Move Buddies understands that the minimum coverage may not suffice for your move. That is why Move Buddies has partnered with Baker Insurance for a higher level of coverage. Insurance and valuation are items you should be clear on before the move begins.

To get a higher coverage level than the minimum coverage included with your move, please use the following information below to get a higher level of coverage 48 hours before your move.

Baker Insurance
Move Buddies Client ID #19743
1-800-356-0099

Click here to download Bakers Insurance Brochure

Q. What is the difference between valuation and insurance?

A.
Valuation = Legal Liability
Insurance = Legal Liability + Acts of God
A bill of lading typically provides a “released” or “declared” valuation option. Customers need to understand that if a valuation option is selected, coverage applies only in the event of negligence on the part of the moving company (otherwise known as Legal Liability). Negligence occurs when a mover’s actions or inaction breach a legal duty of care. Alternatively, customers can be offered “first party property insurance” or a “true insurance” option. “True insurance” coverage is provided by an insurance policy issued directly to the customer by an insurance company, (i.e. trip transit policies). In other instances, movers insured through specialty providers, can offer their customers insurance through their own corporate policies under a “Master Certificate Program.” Insurance options are considered broader than valuation coverage because they include coverage for certain “Acts of God” (i.e. fire, lighting, windstorm, etc.). It is important to note that valuation and insurance are separate and distinct options, which should never be provided in conjunction with each other.

As moving companies compete for business, communicating coverage options can be a challenge. Historically, the terms valuation and insurance have been intermingled. Misinformed movers or those trying to create an unfair advantage, describe their valuation options as insurance, which is incorrect. Unless educated on the difference between valuation and insurance, customers may expect a level of protection that does not exist.

Conclusion:
Clearly communicating the difference between valuation and insurance will reduce the number of disgruntled customers. With customer satisfaction vital to the success of a moving company, this is a key distinction for your representatives to understand. By effectively educating customers on the coverage options available, you can increase customer satisfaction and eliminate potential claim headaches.

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