Relocating can be stressful enough without worrying about what happens if something goes wrong during the move. Whether you’re hiring professional movers or doing it yourself, it’s important to understand what protections you have in place. A common question many people ask is: Does moving insurance cover damage? In this article, we’ll break down what “Moving Insurance Coverage” really means, how it works, and what professionals in the moving industry recommend.
Understanding Moving Insurance Coverage
What Is Moving Insurance?
Moving insurance coverage refers to the protection offered for your belongings during a move. It helps cover the cost of repairs or replacement if your items are lost, damaged, or stolen while in transit.
It’s important to note that moving insurance isn’t technically “insurance” in the traditional sense unless it comes from a third-party insurance company. Most moving companies offer valuation, which determines their level of liability if something goes wrong. True insurance policies usually come from licensed insurers.
Types of Coverage Available
1. Released Value Protection
This is the most basic type of coverage and is often included by default when you hire a moving company. It offers minimal protection—typically around 60 cents per pound per item. That means if your 50-pound television gets damaged, you’d receive only $30.
2. Full Value Protection
A step up from the released value option, full value protection requires movers to either repair, replace, or reimburse you for items that are damaged or lost. This form of coverage usually comes at an additional cost, but it offers better peace of mind.
3. Third-Party Insurance
For added protection, some homeowners or renters choose to purchase a separate policy from an insurance company. This is especially recommended for high-value items or long-distance moves. A third-party policy often includes more comprehensive coverage than what movers typically offer.
What Do Professional Movers Recommend?
Experienced movers usually recommend at least full value protection. While this comes with higher premiums, it provides a more realistic safety net if your items are valuable or irreplaceable.
Many professional packers and movers will also encourage you to:
- Take a complete inventory of your items before the move.
- Document any existing damage.
- Clearly label fragile items.
- Ask for proof of the moving company’s liability insurance.
These steps can make the claims process easier in the event something goes wrong.
The Role of Homeowners and Renters Insurance
Can My Existing Policy Help?
Some homeowners moving insurance coverage and renters insurance policies may provide limited protection during a move, especially if the damage occurs due to a covered peril (like a fire). However, this is not always guaranteed.
If you’re not sure whether your policy includes this, contact your insurance agent and ask specifically about moving coverage. Keep in mind that some homeowners policies may not cover damage or theft once items are in the truck or a storage unit.
Considerations:
- Deductibles may apply before any payout is made.
- Coverage limits could leave high-value items underinsured.
- Condo insurance or home insurance may have separate clauses.
What About Auto Insurance and the Moving Truck?
If you rent a truck for the move, check if your auto insurance covers it. Many personal auto policies don’t extend coverage to rental trucks, especially larger commercial-style vehicles.
You may be offered a collision damage waiver by the rental company. This isn’t technically insurance, but it does waive your financial responsibility if the truck is damaged. Evaluate the terms carefully before signing.
Storing Belongings in Self-Storage
If your move involves putting items in a self-storage unit temporarily, ask whether your moving insurance coverage covers items during that time. Some homeowners policies extend partial coverage to stored belongings, but there may be restrictions based on time or cause of damage.
For more secure coverage, you can:
- Add a rider to your current policy.
- Purchase third-party insurance through the storage provider.
- Check if the facility has its own insurer.
Real-Life Examples
Case Study: Damaged Furniture During a Cross-Country Move
After moving from California to Florida, one couple found several pieces of their antique furniture damaged. They had only opted for released value protection. Since the items were heavy but high in value, their compensation came out to just a few hundred dollars, which didn’t cover even one chair. A better move would have been to purchase full value protection or a third-party insurance policy.
Case Study: Theft During Overnight Stop
Another family experienced theft during an overnight stop while their shipment was on the moving truck. Since they had a comprehensive third-party insurance policy, they were able to recover the full replacement value of the stolen items. The process took a few weeks and involved a claim with their insurer, but the payout helped them replace what they lost.
Moving can be unpredictable, but having the right moving insurance coverage can make a big difference. Whether you’re concerned about damage, loss, or theft, there are several options to consider. Professional packers and movers usually recommend going beyond the basic valuation and exploring either full value protection or third-party insurance.
Don’t assume your homeowners policy or renters insurance automatically covers you—double-check with your insurance agent, understand your deductibles, and be aware of your policy’s limits. In the end, the goal is simple: make sure your belongings are protected so you can focus on settling into your new home.
