Moving companies need to have the right insurance coverage to protect their business and customers. Mount Pleasant Movers, for example, should consider auto liability, cargo coverage, and workers' compensation. Automobile liability works the same way as it does in personal cars, providing coverage for bodily injury and property damage. Workers' compensation provides coverage for injured workers and is required in most states. The most comprehensive type of insurance for moving companies is general liability insurance.
This coverage protects your business from the liability associated with third-party claims for bodily injury, property damage, and personal and publicity injuries. If you choose basic coverage or discounted value protection from the moving company, it's usually free with your moving contract. If you decide to move yourself, your renters or homeowners insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck. If you apply for an insurance certificate from a moving company, you'll know what to expect during the transaction.
Some circumstances may limit the liability of the moving company and make buying moving insurance more attractive. The cost of moving insurance will depend on factors such as the value of your belongings and the type of coverage you choose. Because moving puts your belongings at risk of damage and theft, a moving insurance policy can help you reimburse any mishaps during the moving process. Some states license moving companies directly, including background check requirements, passing exams, and providing regulatory knowledge about the industry. Depending on the value of your belongings and how far away you are moving, it might be worth considering a moving insurance policy.
However, if you move to another state, moving companies are required by federal law to offer two types of coverage. While the moving company remains responsible for protecting the value released, which only covers up to 60 cents per pound, this additional insurance policy will cover the rest of the loss up to the limits of the policy. In that case, weather conditions are more likely to damage your belongings; a moving insurance policy can give you peace of mind. Lakeland Insurance's total replacement moving insurance coverage determines coverage based on a downloadable inventory list that you send. The cost of moving insurance from a third-party insurer can range from 1 to 5% of your valuation estimate.
To get coverage for your vans, trucks and other work vehicles on the go, look for commercial auto insurance. When you've decided to hire professionals for your next move, it's important to make sure they have the right insurance coverage. Auto liability, cargo coverage, workers' compensation, and general liability insurance are all essential types of coverage that any reputable moving company should have.