How important is it to purchase moving insurance? Will it save me money, or is just a waste?

It is important to make sure that your belongings arrive in one piece and without damage, even if you are moving just a few blocks away from your old location.

If you think that the moving company will be responsible for any damage that happens to your things while moving, you're wrong. The moving company will protect workers from their liability, and you might have to end up paying for the replacement of your damaged possessions.

This issue can be dealt by insuring your belongings during transit. Firstly, you should check if you're home insurance policy will cover your good during a move. Before making any purchases or final conclusions, call your insurance agent and find out whether or not your policy will provide coverage for this.

If your homeowners insurance policy doesn't cover your belongings during transit, purchasing "moving insurance' is a smart choice. This policy will provide peace of mind, and if anything were to happen, it might save you thousands of dollars in replacement costs.

However, when purchasing a moving policy, make sure that you know what your policy will cover. Purchasing too much or too little coverage is the number one mistake consumers make when purchasing policies. This mistake might end up making the policy either useless or hideously overpriced.

How can you get this coverage? There is a number of different ways that you can purchase this coverage. You can either purchase it from your homeowners insurance company, from the movers or from the move-it-yourself company.

This policy wont be difficult to find, and will be fast and easy to purchase, as long as you know what you want. Make sure that your purchase is a smart one with an idea about what you want it to cover. Remember this insurance terminology when considering moving insurance:

• Lump sum value: You can get additional coverage by declaring a specific dollar value if your shipment is greater than $1.25 per pound.

• Declared value: This is the value of your shipment that is based on the total weight of the shipment multiplied by $1.25 per pound.

• Full value protection: With this coverage, any items that are damaged, lost, or destroyed will be either repaired, replaced with a similar item or will be   replaced with a cash settlement.