Do I need moving insurance?

Do I need moving insurance?

Are you planning a relocation soon? Whether you choose to go the DIY route or you plan to hire a professional Arizona moving company, there is always the slim chance that something can get lost or broken. That is where moving insurance comes in. Moving insurance provides residents peace of mind knowing that their personal belongings are protected in case they are damaged during the move.

The level of coverage may vary depending on your moving insurance policy. It is important to do research and make sure you find a moving company that is fully covered or purchase additional insurance, just in case. We asked our local Phoenix movers for their expertise on everything you need to know about moving insurance as well as the conditions regarding the moving company’s insurance coverage. If you are still asking, “Do I need moving insurance?” keep reading to have your questions answered!

What Is Moving Insurance?

The first thing that is important to know is that moving insurance isn’t actually insurance. It is called a valuation, which works similarly to insurance. When planning a move, insurance for moving or valuation will provide compensation for any of your belongings that are damaged or lost during a move. If you choose to move yourself instead of hiring a moving company, then it falls on you to shop for a movers insurance policy to help you in case something happens to your belongings. 

Do Movers Offer Insurance?

If you are moving with the help of a professional and reputable moving company, like Copperstate Moving, there are likely moving insurance options. Under federal law, moving companies are required to, at minimum, offer released value protection or basic coverage for lost or damaged items. Most insurance companies will offer additional moving insurance options because moving crews are responsible and liable for your personal belongings. 

Types of Moving Insurance

Our Goodyear movers note that moving insurance is different from regular insurance. Moving insurance is valuation insurance, which means there is a fixed price for lost or damaged items stipulated in the policy. You should understand the different types of moving insurance and what’s covered under each type of policy so you can best determine what’s right for your needs. 

  • Released Value Insurance
  • Full-Replacement Value Insurance
  • Third-Party Moving Insurance

What Is Released Value Insurance?

Released value insurance is the most basic form of insurance coverage, making it the cheapest option. In fact, it’s usually already included in the moving quote the moving company gives you. With released value insurance, the value of your possessions is defined by weight, which is generally 60 cents per pound. 

What Is Full-Replacement Value Insurance?

Full-replacement value protection will cover the entire cost of replacing all damaged, lost, or stolen possessions. Full-replacement value protection is the best moving insurance policy because you are reimbursed in full for the value of your items. When an item is damaged or lost during a relocation, simply let the moving company know, which likely requires you to fill out a form, and they will determine the next course of action. The moving company can choose to repair an item, replace it, or pay the full market value of the item.

Most reputable moving companies will offer or include full value replacement insurance in the contract. This moving insurance option is the most expensive but provides owners with peace of mind that their personal belongings are covered during a move. 

If you own numerous antiques or valuable works of art, you may have to purchase additional moving insurance coverage according to our Surprise movers, even if you opted for full-replacement value insurance.

When you file a claim under full value protection, there are three options to fulfilling the claim:

  • Repair the item
  • Replace the good with an item of comparable value
  • Make a payout for the cost of repair or the current market value of the item


Is Third-Party Moving Insurance Worth It?

The answer to this question honestly depends on what you own and how you plan to move. With a moving company, there’s always going to be at least some level of protection. If you’re concerned about how a moving company will handle your belongings, however, you might consider a third-party option just to cover all your bases.

If you plan to move on your own, you are completely responsible if your possessions are lost or damaged; repair or replacement costs would come out of your pocket. A thirdparty insurance option, in this case, might be the best choice for your peace of mind, especially if you’re concerned about your valuable belongings during transit. 

Third-party moving insurance can be purchased independently or through a moving company that offers it. 


Does Renter’s Insurance Protect a Move?

Every renter’s insurance policy differs. Check your renter’s insurance policy to see if damaged or lost items during a move are covered. In most cases, renter’s insurance does not cover moving-related damages, meaning you will have to buy moving insurance to fully protect your personal belongings. It never hurts to ask about your renter’s insurance policy, though, because sometimes they do at least offer limited protection.

Moving With a Professional Arizona Moving Company 

Whether you are moving within state lines or planning on a long-distance move, it is important to know what moving insurance and valuation options are available and which one is right for your move. At Copperstate Moving & Storage, our team is fully licensed and insured for any local or long-distance move. 

We offer exceptional Arizona loading and unloading services as well as packing services to ensure you have a stress-free moving experience. If your move has been delayed or you require extra space, the vaults at our West Phoenix storage facility are climatecontrolled and fully protected.

Contact us today to speak with a Copperstate Moving & Storage representative for more information about the services we offer, insurance options, and how we can help you plan your next move.


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