Many movers consider "valuation" (a type of transit coverage) an afterthought, but Morgan Manhattan wants you to know the facts before you make a move. You have several protection options - from basic coverage to complete replacement cost coverage. It is in your best interest that you be fully informed before choosing what coverage suits your needs, whether you hire us or someone else.
Some homeowner's insurance policies provide coverage for "household goods in transit" — but most do not. Check with your insurance representative before you make any decisions to see if you have coverage or not. If you have no coverage from your homeowner's policy, by law you can release the goods to us at the Basic Carrier Liability, or you may purchase additional coverage for your move. The Basic Carrier Liability is so low ($0.30 per pound, per item) that it is almost like having no coverage at all. A $1,000 table that weighs 50 lbs. is covered to a limit of $15.00; a 1 lb. wristwatch is covered at $0.30!
You can purchase the additional coverage from us; or perhaps you can purchase it from another company or as a rider to your existing homeowner’s policy. Discuss it with your insurance professional to make sure you make a good, informed decision.
Co-Coverage Warning
Do a good job of determining the actual TOTAL value of the possessions to be moved. Most people underestimate the value of their possessions by 50% or more! From picture frames to clothes to silverware - your possessions add up to much more than you might imagine. Take the proper time to perform a complete valuation. An incomplete or improper valuation may leave you personally liable for large replacement costs due to co-coverage. The insurance company will use what the ratio of the declared coverage is to the actual value of the shipment to determine your part of the liability. For example, if you undervalue the total shipment by 33%, you will only be reimbursed 66% of the value of any item involved in a claim.
When it comes to moving, there's no avoiding risk. While we do everything under our control to make sure your move is as risk-free as possible, accidents can happen. And when they do, it's good to be protected, and it's best to be fully protected. Morgan Manhattan has an impressive "no-claims" ratio. Still, we consider valuation coverage one of the smartest investments you can make – a guarantee that your move will be as protected as possible... from start to finish.
