Household Goods Moving FAQ: How Does Household Moving Insurance Work?
Household moving companies, on the whole, do not offer what we typically would consider insurance. Instead, they offer what is called “valuation” and while it functions much the same way as insurance, it’s governed by a different set of rules than insurance is, and that usually means less coverage for your household goods while they are in transit or being loaded and unloaded.
Typically, valuation places a price-per-pound value on all your goods, and it is based at $0.60/pound. Therefore, if you’re shipping 10,000 pounds worth of stuff – which is quite a lot of stuff, much more than a standard 2-3 bedroom home would contain – the total valuation of your goods would be $6,000, as 10,000 x 0.60 = 6,000. Realistically, 10,000 pounds of household items is usually worth about $60,000, or roughly $10/pound.
When you speak to a household moving company and ask them if they offer insurance, they will most likely say “yes,” because valuation is technically a type of insurance even if it’s cheap and petty and doesn’t cover your items for their actual value.
This is why there are companies out there that provide separate moving insurance, and why more recent homeowner policies with certain insurance companies cover your items in the event of a move – but not all of them.
You should talk with your insurance agent about your homeowner’s policy to see if damage sustained during a household move is covered separately from the valuation that the moving company gave you.
Most moving companies today will offer a separate insurance package, which is generally an extra cost above your household moving price, to better cover the loss of your items in the event of a catastrophe.
Different companies offer different policies at different rates with different levels of protection, so it’s wise to speak to a live agent to get the best information you can regarding insuring your household goods. As mentioned, you can also do a quick web search for household moving insurance, and find independent insurance companies that can insure your goods during a move.
It’s up to you how you approach it, but something you definitely should do before anything is get a free household moving quote to get you started. You can do that right here on American Auto Shipping – just visit our household moving articles page and you’ll see our unique household goods moving quote request form. Just fill it out and get a free quote right away.
If you’re shipping a vehicle and need some household moving quotes on the side, you can get both at once via our free online auto transport quote request form, Just fill out the form and select the option to get a household moving quote as well. You can also contact us over the phone any time at 800-930-7417 to speak to a representative. They can give you a quote, advice, and much more.