{"id":4726,"date":"2023-10-31T16:16:11","date_gmt":"2023-10-31T16:16:11","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=4726"},"modified":"2023-10-31T16:16:14","modified_gmt":"2023-10-31T16:16:14","slug":"moving-insurance-coverage-cost-top-providers","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/insurance-guide\/moving-insurance-coverage-cost-top-providers\/","title":{"rendered":"Moving Insurance: Coverage, Cost & Top Providers"},"content":{"rendered":"

Most renters and homeowners insurance policies usually do not cover the cost of damaged or lost possessions due to a move. And since moving leaves your belongings exposed to a variety of potential problems, moving insurance might be worth taking a look at.<\/p>

When we hire professional movers, we can’t control what happens to our boxes and belongings once they’re out of our hands. That’s why moving insurance — or moving valuation or coverage, because moving companies do not actually offer insurance — is something to consider when you hire a moving company.\u00a0<\/p>

What Is Moving Insurance?<\/strong><\/h2>

A moving insurance policy covers your belongings if they are lost, stolen, damaged or destroyed during your move. Moving insurance might cover repair or replacement or offer a cash settlement depending on the situation and the type of policy. <\/p>

The most common way to obtain moving insurance is through a moving or truck rental company. Policies are also available from third-party insurance companies.<\/p>

Moving insurance covers losses or damage to your possessions during a move. Because moving puts your possessions at risk of damage and theft, a moving insurance policy can help reimburse you for any mishaps during the moving process.<\/p>

Since there are many different ways to move, there are also various coverage types available to protect your belongings.<\/p>

Types of Moving Insurance for Professional Movers<\/strong><\/h2>

If you decide to hire movers, they are generally responsible for the items you have them transport. However, if you are moving to a different state,\u00a0moving companies\u00a0are required by federal law to offer two types of coverage. The type you select will determine the reimbursement you\u2019ll receive if any of your items are lost or damaged.<\/p>

Full value protection<\/strong><\/span><\/h3>

Moving companies must offer full-value protection (FVP) that covers the full replacement value of your belongings. Although it costs extra, FVP is the default coverage and must be included in your initial quote.<\/p>

The moving company will address lost, destroyed or damaged items in one of three ways:<\/p>