What Types of Insurance Cover Both Moving and Long-Term Storage?

This article discusses the best insurance options for protecting your belongings during a move involving long-term storage with a moving and storage company.

Moving to a new home can be stressful enough without having to worry about potential damage to your possessions.

When long-term storage is involved, having the proper moving and storage company insurance becomes even more critical.

Choosing inadequate coverage could leave you footing huge bills if items become lost, stolen, or harmed.

This guide examines the key types of insurance available to handle residential moves incorporating temporary storage.

Overview of Moving Insurance Options

Several common moving insurance choices can shield goods in transit and storage:

• Moving the company’s basic liability coverage
• Third-party insurance providers
• Renters or homeowners insurance

We’ll analyze the particulars of each to assist you in picking the best solution.

Moving Company Liability

When booking a move, movers include some degree of accountability for the valuables they transport. However, the protection is generally quite limited.

• Covers only $0.60 per pound of damaged or lost items
• Numerous common exclusions like electronics, currency, jewelry

For a long-distance move with storage, such narrow coverage won’t suffice. We advise upgrading to full-value security described below.

Third-Party Insurance Providers

Specialized insurers like MovingInsurance.com partner with moving firms to offer enhanced coverage for household moves.

• “All-risk” policies guarding virtually all possessions
• Coverage often up to $1 million
• Low deductibles starting from just $250
• Option for storage-only plans

Drawbacks include reliance on the mover’s paperwork for claims and short policy periods.

Renters or Home Insurance

Existing renter’s or homeowners’ policies sometimes provide sufficient protection.

• Typically caps coverage between $2,500-$15,000
• Deductibles of $500+
• Numerous household items excluded
• Policies ending when vacating property

Verify details with your insurer before assuming current arrangements will apply.

Long-term Storage Concerns

When putting goods into storage for an extended period, consider:

• Facility’s protections against theft, fire, water, weather damage
• Duration of storage and insurance timeline
• Getting appraisals for valuable items like art, collectibles

You’ll likely require dedicated coverage rather than relying on existing homeowner’s or renter’s insurance.

Recommended Long-Distance Move + Storage Insurance

For moves crossing state lines or international borders, third-party insurance can provide the most versatile and customizable protection.

Benefits include:

• Setting exact coverage limits for possessions
• Choosing from various deductibles
• Insuring goods in transit and storage
• Filing claims directly without mover mediation
• Maximizing replacement cost compensation
• No itemized lists are necessary

The simplicity and flexibility allow tailoring plans to precisely meet each customer’s needs.

What About Self Storage Insurance?

Renters insurance often falls short for non-moving storage purposes:

• Requires occupancy at a residence
• Limited durations of 12 months or less
• Low valuables coverage, frequently capped at $2,500

Self-storage sites might promote insurance policies with meager liability of ~$5,000. These warrant careful inspection given common limitations.

Alternatively, mini storage coverage from specialty insurers provides up to $500k and beyond in protection for storage unit contents.

Key Takeaways on Moving & Storage Insurance

• Verify details of any existing policies before assuming applicability for an upcoming move
• Compare the coverage of the mover’s basic liability plans to supplemental offerings
• For moves with temporary storage, secure third-party insurance allows unified protection
• Get quotes for specialized storage insurance for longer durations exceeding one year

By understanding exactly which policies shield household goods across moving transit, storage holds, and final delivery, clients can experience true peace of mind.