Moving insurance from an agent who specializes in such policies is the way to go when you rent a truck for moving the do-it-yourself way.  As explained below, your existing homeowner policy probably doesn’t cover your belongings while in transit or in the hands of friends who may be helping you move. And the terms of coverage offered by moving truck rental companies may be significantly different from coverage you can obtain separately, especially when it comes to how your belongings are valued. Read on for the whys and wherefores.

Most people don’t realize that moving companies and truck rental companies are not automatically insuring your belongings for their true value. In the United States they are accountable for only .10 to .30 cents per pound per item, depending on the company and depending on whether you are moving in state or out of state.  

Moreover, most homeowner policies and renters’ policies might have you covered for damages caused by the packers while still in the house, but not during the ride to your new place.

So here’s why it’s a good idea to buy real moving insurance from a specialist:

1. Your belongings will be covered in case of damage due to “Acts of God” (severe weather events) at replacement cost.

2. If  you buy insurance from the rental truck company, you’re accepting their terms. If you buy insurance through an insurance agent, you’re getting bona fide coverage from a third party underwriter, and this is really the way to go.

3. Opt for the All Risk insurance option. It provides full value replacement less the deductible. Avoid “Actual Cash Value” insurance because this will not provide full replacement remuneration.

4. A bona fide moving insurance policy should protect your belongings for up to 90 days. This includes converage during the move and while in storage. Also, you can extend this past 90 days if needed.

5. You’ll get a real Certificate of Insurance from the underwriter. It shows all the information you provided on your insurance application; the terms of coverage; and serves as proof of coverage.

Buy your moving insurance from your insurance agent or one who specializes in it instead of getting the most minimal coverage as provided by the moving truck rental companies and move on with peace of mind.

From OP’s Blogs…

Moving Insurance vs. Liability Coverage There are companies that sell moving insurance, but most require that an approved mover packs your items. It’s an excellent idea to contact your homeowner’s or renter’s insurance agent to see if your current policy covers you.

DIY Moving Cheap? Do you Really Need Moving Insurance? Every time you move you are taking the chance that your belongings could be damaged. The question is if you are moving cheap, should you get moving insurance.

Choosing the Right Kind of Moving Insurance It will be a good idea to get moving insurance done. It does not matter if the move is short or long.

Moving Insurance Saving Money Before buying moving insurance, you should find out what the insurance will include, what it will not include, and how to file a claim. 

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