10 Reasons Your Customers Need Moving Insurance

need moving insurance

If you’re not offering your moving customers third-party moving insurance, you’re doing them a disservice. Here are 10 reasons why your customers need moving insurance.

1. Everything they own is at stake.

When people move, nearly everything they own is loaded up into a truck. If disaster strikes, they could lose everything in one fell swoop.

Take a moment to think about all of your belongings. Your furniture, your electronics, your clothes, your kitchenware … When you add it all up, it’s a lot. People regularly buy insurance to cover expensive items, like collision and comprehensive insurance for their cars or travel insurance for their vacations. It makes sense to insure their belongings when they move, too.

2. Moving valuation doesn’t cut it.

According to the FMCSA, released value protection is the most economical option because interstate movers offer it free of charge. However, if anything goes wrong, this valuation may not seem very economical anymore. Valuation reimburses for lost or damaged items based on weight, not value. Using the FMSCA’s own example, a mover might only be reimbursed $15 for a 50-inch television. That’s not nearly enough to buy a replacement.

3. Moving is rough, and many objects are fragile.

No matter how careful your movers are, there’s a chance that something will break. From sensitive electronics to china dinnerware that’s been passed down for generations, many items are very fragile. Even with careful packing and loading, some items might be damaged.

4. Accidents are common.

The NHTSA says more than 6 million police-reported crashes occurred in 2021. Unfortunately, crashes are an everyday occurrence. Even a minor incident could cause damage to the belongings. In fact, it might not even take an actual crash. A close-call event that forces a truck to swerve or stop suddenly could also cause damage to the items in transport.

5. You can’t control the weather.

Your crew packs and loads items carefully, your drivers obey all the rules of the road and practice defensive driving techniques – but what about the weather? If a truck is caught in a rainstorm and there is a hole in the trailer ceiling, the contents could be severely damaged.

6. Theft is a serious problem.

Cargo theft is another concern. CargoNet estimates that thieves stole $223 million in cargo in 2022. The three most targeted states were California, Texas and Florida, but cargo theft can occur anywhere. Thieves took household goods most often, followed by electronics.

7. Moving customers need peace of mind.

It’s a bit of an underestimate to say that moving is stressful. In fact, according to Verywell Mind, it’s one of the most stressful life events the average person will ever experience, right up there with the death of a loved one and divorce.

Moving is stressful even when things go smoothly. Moving insurance can provide peace of mind so your customers have one less thing to worry about.

8. Moving already involves enough unexpected costs.

Moving is expensive, and it often ends up being even more expensive than you anticipated. There are always last-minute costs: little things that you have to buy, extra food costs, and so on. Moving often drains a person’s bank account, so there’s not much leftover for big surprises – like finding out you have to replace half of your furniture because it got damaged in the move. Moving insurance can help people stick to their budgets and avoid unexpected costs.

9. Disputes can get ugly.

Your moving customers are entrusting you with all of their belongings. If something goes wrong – even if it’s not your fault – they’re likely to blame you. They may tell their friends and family not to use your services, which is a big problem for moving companies that depend on word-of-mouth advertising. They may also post negative reviews only, which could hurt your reputation even more.

Moving insurance can help. Although it doesn’t reverse the damage that was done, it does provide a solution, and that tends to satisfy customers.

10. It’s an additional revenue stream.

OK, this is more about why moving companies need to offer moving insurance, but we’ve already established that moving customers need coverage. You might as well be the one to supply it. By offering moving insurance to your customers, you can benefit from an additional revenue stream. This is obviously good for your company, but it can also be good for your customers since additional revenue may keep you from having to raise prices. It’s a win-win.

Your customers need moving insurance. Do you want to see how much you could earn by providing it to them? Use the moving insurance revenue calculator.