cover all of your belongings? Imagine a worst-case scenario.
- Do you have full replacement value coverage? Many belongings – including furniture and electronics – lose value quickly. This means that the actual cash value of your items might be significantly less than the replacement value. Make sure your policy provides full replacement value coverage.
- Are any items excluded from your policy? Certain items may be excluded, or they may require special listing and care.
The Takeaway for Moving Companies
Moving companies should be paying attention, too. If something goes wrong, even if it’s not your fault, you’re going to be dealing with an understandably upset customer. That could lead to bad reviews or even negative press coverage.
You could also face a lawsuit. The CBS article on Alexsis Martin’s case includes quotes from a lawyer who has sued moving companies in the past.
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