Should You Purchase Moving “Insurance?”

Should You Purchase Moving “Insurance?”

The most important thing to remember when hiring a moving company is that accidents can happen, no matter how careful everyone is.  Boxes can be dropped and things can slip, no matter how much research you’ve done ahead of time.  There are just some things you can’t control.

Valuation and “Insurance”

Generally, a moving company will not provide much valuation automatically.  Based on where you will be moving from and the type of move you’re doing, your valuation coverage may differ.  You must understand that valuation coverage is not insurance, it is just a predetermined amount of liability explained in the moving contract.  Many consumers refer to valuation coverage as insurance, however moving companies do not sell insurance, they sell valuation coverage. 

There are three kinds of valuation.

  • Declared Value – The cost of your stuff is based on the total weight of the shipment.  This amount is all that the mover would be responsible for.
  • Lump Sum or Assessed Value – If all of your belongings don’t weigh a lot but are valuable, you might want to consider coverage that is based on cost rather than weight.  This will need to be determined in advance.
  • Full Value Coverage – This protects you from lost, damaged, or destroyed property and will cover the cost of repair or replacement.

Assessing the Value of Your Stuff

Before selecting any moving insurance, you need to assess the value of your stuff.  Make a list of all your major furniture and appliances and approximate their weight.  Boxes can be packed and weighed as well.  Remember to take photos of all of your belongings in case you ever to need to file a claim.


While the valuation coverage that moving companies provide works well for some people, additional insurance is definitely needed by others.  Check into your homeowner insurance policy – it might actually cover your stuff during a move.  Knowing how much coverage you already have for relocation may help you decide how much additional insurance you need.

Lance Grooms