How to Calculate the Value of Your Household Goods When Moving

Posted on 01 September, 2015 in Insurance , Moving Home

Moving house is stressful enough without worrying about damage to your property. Top End Removals has its own carrier insurance, which will provide coverage in the case of a traffic collision or a fire, but this does not cover accidental damage.

To give yourself true peace of mind during the moving process, you need to take out an insurance policy that will give you this coverage. But how can you calculate the total value of the goods you need to cover? Below we have outlined a few methods you can use.

Weight of Goods

You can utilise a simple formula to give you an estimate of the total value of the goods. If you do not have an accurate estimate for the weight of your goods, simply take the combined volume (provided to you by the mover) and multiply this estimate by 7 to gain the approximate weight in lbs.

Multiply this approximate weight by 6 to arrive at an estimated value in dollars for your goods.

Cover by Area

Many insurers will provide blanket coverage when you insure your goods for $2500 per square metre. However, you need to be sure you are not underestimating the value of your goods, and therefore leaving yourself exposed in the event of an accident. If you think your household goods may be worth more than this, your estimate must reflect this fact.

Remember that most insurers will only allow for a 20% margin of error, so it is always better to overestimate the coverage you need, rather than to underestimate it.

Market Value of Goods

The most accurate way to determine the total value of your household goods is to go through your house room by room and make a thorough and informed estimate. Where possible, you can use receipts and other records to give you a precise calculation as to the total reimbursement you will need in the event of damage. If you do not have such records to draw upon, you will need to make a careful estimate.

Remember that we have an incredible modern resource that can help to make such guesswork more accurate: the internet! Once you have listed the contents of your home, you can use the internet to ascertain its current market value. Using the internet will allow you to gain an up-to-the-minute understanding of how much coverage you need.

Acquiring sufficient coverage for your household goods in transit will make the moving process that little bit easier and will take a load off your mind. Don’t give yourself unnecessary stress; make sure you get the appropriate cover for your move.


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