TodayInsurance.net

Essential to moving is Insurance. This makes the move worry and trouble free. Moving is “risky” business, damage to goods can occur in transit, during loading or unloading, or in storage. Movers can dent, drop, or break objects. Furthermore, unforeseen disasters like floods, earthquakes, and hurricanes can also cause damage.

There are different kinds of Insurance that pertain to moving:

- Released Value Insurance, the most basic coverage provided by moving companies. Estimated by weight it covers US$0.60 per pound of objects.

- Declared Value Insurance offers coverage of US $ 1.25 per pound, coverage is on the total weight of your movables. If any objects are damaged, the insurance is based on the depreciated value of the object to the maximum value of items shipped.

- Lump Sum Value, this insures based on the actual value of goods shipped and not by weight. The specific value of items must be declared on the bill of landing.

- Full Value Protection, covers a (more...)

Insurance companies are just like any other business in that they are out to make a profit. In any business, a company must correctly price its products in order to make a profit and many different methods are used to come up with a fair price.

The process of underwriting is simply the insurance company s way of “evaluating” a risk so that it can set a reasonable price and make a profit from selling a policy. The days of using an applicant s driving record, accident history, age and geographic location as the only underwriting tools are gone. They have been replaced by extremely complicated tiered rating plans that base your rate on a variety of factors that make up your insurance score. This is a complicated algorithm that takes into account many factors but typically your credit rating closely parallels your insurance score. This means that if you have a good credit score, you are very likely to have good insurance score and therefore a lower insurance rate. The theory is that groups (more...)