Insuring a piano (or other instrument) requires that certain information be submitted to the insurance company or your mover, before your instrument is packed.
Providing the above information protects you from under or over insuring the piano.
Problems with Over Insuring
Often when a shipper has had a piano in his family, he will want to insure the item based on sentimental value. Over-insuring the value of the piano, doe not guarantee that he will receive the total amount declared.
If an instrument can be replaced for a lower amount, then that is the maximum the insurance company would pay.
Problems with Under-Insuring
A shipper may "guess" the value of his piano; this value may be much lower than the item's actual reaplcement cost. If a shipper under-insures his item, and it costs more to replace than the declard amount, the shipper would only receive the actual replacement cost and no necessarily the declared value.
Having an appraisal or some other current confirmation of value avoids problems with claims once the goods deliver. It makes the claim process much smoother to have all the proper documentation on filel before the move.