A big THANKS to all of you from the entire team at RIG! With the summer season behind us and with the holiday season coming up, we greatly appreciate your ongoing moving insurance business and partnership.
Here are a few highlights and trends we noticed in this year’s moving season …
- Shipment value – Contrary to general industry averages, where shipments are shrinking in size, the RIG moving insurance program saw a 7% average increase in the value declared per shipment.
- Inter V. Intrastate – Most of our moving insurance policies cover interstate shipments, at a ratio of 74% interstate to 26% intrastate (including local shipments). This number has been steady through the years.
- Top 5 most popular policy types – (top to bottom based on policy count):
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- Interstate
- Intrastate less than 50 mile
- Small move less than 2,000 lbs.
- Hawaii, Alaska and Puerto Rico and
- Intrastate over 50 miles
- Most claim paid by policy types (most to least by number of claims paid)
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- Interstate
- Intrastate less than 50 miles
- Small move less than 2,000 lbs.
- Alaska, Hawaii, Puerto Rico
- Intrastate over 50 miles
Via our system we also collect information regarding trends in types of claims and the items we see mostly being claimed, and we will share these with you after we collect all information for 2019.
Remember that in addition to our primary Moving Insurance program, we also offer insurance coverage for Self-Storage, Mobile-Storage, Truck Rental, and Small Size Moves. We also offer the Full Value Protection program, which insures you and covers the shippers’ goods via the bill of Lading.
Confused? Interested? Contact us to find out more.