Moving can be a stressful experience, and it's essential to make sure your belongings are safeguarded during the relocation. Most policies for homeowners, renters, and condominiums cover your personal property during a move, but you won't usually be insured for damage caused by the moving company. Car transportation companies may be legally required to take out insurance that covers damage while your vehicle is in transit. However, it's up to you to check the car dealer's insurance coverage and ensure their coverage limits are high enough to replace your vehicle if it is destroyed or damaged during transportation.
A moving insurance policy can help reimburse you for any mishaps during the moving process, but a homeowners insurance policy does not normally cover damage to a refrigerator that breaks down due to normal wear and tear or lack of maintenance. Your car insurance may be able to provide coverage if there are problems with the carrier's insurance. If the driver doesn't have their own auto insurance policy, you can request that they take out a non-homeowner's car insurance policy with minimal liability coverage. The cost of moving insurance will depend on factors such as the value of your belongings and the type of coverage you choose.
Most insurance policies for renters and homeowners don't usually cover the cost of possessions damaged or lost due to a move. If you decide to purchase additional moving insurance through the moving company or a third-party provider, be sure to get the details of the coverage in writing and that you understand what it covers and what it excludes. Auto transportation insurance coverage requirements can vary by state, so it's worth asking for the details of your insurance policy. In that case, weather conditions are more likely to damage your belongings; a moving insurance policy can give you peace of mind.
You won't receive the basic liability protection guaranteed by moving companies, but your housing, renters or condo policy may cover damage, within the limits of your policy, to objects caused by theft, acts of vandalism, or if the moving truck is involved in a car accident. You may want to choose a car carrier with adequate insurance to cover any damage that occurs to your car during the moving process. If there are any issues with the car dealer's insurance and your policy may offer coverage, remember that you'll have to pay the car insurance deductible out of pocket. You don't want to be financially responsible for any damage you cause to the moving truck, since the comprehensive and collision coverages in your auto policy may not cover large or oversized trucks and moving vehicles. While you can save money on moving costs if you do the heavy lifting alone or with friends, your policy won't cover damage caused by the process of moving items. It's important to consider all these factors when deciding whether additional coverage is necessary for items damaged during transit.
If you're uncertain about what type of coverage is best for you, it's always best to speak with an experienced professional who can help guide you through the process.