Moving Insurance: Is It Worth It?

by Carson BuckJune 9, 2016

Making Sure You’ve Got the Right Kind of Coverage for a Move

Moving to a new home can bring plenty of joy, what with the prospects of making an empty space your own, exploring new neighborhood quirks, and scouring for undiscovered eateries surrounding your new place. Yet the excitement is often postponed or diminished by the process of getting from one place to the next. Let’s face it – moving is both stressful and costly.

Like many other life transitions, moving brings about a few big questions: how far in advance should you start planning the move? How much help should you recruit or should you pay for a moving service? Do you add extra levels of security for moving valuables? If you’re eager to be proactive about limiting your stress when it’s time to move, then we’ve got two important words for you: moving insurance.

do you need moving insurance

Moving Insurance: Your Best Bet in Certain Situations

As your best bet against seasonal weather complications, long cross-country treks, and possible damages that may occur during the journey to your new home, moving insurance can provide valuable peace of mind against unforeseen losses. But what about the horror stories of broken china, misplaced heirlooms, and unpaid insurance claims?

The reality is that there are no guarantees that a box won’t shift en route to its final destination. But there are strategies that not only help you determine what kind of moving insurance is best suited for your situation, but also guide you away from scams and towards credible aid. Read on for a few tips for finding moving insurance that will help transition you and your goods to your new home with ease.

Know What You Need Before You Move

You may already have moving insurance, say, for example, if your homeowner’s insurance policy covers moving your goods to a new home. Be sure to investigate whether your items are fully or partially covered, and make sure you inquire about any coverage limitations (are you insured for comprehensive damage, or only certain kinds?).

Your moving company will also likely provide moving insurance, if you decide to enlist the help of such a service. The catch? It’s also highly likely that the company only offers limited liability. With base coverage, your goods are often protected for less than 50 cents per pound per article – nowhere near the amount of money it would cost to actually replace the items.

Given the risk, we recommend you invest in full-value replacement protection. A comprehensive option, full-value replacement protection not only assures that any lost or damaged goods will be replaced or compensated for in full, but also purchases security and peace of mind for the journey ahead.

do you need moving insurance

Beware of Moving Scams

As you watch all of your belongings head off with a “stranger,” we understand that the process can be nerve-wracking! Spend time researching both your moving company and your insurance choice before you make a final decision on how your belongings will be transported.

While you’re deciding which company to use, A) check to ensure that your choice has a Department of Transportation (DOT) number, and B) visit the Federal Motor Carrier Safety Administration website to reference the Safety and Fitness Electronic Records (SAFER) system. This database can inform you whether or not the company is properly insured. Knowing the credibility of your mover is a great first step, but don’t stop there.

Did you choose to select additional insurance? Be inquisitive about company repayment credibility. Which companies have a history of addressing complaints and claims in a timely manner? We recommend that you read reviews and speak with the companies about their process to help insure there won’t be any surprises if you do have to file a claim.

Ask Around for References on Your Moving Company

Know your resources, and don’t underestimate the tried and true method of word-of-mouth; you can and should ask for a referral based on someone’s recent experience going through the moving process. Do you know of any friends or family members who may have moved recently? Ask them about their experiences. What moving companies did they rely on? Where did they solicit recommendations from? Did they invest in additional moving insurance, or were they able to find a company with an attractive insurance package built in to the moving contract?

Your resources don’t end with people you know, either. Reach out to a real estate agent, the Better Business Bureau, or online reviews from a public support forum (think Yelp, or Angie’s List for starters). The list goes on, and the lesson here is to ask around. Testimonies and words of wisdom from others will help you vet moving insurance and company candidates to make your transition as seamless as possible.

The process of finding the best insurance for your move can be daunting, but rest assured – if you read the fine print and follow our advice, you’ll find you’ve got the time and energy to focus exclusively on the excitement that’s yet to come at your new home.

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About The Author
Carson Buck
Carson is a real estate agent based out of Phoenix, Arizona. Carson loves data and market research, and how readily available it is in today's world. He is passionate about interpreting these insights to help his clients find and buy their perfect home. Carson got into the real estate industry because he loves the feeling of handing over the keys to a new home to happy clients. In his free time, he works on his backyard bonsai garden and spends time with his wife, Julia.

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