The possessions in your home are valuable to you and your family. Some might be gifts, while others could be mementos from special events. Regardless of the circumstance, when you move, one of your top priorities is the safety of your belongings.

While choosing a moving company that will care for your property is the first step in assuring safety, selecting the right moving insurance will also go a long way.

Moving insurance covers lost or damaged items up to a certain value; this will be determined by the type of moving insurance you choose. There are a few different types of moving insurance that will affect how much you will receive should anything be damaged during your move.

Declared Value

Declared value moving insurance is based on the weight of your property. The value differs depending on the type of move. When moving in-state you can expect to be covered at $30 per 100 pounds. Meanwhile, when moving out of state you will be covered at $60 per 100 pounds. However, with a higher premium for your move, you can receive higher amounts of coverage per 100 pounds.

Declared value is a base moving insurance which is often included in your upfront moving cost.

Assessed Value/Lump Sum Value

Assessed value or lump sum value moving insurance covers the total dollar amount of the worth of your property. This is based on the depreciated value of the goods. Because depreciation is taken into account, if any of your belongings are damaged under this insurance, you are less likely to receive the full value of your possessions.

You will have to pay extra for this insurance, but more will be covered than declared value moving insurance.

Full Value Protection

Full value protection moving insurance is the highest level of insurance available, but it also comes with the highest fee.

With full value protection, you will receive full reimbursement on the current value of any possessions that are damaged or lost. This level of protection is good for your most expensive items, such as televisions or computers.

When preparing for a move, always go through your insurance options so you can protect yourself and your valuable possessions. Ask your moving company the details of each type of coverage to be sure that you are making the best decision for your property. For the best protection of your belongings, make sure to hire a reliable moving company with a good reputation.