Moving home is a stressful enough business already, and if all your possessions don't arrive at your new property intact, it's only going to make things worse. Even with the most careful movers in the world, accidents still happen, so it's important to make sure all your belongings are properly protected.
The first step is to appreciate the difference between insurance and valuation. They are not the same thing. Valuation is bought from you moving firm, and is the sum the organization will accept for the value of your goods if they are damaged or lost while they have them. It's limited to the company's own coverage, which can be very low. Insurance usually covers your stuff for longer, for example if your things are going into storage, comes from an independent third party, provides a full replacement value rather than depreciated value if you make a claim, and covers 'Acts of God', such as floods and storms.
Most homeowners' insurance policies cover your goods when you are moving, so it's worth checking. Get written confirmation of cover. Equally, you may find that your belongings are protected while the movers are packing, but not once they've left your home. Your insurance agent may offer either a new policy or a separate 'rider' on an existing one. Make any claim as soon as possible, and at least within nine months of delivery of your stuff. Your mover has to acknowledge your claim within a month, and deny or make an offer within 120 days.
You may find valuation coverage (often wrongly referred to as moving insurance) offers adequate protection for your possessions. There are various types of valuation available, all offering different levels of cover. Of course, the kind of valuation you buy depends on how much you can spend, and how important it is to you to be able to replace anything damaged in your move. As with anything else, you get what you pay for.
The different kinds of valuation on offer include declared value, which is based on how much the belongings being moved weigh. You will get greater coverage if your move takes you across a state line. You should find this coverage is included as part of your moving package. However, it may not cover everything if larger and more expensive items are damaged. If you wish, though, you can pay more and increase the level of protection.
Assessed or lump sum value is based on the total value of the goods, rather than their weight. But only full value protection is likely to provide a level of cover which would pay for full replacement of any lost or damaged items. Understandably, this is the most expensive kind of valuation. Always check with any potential moving company on what coverage they provide, and compare the maximum value they offer with your own assessment of the worth of your goods. Remember that even the full amount listed is not absolutely guaranteed. Like anything else, it is subject to government regulations, taxes and laws.
The cover you decide to purchase comes down ultimately, to personal choice, what you can afford, how expensive your belongings are and your attitude to risk. The main thing to realize is what it could cost you if you don't have adequate protection and the worst happens. Don't assume it won't.