Wondering about insurance coverage for your belongings when hiring a moving company? Yes, moving companies typically offer moving insurance to protect your possessions during the move, including those packed up in removal boxes. It's a smart way to ensure peace of mind. You can choose between different levels of coverage, so be sure to discuss your specific needs with the moving company. While accidents are rare, having insurance in place can be a valuable safety net, giving you confidence that your items are protected throughout the relocation process.
It's important to know what kind of insurance coverage you have for your belongings. Technically, moving companies can't sell insurance, but they are required by federal law to offer valuation options. You can also take out insurance from third-party providers to cover any items that moving companies don't cover, such as high-value items. Most insurance policies for renters and homeowners don't usually cover the cost of possessions damaged or lost due to a move, so it might be worth looking into moving insurance.
Homeowners policies may not cover your property during a move. Review your policy or talk to your agent to see if your property is insured during transportation or storage. Most reputable moving companies also offer these coverage options for local and intrastate moves. However, if you make a local move and keep the policy you had in your previous home, the policy may cover your belongings while they are in transit.
For example, if your 200-pound sofa is irreparably damaged during a move, the claims department of the moving company will replace it with the same sofa (or a similar one) or pay you based on the item's current market value. If you're moving out of your parents' house and you're under their policy, their insurance could cover part of your move. You can read about both types of liability in the brochure Your Rights and Responsibilities When You Move, which is required by federal regulations for moves from one state to another. Moving companies won't charge you for the protection of the value released, but you still have to apply for coverage and contractually accept it.
If moving insurance (also known as valuation) isn't really insurance, you might wonder if you should take out additional insurance to protect your belongings during the move. Most moving companies have their own full value protection policy and most have some type of minimum value that you should claim for your goods. While both cover the items you carry during a move, keep in mind that moving coverage and moving insurance are technically two different things. Check with your state, county, or local consumer affairs agency or state moving association if you are making a local move.
Before the move takes place, make sure you agree with your moving company as to whether these items are covered. Most basic coverages are free at your moving company, but you can opt for more comprehensive coverage if you have a lot of high-value items or have a long interstate (or international) move ahead of you.
