Getting the right insurance coverage when moving artwork

Artwork is precious regardless of how much money you paid for it. And the experience of its transportation is stressful by definition, especially if you haven’t hired a high end moving company. Although every mover’s ultimate goal is to move your valuables safely, mistakes can happen to anybody. That is why you should consider obtaining moving insurance. Here are some of our tips on getting the right insurance coverage when moving artwork, whether you are moving locally or long distance. However, before you opt for one, you should understand the types of moving insurance and their features. Pro Movers Miami is here to help you familiarize yourself with the term and decide what kind of moving insurance you will need for your move, especially if you are moving your art gallery. Avoid the risks of damaging your valuable works of art and choose the right insurance.

Moving artwork is a challenging endeavor

Moving artwork, such as pictures, antiques, busts, or other valuables is, indeed, a challenging and tricky venture. The moving process is usually longer than one would expect. Fine art moves consist of many demanding steps. The process does not only include transportation. What’s more, proper packing is the core of safe transport. But, before packing, you should carefully prepare your valuables. And the most important step is getting the right insurance coverage when moving artwork. However, if you want to get proper moving insurance, you should hire fine art movers. Don’t pack your artwork by yourself since DIY packing isn’t covered by insurance.

The right insurance coverage when moving artwork will ensure the safety of your belongings

As already stated, it’s necessary to obtain the right insurance in case of moving artwork. It will save you a lot of money and time, and most importantly, it will save you a lot of nerves. If you get the moving insurance, you’ll get fully covered. Your belongings will be transported safely with the minimum chance of getting damaged. Most importantly, your fine art move will be hassle-free.

Insurance Coverage VS. Valuation Coverage

Before you get insurance coverage, you should first understand its main traits. Many people confuse the term “insurance coverage” with the term “valuation coverage.” So, in the beginning, it is crucial to distinguish between these two services. Luckily, you don’t have to research. Pro Movers Miami will provide you with a brief explanation. Insurance represents a contract that guarantees you that compensation for possible damage will be paid. There are three types of moving insurance, and you should think of at least one of them when it comes to hiring art movers. On the other hand, valuation stands for the responsibility that a moving company will assume in case of unwanted happenings. Each level of responsibility determines how much your movers will reimburse you if your valuables get damaged during the move. It’s essential to remember that valuation coverage isn’t moving insurance. Following are types, of valuation coverage.

Types of valuation coverage

Movers offer different liability options. And, these are released value protection and full value protection. Here’s the explanation for the two:

• Released Value Protection: The moving cost includes this type of valuation. So, there’s no additional charge.  The released-value form of artwork moving insurance enables you to save a lot of money. However, only minimal protection is provided, which, you’ll agree, is not enough when moving artwork.
• Full Value Protection: As its name suggests, this kind of liability offers the customers full protection in case of damage or loss. However, it’s not moving insurance. Therefore, full value protection is only a plan under which your mover is responsible for the reimbursement. The cost is deductible.

The main difference between valuation coverage and insurance coverage is that valuation coverage is limited. This means it doesn’t provide full coverage. What’s more, if a mover loses or damages your artwork, they will only compensate the cost based on the cure marker value. On the other hand, additional, third-party insurance offers full coverage. However, it depends on the value of your artwork. Sometimes, full value coverage is enough for a safe move.

Ways of full-value coverage

What is particularly important with full-value coverage is that in the case of damaging your artwork, there are three options for the moving agency:

• Reconstruct Your Belongings: If an item is damaged, the moving company will make efforts to restore or repair it to its original condition. This option might be suitable for items like furniture or artwork, where restoration or repair can bring the item back to its pre-move state.
• Replace It with a Look-Alike Object: If reconstruction is not possible, the moving company might offer to replace the damaged or lost item with a similar or “look-alike” object. This option ensures you are provided with something functional or visually similar, though it may not be identical in value, brand, or condition.
• Pay the Market Value of the Damaged or Lost Item: In this case, the moving company will compensate you based on the current market value of the item. This value is typically determined through an assessment of the item’s worth at the time of loss or damage, factoring in depreciation. The payout may not cover the original purchase price if the item has decreased in value over time.

Each of these options ensures that you are financially protected in case of loss or damage, but it is important to understand the specific terms of your full-value coverage policy. Depending on the company, some might limit the types of items covered or have exclusions, so it’s vital to review the policy thoroughly before the move.

What should the right insurance coverage when moving artwork include

When moving artwork, companies should tailor the right insurance coverage to protect the specific value of each piece. This coverage should not only include protection during transit but also while the artwork is in storage or being handled at any point throughout the moving process. Artwork is often fragile and irreplaceable, so it’s important to ensure that the insurance covers potential damages, theft, or loss, offering full-value protection. Specialized coverage should consider the unique nature of artwork, including appraised values, and address any potential risks such as humidity, temperature changes, or improper handling. However, the best solution is to hire a white glove moving company to provide you with the necessary services and appropriate moving insurance.

What you should never do if you want to get the right insurance coverage

In order to ensure your artwork moving coverage, avoid packing your possessions on your own before the movers come. In case of unpredictable and unwanted events, they will not be responsible for the breakage of your valuables. This also refers to the harmful effects of natural disasters or accidents.

Additionally, you should never underestimate the importance of properly documenting your items. Create a detailed inventory of your possessions, including photographs, descriptions, and estimated values. This record can be invaluable when filing an insurance claim. Another common mistake is opting for minimal or generic coverage instead of a specialized policy that suits your needs. Artworks and valuables often require tailored insurance to account for their unique value and the specific risks they face during transportation.

Lastly, do not neglect to read the fine print of your insurance policy. Be sure to understand the terms, conditions, and exclusions, including whether the coverage extends to external factors like theft, fire, or water damage. However, to avoid mistakes, hire the best moving companies in Florida – hire Pro Movers Miami.

When to use third-party insurance

Use third-party insurance when the moving company’s standard coverage doesn’t provide sufficient protection or when you need extra assurance for valuable or fragile items. Opt for third-party insurance when moving high-value goods, such as fine art, antiques, or collectibles, which may need specialized coverage beyond the mover’s offerings. This insurance is also beneficial for international moves, as domestic moving companies often offer limited coverage for overseas shipments. Third-party policies allow you to get more customized protection, including full-value coverage and compensation based on appraised values, ensuring that your belongings remain adequately safeguarded throughout the move.

Hire professional movers and get the insurance you deserve

A successful move is not possible if you don’t have professional help around. Especially when moving fine art. However,  cover your valuables by insurance. But, getting third-party insurance may be costly. That is why you should refer to professional movers and get the right insurance coverage when moving artwork. So, contact us today to get a moving estimate and choose insurance that suits you best. We offer different types of coverage. They include full service and full replacement value (valued inventory or lump sum). But that’s not all. We also offer other types of moving insurance, such as shipping. So, don’t hesitate and give us a call. We’ll be glad to meet your requirements. Ensure a safe fine art move. Enjoy the move.