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Why do I need a moving company insurance policy?
As a moving company, you’re in the business of getting people from where they are to where they want to be. You relieve people of the heavy lifting associated with moving, and by the time you’re done, they’re in their new home with all their belongings. It’s a rewarding job, but it’s not without its risks.
From expensive family heirlooms and unwieldy furniture to rogue pets and children running underfoot, possessions and people can get hurt. You could be dealing with tight corners, narrow staircases, and shaky service elevators. There are a lot of moving parts, pun intended, in your line of work. There’s also a lot of opportunity for something to go wrong.
As part of your job, you and your crew visit clients’ homes and offices to pack up their belongings, load them onto your truck, and get them where they need to go. If one of you accidentally hurt someone or something during the process, you could be held liable.
Stress levels are already sky-high during a move. If someone’s unhappy with how the move went, they can become litigious.
This is why all moving companies need general liability insurance. General liability insurance protects moving companies from third-party claims of bodily injury, property damage, and personal and advertising injury.
Moving is a process prone to risk and injury. That’s why customers hire pros like you. But accidents can still happen. When they do, you want to be protected with Moving Company Insurance.
What is covered under the Moving Company Liability Insurance policy?
As a mover, you know how one small mistake can ruin a move. General liability insurance is designed to protect moving companies from liability in situations like the following:
3rd-party, non-employee bodily injury – If you accidentally injure someone during the move — whether it’s your client, one of their neighbors, or a random person walking by — you could be held liable.
3rd-party property damage – Property that’s not your client’s, but another third party’s, such as a landlord’s or neighbor’s, can get damaged during a move. If third-party property damage occurs while you’re on the clock, you could be held liable. To cover costs of loss or damage to your client’s property, consider bailee’s customer insurance, a special type of inland marine insurance.
Defense costs – If someone sues you for a claim arising out of a situation like one of the above, and you don’t have insurance, you’d be responsible for your own defense and legal costs. With insurance, your policy provides the claim investigation and defense of claims, even if the claim is false or frivolous.
The company I work for already carries business insurance. Do I need my own moving company insurance policy?
Yes. Your company’s insurance only applies to the work you do for them. It does not provide coverage for the work you, or your crew, perform for your own moving company.
Business insurance is an essential part of setting your moving company up for success. Without the right insurance, you’re simply not protected from the liabilities that can arise in your line of work — and the potentially massive costs associated with them. You would be responsible for finding your own attorney to defend yourself against the claim. Lawyers’ fees can add up quickly, even if you don’t end up going to court.
Moving Company insurance is the best way to protect your business. With this coverage in hand, your moving company is protected from the liability associated with third-party claims of bodily injury, property damage, and personal and advertising injury.
Are workplace injuries of my staff covered?
No. General liability insurance only provides coverage for injuries suffered by your clients and other third parties, not your staff covered by workers’ compensation laws. For your crew, consider workers’ compensation insurance. This type of insurance is required in almost every state. It protects you from liability if your employee gets hurt or ill on the job, and provides coverage for their medical expenses, lost wages, rehabilitation, disability, and death benefits.
Does Moving Company Insurance cover damage to my equipment?
No. General liability insurance only provides coverage for damage to property belonging to third parties. To protect your own equipment, consider inland marine insurance. For coverage on your moving vans, trucks, and other work vehicles, look into commercial auto insurance.