Having a proper moving insurance plan is critical to a successful relocation process. Having financial protection for unforeseen circumstances and mishaps during a move will go a long way in protecting your finances as well as your assets. According to Architectural Digest, total migration inside the United States reached 8.7% in 2022. If you’re amongst those relocating your business operations in the U.S., then keep reading to learn about a few types of moving insurance plans to consider.

Basic Carrier Liability Insurance

Basic carrier liability insurance is often included by commercial moving companies at no extra cost. This type of insurance typically covers a specific dollar amount per pound per item, with its value being determined by federal regulations. While this plan provides a baseline level of protection, it may not cover the full value of your belongings in case of damage or loss. Record management services should be enlisted to document the condition of your items before the move to ensure you have a valid claim in case of damage. This option is beneficial for those looking to save on costs and have a straightforward move. It provides a basic level of protection, ensuring you have some compensation in case of damage.

Released Value Protection

Released value protection is another insurance option provided available to those hiring professional commercial movers, usually at a minimal cost compared to other plans. This offers compensation based on the weight of the item rather than its actual value. While it’s cost-effective, it might not cover the full value of high-value or fragile items. With that being said, its cost-effective nature makes it suitable for small businesses with minimal belongings or those looking to save on insurance expenses while having a base level of coverage.

Full Value Protection

Lastly, a full value protection plan is a more comprehensive coverage option that covers the costs of repairing or replacing damaged or lost items during the move. This option is ideal for various businesses, whether they specialize in technological equipment or the sale of rare and valuable goods. Though more expensive, it ensures that business operations are not disrupted by the expenses of replacing or repairing damaged goods.

Looking for expert moving professionals in NYC? Don’t hesitate to get a free quote from Arrow Transfer & Storage today. We’re happy to help you with our services, from record management services to furniture liquidation. We look forward to working with you!