How to Know if You Should Insure Your Company's Move

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When you are moving your company to a new location, there is always the fear in the back of your mind that you may need insurance. However, most small businesses do not have money to waste on unneeded expenses. Below is a way that you can quantify if you need insurance to protect you during your company’s move.
How to Know if You Should Insure Your Company's Move

1. Take Stock of the Equipment That You Will Actually Be Moving

If you have a great deal of hardware that would cripple your company if it broke, then you may want to consider insurance. As a matter of fact, if you have a single piece of hardware that is critical to your company, you may actually want to consider moving it yourself. If it requires a professional mover, you may be able to take out insurance on just that piece of equipment in order to reduce your costs.

2. Do Your Research on Similar Moves

You are certainly not the first business of your type who has had to make a move. Perform the necessary research to see how many of those moves were made with or without insurance. This will help to quantify your probability of needing insurance, as you can simply plug in numbers once you have hard data.

3. Note the Record of the Moving Company That You Will Be Using

Some moving companies like Craters and Freighters have insurance packages of their own. Some guarantee their work. Others do not. Take a good, hard look at the type of insurance package that you will receive from particular companies. This should be one of the main contentions in deciding which moving company you hire. You may want to look at moving companies with a specialization in your industry.

4. Take Stock of Your Own Risk Profile

Your peace of mind is just as important as the gear you will be moving. If you are naturally a conservative person, you may want to give yourself a break and simply purchase insurance just so you can sleep at night.
If you adhere to the tips above, you will have a much better, more quantitative idea of whether you need to purchase insurance for your company’s move. There is always a way to quantify anything in the business world, including your need for insurance. Make sure that you perform your due diligence before you give in to fear or overestimate your capacity to perform all business functions in-house.

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