Understanding Your Moving Protection Options
A common question customers ask is, “Do moving companies offer insurance?” The simple answer is no. Moving companies, including National Van Lines, do not sell moving insurance. However, we do provide protection plans to safeguard your belongings during transit. It’s essential to understand the difference between moving insurance and moving protection so you can make an informed decision.
What’s the Difference Between Moving Protection and Moving Insurance?
Moving Insurance
Moving insurance is a type of coverage you purchase from a third-party insurance provider. It typically offers comprehensive protection, including reimbursement for loss or damage beyond what movers cover under federal regulations. If you want full-value coverage, you must purchase a policy from an independent insurance company.
Moving Protection (Mover’s Liability)
Moving companies are required by the Federal Motor Carrier Safety Administration (FMCSA) to offer different levels of liability protection. These options include:
1. Released Value Protection (Basic Coverage – Free)
This is the standard coverage provided at no extra cost. Under this protection, the moving company assumes liability for no more than 60 cents per pound per item. This means if a 10-pound item worth $1,000 is damaged, the reimbursement would be just $6.
2. Full Value Protection (Enhanced Coverage – Additional Cost)
Full Value Protection (FVP) provides more comprehensive coverage. If an item is lost, damaged, or destroyed, the moving company may:
- Repair the item to its original condition,
- Replace it with a comparable item, or
- Offer a cash settlement based on the current market value.
This option requires an additional fee, and customers must declare the value of their shipment when selecting this plan.
3. Third-Party Moving Insurance
For those seeking full protection, third-party moving insurance is available. This type of insurance offers greater security for high-value goods. Many insurance providers specialize in covering moving-related damages, theft, or total loss.
How to Choose the Right Protection
When deciding on a protection plan, consider the following:
- Value of Your Items: If you’re transporting valuable goods like antiques or electronics, additional coverage may be necessary.
- Homeowner’s or Renter’s Insurance: Some policies cover goods in transit. Check with your insurance provider.
- Terms & Exclusions: Each coverage option has its own limitations. Be sure to read the details before choosing a plan.
Final Thoughts
National Van Lines does not offer moving insurance, but we provide essential protection options, including Released Value Protection and Full Value Protection. If you require additional coverage, third-party moving insurance is a great option. Understanding your choices helps ensure a stress-free moving experience.
For more information, visit the FMCSA Protect Your Move website to learn about your rights and responsibilities when hiring a moving company.
