moving insurance coverage


What Is Moving Insurance?

One of the greatest concerns homeowners have when moving to a new home is the safety and security of their possessions during the trip. Even a simple move down the street with help from a moving company can result in damaged, lost, or stolen goods. When it does, what course of action does the moving party have?

This is where moving insurance coverage comes into play. Insurance for moving (a.k.a. “valuation”) is how you can account for lost or damaged items after hiring a moving company to help pack and transport your belongings. There are several considerations to make when deciding whether you need moving company insurance coverage and how to choose the most appropriate option for your situation.


Do I Need Moving Insurance?

An important factor with moving insurance coverage is whether you even need it in the first place. Homeowners’ or renters’ insurance often covers belongings when moving, although it may only do so if the move remains local and under the same policy. If you’re moving out of state, it’s critical to read over your insurance policy carefully to prevent surprises.

Moving insurance is sometimes the only way to guarantee you’ll receive compensation for any mishaps while moving to your new home. Here are a few considerations to make when deciding whether you need moving insurance:

  • How much your items are worth, together and individually
  • Whether you can easily replace damaged property
  • The chance of inclement weather like hurricanes, tornadoes, or snowstorms
  • The areas you’ll be driving through and staying at for multi-day trips
  • Whether the moving truck breaks down or is involved in an accident
  • If any of your possessions are stolen during the trip


Types of Moving Insurance to Consider When Hiring Movers

How does moving insurance work? That depends on the moving company you go with and which of its options you choose. If you hire movers and decide to get insurance, it’s important to know what coverage they offer along with their moving services in case of an accident during transportation.


Basic Moving Insurance

Also known as released value protection, this coverage is available at no added cost and provides minimal coverage for your belongings at around 60 cents per pound, regardless of value. So, if you have a five-pound computer chair that costs $300 and it gets lost or damaged in transit, basic moving insurance will only compensate you up to $3. Moving companies must offer released value protection because of a federal law requiring valuation options, but always be sure to ask before committing to a move.


Full-Value Protection

Per its name, full-value protection moving insurance provides complete coverage during transportation. As you might expect, this is the most expensive insurance option, but it provides total peace of mind. If any of your belongings become damaged, lost, or stolen, the mover can repair, replace, or pay you a cash settlement to cover the value. You’ll need to pay one to two percent of the item’s cost upfront to get full-value protection, with moving companies and states often having minimum value requirements.


Third-Party Insurance

Some movers offer additional insurance through a third party. This works similarly to released value protection but adds coverage at a cost. How much coverage you get depends on the moving company’s insurance requirements, so comparing different movers is in your best interest.


Moving Insurance Coverage

Is moving insurance worth it? That depends on your situation. Checking your insurance coverage is vital when moving. This means learning what your homeowners’ or renters’ insurance policy covers and whether you should seek additional insurance through a mover or third party.

If you choose moving insurance, be aware of the costs so you can make an informed decision. If you must transport several highly valuable items, getting moving insurance coverage is probably in your best interest. This is especially true when looking at full-value protection, which often requires additional costs as a deductible to cover higher-value items.


What Isn’t Covered by a Moving Company?

Insurance isn’t a catch-all when you select a company and policy to cover your property. Sometimes, insurance won’t compensate you for losses or aid you when filing a claim. Your mover may have limited liability if any of the following happen during a move:

  • Failing to inform the movers about perishables and hazardous materials
  • Packing your own items into boxes to reduce costs
  • Not communicating the high value of certain items in writing
  • Encountering civil unrest like riots and strikes
  • Damage from natural disasters like earthquakes, floods, and tornadoes
  • Claims filed outside the company’s policy period


Choose the Best Moving Insurance for Your Needs – Jordan River Moving & Storage

Jordan River Moving & Storage offers the best moving insurance coverage for home and business owners to ensure a seamless experience from start to finish. We understand the risk of transporting your items and go to great lengths to protect them with the utmost professionalism and care. We also know accidents can happen when you least expect them, so we come prepared with various policies to give you peace of mind while moving to your new home.

Reach out to us today through our Contact Us page today to learn more about the coverage and valuation we provide to residents in multiple locations between Washington, Vancouver, and South Carolina. By putting your trust in us, you can focus on what matters most: getting into your new home safely.