Moving Insurance Guide
Being comfortable with your insurance coverage is critical during a move, because you are entrusting your personal goods to a transporter. Though very unlikely, the chance for loss and damage is possible. You should be prepared and protected through your insurance coverage. Keep reading to learn how to be informed and knowledgeable about moving insurance.
Check insurance coverage
In addition to being registered with the Department of Transportation, all household moving companies are required to carry a minimum amount of insurance. Coverage varies from mover to mover, so be sure to ask for each company’s specific policy. The basic policy is often outlined in the carrier’s uShip profile, but they should also provide you with a written proof of their insurance coverage. This document is called a Certificate of Insurance. Confirming a mover’s insurance is easy: just look them up on http://www.safersys.org or call the insurance company listed on the certificate. You should also be able to purchase additional insurance from the moving company, which is highly recommended.
Home moves transported through uShip are eligible for uShip Cargo Insurance. When accepting a bid, you have the option to purchase additional coverage. This policy is all-risk covering approved goods against damage, lost or stolen claims subject to the terms and exclusions of the policy. Learn more about uShip Cargo Insurance here.
Moving Insurance & Liability Issues
One of the primary benefits of hiring a professional mover is moving insurance. Licensed household movers are required to carry a minimum amount of insurance to cover your items; this same sort of insurance is not available if you move yourself. Moving insurance coverage varies from mover to mover, so learn about the different insurance options you have when moving before committing to an insurance or liability contract.
There are levels of liability when it comes to moving insurance. Keep reading to determine which level is most suitable for you and your move.
- Full replacement value – The most comprehensive coverage for your belongings is also the most expensive. It is available for intrastate, interstate and international moves. Under this protection, the mover is liable for the full value of your itemized goods (with the exception of items exceeding a value of $100 per pound). The mover will determine the value of lost or damaged goods and whether to replace, repair or offer a cash settlement for them. Ask about the deductible and inform the movers of any valuable items they may not know about.
- Released value – This is the most basic coverage that a moving company can provide and is included in the cost of any move. You must request released value coverage and sign for it. Under this coverage, the mover is liable for no more than $0.60 per pound of your belongings. If any of your items are damaged or lost, you will be responsible for most of the replacement or repair costs.
A very detailed description of insurance policies is available at The Department of Transportation Household Goods website.
One important thing to remember about household moving insurance is that movers are not liable for damage to items inside boxes you packed, unless there is physical damage to the box itself. The easiest way to protect against this sort of damage is to hire the moving company to professionally pack your fragile and valuable items. If there is damage to items that were professionally packed, the moving company is liable for the loss.
You may already be covered for a move under your home insurance policy or have the opportunity to pay a premium for short-term coverage. Otherwise, you can purchase extra insurance from the moving company who may offer a deal from third party insurance provider, such as uShip Cargo Insurance.« How to Choose a Moving Company Moving Checklist »