Moving Insurance in Massachusetts

Are belongings insured by moving companies? 

Although moving companies typically offer insurance for the belongings that they handle, the insurance that moving companies provide can be extremely minimal. It may only cover a small fraction of what belongings are actually worth.

In many cases, a moving company’s standard insurance is based on weight. For example, coverage might be set at 30 cents per pound. If goods are damaged, reimbursement would be 30 cents times however many pounds of items were damaged.

This obviously is much less than what a dropped laptop, which might only weigh 3 pounds, would be worth. It’s also likely insufficient for dishes, books, furniture and most other items that residents or businesses own. Even clothes are likely worth much more than 30 cents per pound would pay.

Customers may have the option to upgrade a moving company’s insurance, but upgraded coverage still can be expensive and fall short. Purchasing coverage through a moving company usually means that the company gets a commission, which can drive up the price. Coverages aren’t always customizable for a specific move, either.

Working with a knowledgeable insurance agent usually provides the best coverage options and most competitive rates. An agent who specializes in relocations can help explore the customizable policies that insurance companies offer directly, which tend to be more robust and more affordable than moving company-provided options.

Does homeowners insurance or renters insurance cover a move?

Homeowners insurance and renters insurance don’t cover a move explicitly, but some policies might offer protection for belongings as they’re relocated.

Specifically, some homeowners and renters policies offer “worldwide coverage” for personal property. This generally indicates that belongings are covered most anywhere they’re taken (e.g. warzones are usually excluded).

A policy that offers worldwide coverage would likely cover belongings as they’re moved between two locations. 

When personal property coverage doesn’t include worldwide protection, belongings usually aren’t substantially covered when not at the insured residence. In other words, they probably aren’t protected during a move.

If worldwide coverage isn’t included within a homeowners or renters policy, a moving policy could fill this gap. An experienced insurance agent can check whether a specific homeowners policy includes worldwide coverage.

How much do moving policies cost?

The premiums charged for moving policies can be quite affordable, especially because they typically only need to provide coverage for a day or maybe a week. Premiums do vary depending upon the specifics of a move, though.

Residents and businesses can work with an independent insurance agent to compare customized quotes from several insurance companies. This is one of the easiest ways to find out how much insuring a specific move will be.

How can people and businesses get moving insurance?

If you have an upcoming move, contact the independent insurance agents at Garrity Insurance for help finding coverage during your move. Whether you’re moving around the block, across Massachusetts, or relocating an entire business, we have the expertise necessary to help you find robust moving insurance that’ll keep your belongings protected.