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| Planning and Managing Your Move |
— Full-Service—All Risk
This type of coverage applies to goods transported or stored by a full service moving company, and there are two options to consider.
— Full-Service—Named Perils
This type of coverage applies to goods transported or stored by a full-service moving company. Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available for both the transit period as well as the storage period. Causes of loss for the transit and storage periods can be reviewed in the Terms and Conditions for this insurance type. There are two options within this choice to consider.
— Other Coverage Options
Mobile Storage is where you load and a moving company drives. Mobile Storage Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available for both the transit period as well as the storage period. Causes of loss for the transit and storage periods can be reviewed in the Terms and Conditions for this insurance type.
Truck Rental is where you load and you drive. Truck Rental Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available only for the transit period of the move. Coverage is provided only for transported goods and not for damage or loss to the vehicle or its driver and passengers. Causes of loss can be reviewed in the Terms and Conditions for this insurance type.
Total Loss Only (TLO) is for all move types and is designed to protect your goods only against a catastrophe. This includes fire, flood, truck accident or stolen truck that result in total damage or loss of the shipment. TLO is defined as an insurance type that offers coverage compensating for damages or losses only in case of 100-percent damage or loss to the shipment. This insurance type will not compensate for any individual items damaged or lost
Moving Expenses
Tax deductions might apply to a move, but it is best to understand the law before moving to keep the appropriate records and to comply with any necessary provisions. Keep in mind that a move must be at least 50 miles from a current home and involve changing job locations for expenses to be deductible.
— Deductible Moving Expenses
You can deduct the reasonable expenses of moving your household goods and personal effects and of traveling from your old home to your new home. Records to keep include the following:
— Who Can Deduct Moving Expenses
According to the Internal Revenue Service (IRS), If you move to a new home because of a new principal workplace, you may be able to deduct your moving expenses whether you are self-employed or an employee. To be eligible, you must meet both the distance test and time test. Call the IRS at (800) 829-1040 or visit www.irs.gov to request a free booklet explaining exactly what can and cannot be deducted.
This type of coverage applies to goods transported or stored by a full service moving company, and there are two options to consider.
- Full-Replacement Value—Valued Inventory is the most comprehensive insurance option available and provides the best coverage. This insurance is offered for interstate (from state to state), intrastate (within the same state) and international shipments. With this option, you must list and declare a replacement value on all of the items that you wish to insure. Items may be categorized as a group, such as “living room set, seven pieces.”
- Full-Replacement Value—Lump Sum insurance is offered only for interstate shipments and international shipments. The total coverage amount is determined when you place a lump-sum value on all of your goods to be insured, considering the declared value of the shipment equals no less than $6 times the weight of the shipment. Any items individually valued at $500 or more need to be listed separately to be covered at their specific replacement value.
— Full-Service—Named Perils
This type of coverage applies to goods transported or stored by a full-service moving company. Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available for both the transit period as well as the storage period. Causes of loss for the transit and storage periods can be reviewed in the Terms and Conditions for this insurance type. There are two options within this choice to consider.
- Named Perils—Selected Inventory provides coverage based on an itemized and selected inventory prepared by the insured prior to the shipment date. For your benefit and proper coverage, you must list and declare a replacement value on all of the items that you wish to insure. This option is the most comprehensive and is the best coverage available; it does not reduce the settlement amount for depreciation or a coinsurance penalty. This completed inventory also can act as a base for your homeowners or renters insurance policy at the new location.
- Named Perils—Total Value offers coverage if you are interested in insuring your entire shipment. The total coverage amount is determined when you place a total value on all of your goods to be insured, considering the declared value of the shipment. Any items individually valued at $500 or more need to be listed separately to be covered at their specific replacement value. To avoid being underinsured, it is required you declare the replacement value of your entire shipment.
— Other Coverage Options
Mobile Storage is where you load and a moving company drives. Mobile Storage Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available for both the transit period as well as the storage period. Causes of loss for the transit and storage periods can be reviewed in the Terms and Conditions for this insurance type.
Truck Rental is where you load and you drive. Truck Rental Named Perils insurance covers only losses that result from causes explicitly listed in the Terms and Conditions. Coverage is available only for the transit period of the move. Coverage is provided only for transported goods and not for damage or loss to the vehicle or its driver and passengers. Causes of loss can be reviewed in the Terms and Conditions for this insurance type.
Total Loss Only (TLO) is for all move types and is designed to protect your goods only against a catastrophe. This includes fire, flood, truck accident or stolen truck that result in total damage or loss of the shipment. TLO is defined as an insurance type that offers coverage compensating for damages or losses only in case of 100-percent damage or loss to the shipment. This insurance type will not compensate for any individual items damaged or lost
Moving Expenses
Tax deductions might apply to a move, but it is best to understand the law before moving to keep the appropriate records and to comply with any necessary provisions. Keep in mind that a move must be at least 50 miles from a current home and involve changing job locations for expenses to be deductible.
— Deductible Moving Expenses
You can deduct the reasonable expenses of moving your household goods and personal effects and of traveling from your old home to your new home. Records to keep include the following:
- Travel and lodging expenses incurred during the move
- Expenses of moving household goods and personal items (sometimes storage expenses)
- Costs incurred when looking for a new home (e.g., home-scouting trips, lodging)
- Costs of temporary living arrangements in the new location
- Costs of disposing of a former home and acquiring a new one
— Who Can Deduct Moving Expenses
According to the Internal Revenue Service (IRS), If you move to a new home because of a new principal workplace, you may be able to deduct your moving expenses whether you are self-employed or an employee. To be eligible, you must meet both the distance test and time test. Call the IRS at (800) 829-1040 or visit www.irs.gov to request a free booklet explaining exactly what can and cannot be deducted.
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