Buying a luxury home is expensive, so are the costs associated with moving into the home.
Many wealthy homeowners are turning to specialty “white glove” movers to handle valuables such as paintings, antiques and other high-value items, according to the Wall Street Journal.
These added services cost significantly more than the traditional movers because they have to wrap delicate items, build custom crates and sometimes provide climate control.
There’s another expense that luxury buyers need to keep in mind when moving: insurance.
Most traditional moving companies provide insurance by the weight or volume of goods transported, but do not cover full replacement or market value of individual items, Matt Davis, a collector specialist with Chubb Personal Risk Services told the Wall Street Journal.
Homeowners’ insurance policies may extend coverage to include moves, but each policy is different.
Before you move, check to see if any special provisions are in place and what types of damage or loss are covered.
“On the high end, planning is everything,” Nir Shuminer, owner of New York-based luxury Scanio Movers, told the Wall Street Journal.