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How Do Moving Companies Work with Insurance?

by Adrianna Rolfson
moving and storage Calgary

Learn how moving companies handle insurance to protect your belongings. Get insights into the types of coverage available and what you need to know for a safe move.

When planning a move, whether locally or using services like moving and storage Calgary for a long-distance relocation, it’s essential to understand how moving companies handle insurance. This knowledge can help you ensure your belongings are protected throughout the process. 

Let’s break down how moving companies work with insurance and what you need to know to keep your items safe.

1. Types of Moving Insurance

Moving companies typically offer several types of insurance coverage to protect your belongings. Here’s a look at the main options:

  • Basic Carrier Liability (Released Value Protection): This is the most basic level of coverage, often included at no extra cost. However, it offers minimal protection.
    • Coverage: Usually around $0.60 per pound per item.
    • Pros: No additional cost.
    • Cons: Limited compensation for lost or damaged items.
  • Full Value Protection: This is a more comprehensive coverage option, ensuring the moving company is liable for the replacement value of lost or damaged items.
    • Coverage: Covers repair, replacement, or cash settlement of damaged items.
    • Pros: More comprehensive protection.
    • Cons: Higher cost, typically based on a percentage of the item’s value.
  • Third-Party Insurance: You can also purchase additional insurance from third-party providers to supplement the coverage offered by the moving company.
    • Coverage: Varies based on the policy you choose.
    • Pros: Can provide higher coverage limits and more customization.
    • Cons: Additional cost and separate claim process.

Fact: According to the Federal Motor Carrier Safety Administration (FMCSA), moving companies must offer at least the Basic Carrier Liability coverage.

2. Understanding Your Coverage Needs

Assessing your coverage needs is crucial to ensure your belongings are adequately protected. Here’s how to determine what you need:

  • Inventory Your Items: Make a list of all the items you plan to move. Note their value and condition.
  • Evaluate Risks: Consider the distance of your move and the types of items you have. Long-distance moves and fragile or high-value items may require more coverage.
  • Consult with Your Mover: Discuss your inventory and concerns with your moving company. They can help you choose the right level of coverage.

Pro Tip: Always ask for a written copy of the insurance policy details from your moving company.

moving and storage Calgary

3. How to File a Claim

If an item is lost or damaged during the move, knowing how to file a claim is essential. Here’s a step-by-step guide:

  1. Document the Damage: Take photos of the damaged items and keep all related documents, such as receipts and inventory lists.
  2. Notify the Mover: Contact your moving company as soon as possible to report the damage or loss.
  3. Submit a Claim Form: Fill out the claim form provided by your moving company. Include all necessary documentation.
  4. Follow Up: Stay in touch with the moving company to track the progress of your claim.

Important: Most moving companies have a time limit for filing claims, typically within 30 to 90 days of the move.

4. Tips for Ensuring Adequate Coverage

To ensure your belongings are well-protected, follow these tips:

  • Read the Fine Print: Carefully review the terms and conditions of the insurance policy.
  • Ask Questions: Don’t hesitate to ask your mover for clarification on any details you don’t understand.
  • Consider High-Value Items Separately: For valuable items, you might need additional coverage or a specialized policy.
  • Keep an Inventory: A detailed inventory list can be invaluable if you need to file a claim.

Pro Tip: If you’re using a service like moving and storage Calgary, verify if their storage solutions also offer insurance coverage for your items.

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