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Last Updated: Jan 01, 2024
Discover the best moving insurance companies that offer reliable and comprehensive coverage for a worry-free relocation. Protect your belongings with peace of mind!
When you’re planning a move, hiring a moving company is usually the biggest step – but have you thought about moving insurance? While professional movers are safe, courteous, and capable, there’s always the chance of something going wrong.
Fortunately, Moving Feedback carefully reviewed your options for moving insurance services, and we picked two companies that meet our standards. Read on to learn more about how moving insurance can help, and see how you can make your move even easier.
Moving is challenging. The whole process takes a lot of planning, and it’s difficult to totally expect the unexpected. While professional moving company can handle the heavy lifting – and they’re good at what they do – there’s always a chance that something gets broken, damaged, destroyed, or lost in transit.
Moving insurance can cover the cost of any damages or losses during your relocation. It’s a must-have if you’re concerned about fragile or valuable items, and even if you’re moving small and moving simply, it’s good to have financial protection in case of emergencies.
While many moving companies offer partial or minimum coverage, additional moving insurance enhances your overall coverage and ensures comprehensive protection. These policies can cover any damages or losses that occur from loading, shipping, and handling, as well as any natural disasters.
There’s a lot to think about when shopping for insurance. Read on to learn more about whether you’ll need it for your move, how much it’ll cost you, and who you can count on for dependable coverage.
Most movers offer basic coverage at a little extra cost, but if you want some extra security, expect to pay between $400 and $3500 – and sometimes more. It really depends on what type of coverage you choose, and how much stuff you have to insure.
Also known as basic coverage, released value protection is often included in your moving contract at little to no additional cost. While it’s the cheapest option, keep in mind it usually only covers $0.60 per pound of damaged, lost, or destroyed items. That means if your 20-pound TV breaks, you’re only going to be reimbursed 12 bucks.
If you want to be paid the full value of any broken belongings, you’ll need full value protection. If your movers offer full value protection, expect to pay about 1% of the estimated value of your belongings for the added security.
To determine the final cost of your full value protection, your movers will weigh your household items. They don’t literally put your stuff on a scale – they’ll usually just send an agent to take an inventory of your belongings and work from that estimate.
Once your movers know the weight of your belongings, they’ll assign a per-pound value. This is usually $6, but it may vary a little depending on your mover of choice. A 5,000-pound move will be valued at $30,000, and so on.
For a rough estimate of the cost of full-value protection (using an industry-average $6 per pound valuation) take a look at this table:
| Move Weight | Value of goods | Cost of Full coverage |
|---|---|---|
| 2,000 pounds | $12,000 | $120 |
| 5,000 pounds | $30,000 | $300 |
| 10,000 pounds | $60,000 | $600 |
If you don’t want to pay your movers for full coverage insurance (or your movers don’t offer a full coverage insurance policy) you’ll have to go through a third party.
The cost of third-party insurance varies based on the insurance company’s policy, usually ranging from 1% to 5% of the total valuation. For example, if you want to insure belongings worth $5,000 and the rate is 3%, you would pay $150 for the insurance.
To estimate the cost of third-party insurance:
| Value of covered items | 1% of valuation | 3% of valuation | 5% of valuation |
|---|---|---|---|
| $1,000 | $10 | $30 | $50 |
| $5,000 | $50 | $150 | $250 |
| $10,000 | $100 | $300 | $500 |
| $25,000 | $250 | $750 | $1,250 |
Keep in mind, your final cost will vary depending on the company you choose and the rates they offer. Speaking of your different options for moving insurance, read on to see our top picks.
We’ve walked you through your options for moving insurance, and you’ve learned what you can expect about the price. Now let’s take a look at the top two moving insurance companies that earned the MovingFeedback seal of approval:
BEST OVERALL
4.8
Out of all the moving insurance providers in the industry, MovingInsurance.com really stands out. Founded with the aim of providing top-notch coverage for their customers, they’ve maintained a position as one of the country’s leading insurance vendors.
MovingInsurance.com offers comprehensive coverage for moves of all shapes and sizes. They can protect your residential move just as well as your corporate relocation – whether you’re moving down the block, across town, or across the country. They cover international moving, too.
If you want comprehensive moving insurance, we recommend MovingInsurance’s full replacement value plan.
They also offer a wide range of other services and packages:
MovingInsurance.com covers the actual declared values of household items. This type of protection really exceeds the limited coverage provided by other moving companies and insurance providers.
Licenses:
DOT#: N/A MC#: N/A
Type:
Moving Insurance Provider
Baker International
4.6
Established in 1981, Baker International specializes in offering comprehensive insurance coverage for household moves and corporate relocations. They offer full coverage policies for every step of your move, as well as committed and communicative customer support.
Baker places extra emphasis on claims service. If you need to report any damaged or lost items, they make the whole process easy and efficient. It’s a great help, especially considering the stress and frustration that usually comes with filing a claim.
Baker International provides a range of moving insurance policies, including:
After reviewing and researching Baker International, the MovingFeedback team is proud to give them our seal of approval.
They stand out among the competition for their comprehensive insurance plans, and they are commitment to efficient claims processing is really impressive.
Licenses:
DOT#: MC#:
Type:
Moving Insurance Provider
There are actually several different options for insuring your move. Take a look at some common types of moving insurance policies before committing to a plan:
With this type of moving insurance, an insurance provider charges based on the weight of each item. There’s unlimited coverage, and your insurance payout increases with the weight of your stuff. It’s a detailed and itemized approach to coverage, but since some items are worth way more than their weight, you may want to look into more comprehensive plans.
With this type of moving insurance, your insurance premium is determined based on the actual value of the items being moved. You, as the client, declare the values of your belongings to the moving company. The insurance company then calculates the appropriate premium based on these declared values.
Provide accurate pricing info to make sure you’re getting proper coverage – and to make sure you aren’t paying too much on your insurance premium.
This type of insurance policy includes all charges, and no additional insurance premium needs to be paid separately. However, the coverage amount may be relatively low, resulting in limited compensation.
This insurance coverage operates like an inventory. You and your insurance company work together to create a comprehensive list of items to be covered, along with their respective values. Check and double-check that all of your belongings are included in the list, as any items not listed will not be covered.
Also known as perils insurance, limited insurance coverage provides compensation only for the losses that were specified and agreed upon in your insurance agreement. It typically covers belongings during transportation and storage, but not during loading and unloading.
If you only have a few fragile or valuable items, select inventory coverage may be the choice for you. This type of insurance only covers certain belongings, rather than everything you own. You and your insurance provider will map out what will be included. In the event of damage, compensation is provided for those items, and nothing else.
There’s a whole range of moving insurance policies to suit your specific needs. But how do you know which is right for you? Read on to see how to choose the right valuation option for your move.
Moving insurance may seem like a significant investment. However, the protection and peace of mind is worth the cost, especially when dealing with all the unexpected challenges of a move. Here’s how you can decide on the right coverage plan.
Create a comprehensive list of all your possessions, from clothes to furniture. We also recommended you use your phone or a camera to document your belongings with photos and video.
Take note of important details and any existing damage. This process may require some effort, but having a detailed inventory will save you money and stress in the long run.
When you’re taking inventory, ask yourself a few important questions:
Calculate the total value of your items and estimate the weight of your household possessions using an online calculator. Then, consider which insurance plan suits your needs better:
If you choose an item for item coverage (also known as released value protection), your moving insurance company will be liable for a specific dollar amount for every pound of belongings lost, damaged, or destroyed.
Movers are legally required to provide a minimum of $0.60 per pound, which means – you guessed it – most item-for-item coverage plans are for $0.60 per pound. If the total weight of all your stuff is 10,000 pounds, your moving company is only responsible for $6,000 worth of liability.
The item for the item/released value protection is only a good option if you know you aren’t moving a lot of fragile or expensive items. If you only have item-for-item coverage, your 20-pound TV will only be worth $12 if it’s broken or damaged. Not a good deal.
When you’re shopping for moving insurance, you really need to consider the total value of your belongings. Value coverage plans can reimburse the total cost of your belongings, but they cost a lot more than item-for-item plans.
Evaluate whether the additional cost of full coverage insurance is justified. You’ll have to consider the potential loss or damage of your high-value items, and how much those high-value items will cost to replace.
If you need to provide a price estimate for your belongings, make sure you get accurate numbers, or you may end up either A: paying too much for insurance, or B: not getting enough money if anything gets damaged. It takes time to map out all your belongings (and to search up their values), but if you want extra peace of mind and protection, it’s an essential step.
When making a decision about the type of protection you need, consider additional factors such as the distance of your move and whether you have any items of higher value. These factors may influence your decision, since there’s (ideally) less chance for something to go wrong if you’re just moving down the block or down the hall instead of across the country.
Ultimately, your insurance coverage is up to you. “Better safe than sorry,” is true in a lot of cases, but if you’re trying to min/max your savings, you might be more inclined to live a little dangerously.
If you want to protect your stuff during your move, moving insurance is a must. It’s a small price to pay for a lot of peace of mind, and it’s a great way to prepare for the unexpected. Even if you’re hiring professional movers, accidents (although rare) can still happen. Buy insurance, cut down on stress, and keep your stuff safe..
If you’re moving DIY, your homeowners or rental insurance may not cover your move. This means you’ll assume all risks, including packing and transport. On the other hand, if you rent a truck, you may be able to purchase additional insurance coverage for your move.
Moving insurance covers any belongings that are transported by your professional movers, but make sure you read the fine print to make sure you understand what that really entails. If you’re loading up your car with some stuff and handling a few boxes by yourself, they may not be covered. Every plan is different, so call ahead and confirm how in-depth your coverage extends.
Filing a claim is how you actually collect money from your insurance policy. Your insurance doesn’t matter unless you take the time to file a claim in the event of loss or destruction of property – otherwise, you’re just paying money for nothing.
Before your move, make an inventory list of all your items (including photo and video evidence). If anything is broken or destroyed during transport, you’ll need to take photos of the damage and submit the before and after pics to your insurance provider’s claim department.
It depends on your plan: If you chose full value protection, everything in your moving inventory should be protected. However, if you decided on a select inventory coverage plan, your insurance provider will only pay for items on a specific list of your belongings.
Some insurance providers may throw in additional exemptions, even with full-value coverage. It’s important to carefully review the terms and conditions of your moving insurance policy to understand the coverage limitations and exclusions to ensure adequate protection for your belongings during the move.
You’ve seen our top picks for moving insurance, and you’ve learned a little more about your coverage options. Now all you have to do is plan out your move, get in touch with some long distance movers, and pick a plan that works best for your needs!
Safe travels and happy moving! Best of luck with your big move, and keep yourself safe with moving insurance. Don’t forget – we’re always digging up new info! Check back in with Moving Feedback to make moving day even easier!
Meet Harrison, a writer with a real passion for real estate and moving. For the past three years, he's been putting his writing skills to use for companies in these industries, but his experience with moving extends far beyond his keyboard. In fact, he's moved over a dozen times himself, sometimes with the help of professionals, and other times by taking on the move all on his own. Through these experiences, he's learned some valuable lessons about what can make a move a breeze, and what can turn it into a stressful nightmare. And when he's not busy writing, you can find him researching ways to make his next move as smooth and easy as possible.