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What is Moving Insurance? A Quick Guide

Posted in: I'm Moving, Moving Checklists & Planning

“Accidents Happen.”

Since childhood this phrase has been ingrained in us. This carefree, laid-back, don’t-worry-it’s-only-spilled-milk attitude is great for many life situations. But when you’re moving all of the contents of your entire life… you definitely don’t want to hear, “Sorry, accidents happen.”

If you want peace of mind during your move, then you may want to look into moving insurance. Here are some facts about this part of the moving process…

What-is-moving-insurance?

What is Moving Insurance?

There are lots of things that can go wrong on moving day. Boxes move around, valuables break, and your pristine antique china…well let’s just say it might not be so pristine when you arrive at your new digs. Moving insurance protects your belongings in case things take a turn for the worst during your relocation.

Do I need to buy moving insurance?

The short answer… maybe.

The long answer. All moving companies (i.e. the ones who provide that actual truck) are required by federal law to carry released value protection. So when you book a moving company, you will have released value protection at no additional charge to you. This insures your belongings at 60 cents per pound. But, I’m guessing your stuff is worth a heck of a lot more than 60 cents per pound. That 30 pound TV? Probably worth more than $18. If there is any real damage, you will end up paying quite a bit out-of-pocket to replace a broken or damaged item. If that doesn’t sound like enough coverage for you,  then yes you’ll need to purchase moving insurance.

If you’re hiring a labor-only moving company, then it’s likely that they will not offer insurance. In fact, it’s incredibly rare to find labor-only moving companies who offer any kind of insurance. So if you’re planning a hybrid move (renting the truck yourself, and hiring labor to help pack it up) then you’ll need to keep that in mind. But there’s good news! If you book moving labor through HireAHelper, you’ll receive that free insurance ($.60 per pound) that most moving laborers don’t carry.

What about my homeowner’s/renter’s insurance…does that cover my move?

Perhaps. Some insurance policies cover the moving process, but often times your goods are only insured when they’re inside the home…not during transportation. You’ll need to double-check with your insurance agent before the move.

How much does moving insurance cost?

Depends. If you’re looking for additional coverage (past the standard .$60 per pound) then you’ll have to pay for it. The price of a policy is directly proportional to the amount of coverage you need. There are many options to choose from (declared value, lump sum value, full value protection, etc.), but the most important element to consider is whether or not the policy truly protects your belongings and their actual value. HireAHelper offers Valued Inventory insurance coverage (aka full value protection) at an additional cost of between $10-$14 per $1,000 of protection, as long as your order meets certain requirements*.

Discuss the various options with your moving company and decide what might be right for you.

Bottom Line: No matter what you decide, you’ll need to discuss your options and make a decision long before that moving truck arrives. For more information from the U.S. Department of Transportation, check out this link.

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*HireAHelper Full Valuation Moving Insurance Fine Print:

  • Available for purchase except on same/next day requests.
  • Customer must choose a service provider with 2+ reviews and a 4.5+ avg review.
  • Covers items while movers are handling them and also during transport in a storage container if the customer hires someone via HAH to do all the loading & unloading.
  • Rates vary but “labor only” costs $10 per $1000 in coverage and “labor + interstate transit” in container costs $14 per $1000 of coverage. Minimum premium = $50.
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