What Does “Insured” Mean for a Moving Company?

When discussing insurance for a moving company, there are actually two things to be insured:

1. The Moving Company.
   Business insurance for a moving company will traditionally cover their facilities, equipment, fleet, and employees. Most often this includes vehicle and liability insurance. In addition, D.O.T. (Department of Transportation) numbers can be researched for commercial vehicles here.
2. Your, the customer’s, belongings.
   There are a few subsets to this group. Federal regulations require moving companies to consumers who are “out-of-state” moves. The first is “released value protection”. This basic coverage protects the contents for 60-cents per pound of the load. That may sound like an OK deal, but remember that this level-value applies to everything from rubber bands to diamond earrings. The second version is “full value protection”. You’ll find a document regarding these details, here. As you might guess, this insurance can cover your possessions for the full replacement value. There are options and liability limits within this insurance as well. So, be sure to review them with your moving company.

There are also upgrades available to provide additional coverage to your belongings, should you have many high-value items or antiques.

When you hire a moving company it’s very important to find and screen those who are reputable. In addition, it may also help to review customer testimonials regarding their previous work. And if you think you want to hire a particular moving company make sure you do some checking of your own by contacting third-party sources such as the Better Business Bureau.

If it turns out the residential moving company you’re speaking with does not have adequate insurance coverage, we suggest you dismiss them as a prospect in your search. In our opinion, your personal property, including any valuable items, are worth much more than saving a few dollars. As the customer, you have the right to verify that the mover does, in fact, have proper insurance coverage in advance. Most legitimate organizations of this kind should gladly present the customer with proof that they are fully insured.  If the company has a clean slate and the insurance is verifiable, you may wish to proceed with securing your relocation plans.

Once proof of coverage is verified, then the customer can make arrangements for their services. Appointments with residential moving companies are normally made at least two or more weeks in advance.

It may be a wise decision for the customer to make an inventory list of all furniture and personal effects in advance. You can go over the inventory list with the movers and even have one of the workers initial your list. Making a list may make it easier for you if anything is missing or broken after the move has been completed. 

Reliable moving companies that handle relocation services are not normally cheap. Therefore, if you find a company willing to charge you a reduced rate, be certain you make it a point to verify their credentials. If the deal seems too good to be true, it probably is. Remember that Professional Movers are just that-“Professionals”. Reputable companies take time to train their workers on personal safety, proper working techniques, and customer service.

At Murphy, we take great pride in our people, our work and being part of your move!