Moving Insurance: Everything You Need to Know

Why does someone need moving insurance?moving insurance

  • Moving insurance is needed to protect the transported shipment or specific items in case of any loss, whether physical damage or shortage.
  • Moving insurance is the proper type of coverage in case the service provider (the mobile storage company, moving company, etc.), does not provide any type of coverage, or when the coverage they provide is not adequate.
  • Also, most insurance homeowners and renters insurance policies do not provide coverage for the goods during the moving process, or their coverage allowance (value insured), is very limited and that’s when moving insurance can help.

Does homeowners insurance provide any coverage?

  • Some insurance policies do, but most don’t. Also, in the case of the policies which do provide the coverage, the terms of the policy may limit the allowed insured value, or the type of loss they cover. Example: a policy may cover damages to the goods in case of a truck accident, but not in case of loading and unloading of the goods.

Are there different types of moving insurance?

  • Yes, and it depends on the type of moving service being used. In the case of a full service move with a moving company handling all aspects of the move, we offer a Full Service All Risk Coverage, which is our most comprehensive policy. In the case of items being packed, loaded and unloaded by the customer, the owner of the goods him or herself, into the mobile storage containers, we offer a Named Perils policy which covers against specific perils (causes of loss), such as vehicle accident, rollover accident, fire, lighting, smoke, theft, burglary, etc. We also offer a Total Loss Only policy, which covers the goods only in the case of 100% loss or damage to the shipment. This is usually purchased by customers interested in insuring a single or a few items only and are not concerned with dents and scratches but only with a complete and total loss.

What should a consumer look for when buying moving insurance?

  • When buying moving insurance, the consumer should determine what type of loss would they wish to have the goods protected against: small scratches, major damage, disappearance/shortage of items, etc. They should determine the type of moving service they are using, whether a full service moving, or a mobile storage type, or perhaps a rented truck which they would drive on their own. Also, they should determine whether they wish to insure the entire shipment, or only some specific items and prepare a list of the items and its value. We do offer an option to list and insure individual only individual items.

How can someone figure out how much coverage they need?

  • To determine the value of the coverage, the customer needs first to decide whether he/she wishes to insure a single item, a few, or their entire shipment. An inventory needs to be created listing the value of all items, or specific and high value items only, depending on the type of policy. When either of these steps are complete the customer will have a clearer picture and understanding of the value of the goods and the coverage they need to insure it.

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