Cost Of Moving Company Insurance: What To Know Before Start

Cost of Moving Company Insurance is a big factor, because the services provided by moving companies can be frustrating or difficult for many. In some cases, it is not convenient to move possessions from one house to another. It seems more and more common that people hire movers to handle everything for them, regardless of how expensive it may be.

To fill this niche, you would need to hire employees, handle property, drive trucks, etc., which is a risk in itself. It would be best if you had adequate insurance. Moving companies of all sizes must have insurance. There are always going to be accidents. Any job, no matter how small, may cause significant property damage or injure a client, employee, or third party. If left unattended, you may end up facing severe personal or professional liability.

Once you have read this, you will know all about the advantages and disadvantages of moving company insurance and can choose the policy that best suits your business needs. We ensure all our movers in Rockville MD insured.

Moving Insurance: What Is It?

In the event of a move, your belongings will be protected from damage and loss by moving insurance. If something goes wrong, a policy will guarantee you some kind of reimbursement. 

Moving is not the same for everyone, nor are relocation insurance policies. Moving costs are determined by distance as well as the value of the goods. Contact your provider to find out what the cost estimates are, along with insurance quotes & reimbursement details.

Moving Insurance: Is It Worth The Money?

Generally speaking, many people find moving insurance to be worth the investment. Particularly when you consider how much the truckload of items would cost to replace after a flood, here is the right place. However, if you are moving locally or just to another city without a lot of high-value items, release value protection may be suitable for your needs.

Once your move has gone smoothly, you will enjoy a sense of relief. Nevertheless, if you find missing or damaged items, be sure to save full documentation from the moving company as well as third-party insurers. In order to get the claims procedure started, contact each party.

How Does Moving Insurance Work? In-Depth Discussion

There are the following 3 types of moving insurance available to consumers:

Basic Coverage: Also called released value coverage, this type of coverage covers the most basic aspects of moving.

Full Coverage: Also known as full value protection or expanded valuation moving insurance, it provides liability coverage for your company. Therefore, the company has more responsibility than just providing basic coverage.

Third-Party Insurance: Sometimes, a moving company’s full coverage is not enough. If you have a valuable item, you should get third-party insurance.

The moving company must offer full coverage and basic options when performing interstate moves. In theory, moving companies can’t sell insurance. In this case, moving insurance actually refers to moving coverage. Only third parties can provide moving insurance.

Released Value Protection

  • Released value protection, or basic coverage, is required by federal law for interstate movers.
  • A moving company’s quote automatically includes this coverage without costing extra.
  • In most cases, release value insurance offers 60 cents for each pound of lost items, not enough to cover most people.
  • TVs weigh about 35 pounds on average, so basic coverage will only reimburse you $21 if your mover damages your TV.
  • Your own packing will void this coverage – you assume responsibility when you pack your own belongings. For people moving short distances or who wish to reduce their costs, basic coverage is best.

Basic coverage might be used by: College students moving from dorm rooms to parents’ houses. People with limited cash and items of low value may prefer released value protection for the summer.  

Ensuring Your Valuables While Moving

  • It is significantly more expensive to buy full value protection relocation insurance than released value protection, which gives you $0.60 per pound of coverage. 
  • Typically, a pound is valued at $6. If you ship 5,000 pounds & it somehow gets lost, damaged, or destroyed, your claim is worth up to $30,000. 
  • Moving items with complete valuation coverage is typically cost-effective, costing about 1%.
  • There are some companies that offer a full valuation using your current estimated value. 
  • During your quote collection process, ask each relocation company if they offer this service.
  • Despite the coverage being “full,” some consumers may still want more, especially when dealing with small but valuable possessions. 
  • A third-party insurance policy is usually resorted to by these consumers.

Full coverage is suitable for: Moving across the country might require full coverage moving insurance. Their household items may be more likely to be insured if they spend more. Their possessions may be especially at risk if they fear natural disasters or other events.

Moving Insurance From A “Third Party”

Due to weight determining basic & full coverage, these options fail to cover expensive items adequately. There is a limitation to the value of comprehensive coverage, as its rate of $6 per pound does not include jewelry, usually weighing less than one pound. The best way to protect these items is with third-party moving insurance.

The following types of damage are covered by third-party relocation insurance:

  • Mechanical & electrical accidents
  • Disasters caused by nature
  • Moths & insects
  • Mold & mildew
  • Collectibles or sets damaged
  • Temporary storage

Those who might need third-party insurance: A family moving out of state looking for insurance on jewelry, antiques, & valuable paintings needs third-party insurance to protect their belongings. In addition, the couple should choose a moving company that provides full coverage of all their belongings.

cost of moving company insurance

Is It Expensive To Insure Moving Companies?

According to insurance providers, company size, number of employees, coverage, and risks, moving company insurance costs range from $39 to $279 per month. Here are the average premiums:

A majority of insurance companies will allow you to customize a policy with whatever insurance you require.

Describe Moving Company Insurance.

The main function of moving companies is to transport clients’ possessions from their old properties or residences to their new ones, but what separates good service from a poor one is to do so within the given deadline and in a safe manner. Even with the best intentions, accidents will happen, and when dealing with someone’s valuables or sentimental items, those can be expensive and potentially ruinous for your business.

It would be best if you moved company insurance to protect yourself from these risks. The policy provides coverage for the cost of replacing or repairing damage, among other things. If you want to do business in the moving industry, you need to be insured, no matter how big or small your company is.

Describe What It Covers.

Each time moving companies carry out a job, there is the potential for risky situations. The vehicle and property inside your vehicle, as well as another vehicle, could be damaged in an accident while en route to the new location. It is possible for an employee to drop a dresser, causing a piece of furniture to break and their foot to become broken.

When loading a truck with something into it, a client might trip over a furniture dolly. In these cases and others that fit into the following categories, most moving services in Rockville insurance policies cover you:

  • Body injury suffered by a third party
  • Damage to property of a third party
  • Injury to an individual
  • Damage to a finished product
  • Collision with vehicles owned by businesses
  • Property damage during transportation
  • On behalf of Bailee
  • Motor truck Margo
  • float installation

Explain What It Doesn’t Cover.

In some cases, insurance policies may not cover certain risks. Among these are:

  • Accidental and illness-related medical costs of employees
  • Debris theft and equipment breakdown
  • Compensation for business interruptions
  • Reimbursing unhappy customers

If you want to protect yourself from scenarios like this, you can usually add additional coverage.

Pros Of Moving Companies Insurance

Insurance for moving companies offers a variety of benefits to help cover the risks your business faces, including:

  • Business Growth: Reputable moving companies are likely to have comprehensive coverage since they have a good reputation. Potential clients can feel more comfortable knowing their belongings are covered in case an accident occurs.
  • Expenses Of A Lawsuit: Moving company insurance will cover the costs of a lawsuit, including attorney fees and damages, if a client, employee, or third party brings suit against you.
  • Confidence In Yourself:​ If something goes wrong outside of your control, you and your employees will have peace of mind knowing that you are covered.

Buying Tips

Before making a decision on plumbing insurance, consider these factors:

  • Work With An Independent Agent: You can get the best rates and coverage experience by talking to a third party that specializes in covering moving companies.
  • Risk Identification: Analyze your business for risks and identify potential risks. You should set high limits for clients who have expensive equipment or if your business specializes in wealthy clients.
  • Quote Comparison: Different insurance companies charge different rates. Get multiple quotes and do the research to find the most affordable policy.



1. What should I do if a client claims that I failed to fulfill my contract?

Having professional liability insurance protects your company from lawsuits arising out of allegations of contract breaches.

2. How much workers ‘compensation insurance do I need?

The majority of states require workers’ compensation insurance. In addition, moving presents a risk to movers’ health, and injuries are common. In the event that an employee sues after hurting their back, this coverage will be far less expensive than defending a lawsuit.

3. Is it possible to mitigate risk?

Be sure you understand what the job entails. Obtain a list of all items involved and an estimate of their weight. You should then send out a crew capable of handling the task, with a sufficient number of people and veterans on board. Also, ensure that they are equipped with all the equipment necessary for the job. Whenever employees feel their supervisor is asking them to do something potentially dangerous or risky, tell them to reach out to their supervisor.

4. Are moving companies responsible for damages?

In a certain sense, they are responsible. If your home is damaged or items packed by the movers are destroyed, they are responsible. Also, they are liable for lost or damaged items during transit. There are no warranties provided by movers for items that they did not pack, natural disaster damage, or items that were damaged during temporary storage not related to their company.

5. Does my homeowner’s insurance cover move?

Yes, sometimes. Due to the differences in policies, be sure to get in touch with your homeowner’s insurance company.

6. Does renters insurance cover moving?

A typical renter’s insurance policy does not provide sufficient coverage when moving. To find out more, please refer to your home insurance policy.

7. What is included in a business owner’s policy?

Business owners’ policies typically cover general liability, commercial property and business interruption. However, business owners’ policies are usually customizable. Therefore, your agent might offer professional liability, auto coverage, or other options based on your business’s needs.

8. Business insurance versus general liability insurance – what’s the difference?

The term “business insurance” encompasses a wide range of coverage options a business might need. “General liability insurance,” in contrast, provides business owners with specific coverage which protects their assets.


Cost of Moving Company Insurance actually depends on many aspects. If you cause harm or damage priceless property during a move, moving company in Rockville insurance covers your company against financial ruin due to lawsuits.

It is easy to feel secure about the security of your business when you understand moving company insurance costs and determine your needs.

3 thoughts on “Cost Of Moving Company Insurance: What To Know Before Start”

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