The Best Moving Insurance Companies of 2023

Moving to a new home can be exciting but also a lot of work. After all, every personal possession has to be packed up and moved to the new residence, either by the owner or by professional movers. Because anything can happen along the way—a vehicle accident damages personal property, valuables fall off the back of a moving truck, items are stolen, and so on—it can be important to have the best moving insurance coverage to protect all belongings. And while homeowners or renters insurance may provide some coverage under certain circumstances, it may not provide coverage in all instances. Likewise, while moving companies are required to offer some coverage for interstate moves, it may not be sufficient for people who want to insure all of their belongings for their full value. Therefore, it may be worth reviewing all coverage options available from moving insurance companies so homeowners and renters can be assured they have the right insurance to best cover their belongings during a move.

1. BEST OVERALL: Baker International
2. RUNNER-UP: Relocation International Group
3. BEST RELOCATION SERVICES: UNIRISC
4. ALSO CONSIDER: Lakeland Insurance Services

What to Consider When Choosing One of the Best Moving Insurance Companies

The best moving insurance companies can provide the right type and amount of moving insurance coverage to adequately protect the full value of the owner’s belongings. They can also make it easy to get rate quotes on policies, file claims, and quickly settle claims. Since each moving insurance company can offer its own mix of benefits, it can be useful to compare insurance providers from a few different angles to fully understand what each one brings to the table and which company is the best fit. This way, anyone looking to protect their valuables and possessions during an upcoming move can rest easy knowing that they’re getting the right insurance coverage for moving.

Coverage Area

Moves may be from one neighborhood to another, across the state, or across the country—or even to an entirely new country. Therefore, it can be a good idea to find a third-party moving insurance company that provides coverage wherever the move takes the policyholder. When talking with each company, customers may want to find out what the coverage area is before asking any other questions. Some companies may only cover the area local to the company—a particular metropolitan area, for instance, while others provide nationwide coverage. If the company doesn’t cover the customer’s specific region, they can move on to the next company. Asking this question first can save customers a lot of time that otherwise would be wasted in the event the moving insurance provider doesn’t offer coverage for the specific moving route.

Coverage Type

Moving insurance is a bit different than homeowners and renters insurance. With homeowners and renters insurance, policyholders may be able to purchase trip transit insurance when moving items in personal vehicles or storing them in a separate facility. Special perils contents coverage may be available as well, which can help pay to replace broken items—except, notably, fragile items. In addition, an add-on to a homeowners or renters insurance policies could protect high-value items such as jewelry or artwork. Homeowners and renters insurance policies may not offer coverage when items are handled by interstate movers and other moving professionals, though, which can make a separate policy from one of the best moving insurance companies very valuable in the right circumstances.

The moving company may provide one of two types of coverage as well. The first is full-value protection, meaning the mover is responsible for the replacement value of the owner’s belongings. This coverage is available for an additional fee. Released-value protection is available at no cost, but it only pays out a maximum of 60 cents per pound per item. For example, a 30-pound table that cost $200 and was damaged in transit would net compensation of only $18. Purchased through a third-party insurance company, a separate liability coverage policy supplements the released-value protection coverage from the moving company. Regardless of what professional movers they use—whether it’s a regional outfit or one of the best military moving companies in the country—customers may want to review all of their moving insurance options to be sure they are adequately covered.

Individuals who are packing and moving their belongings themselves will need to reach out to a third-party insurance provider if they want to insure their possessions during their move. Even those who hire professional movers may want to do the same, though. Insurance companies that specialize in moving insurance may be able to offer more customizable policies to suit different situations. For instance, some companies may have insurance policies for moves where the customer packs everything themselves, loads their belongings into a vehicle, but then hires a third party to actually drive the vehicle and deliver its contents to the destination.

Coverage Amount

Third-party moving insurance policies can provide specific coverage amounts that supplement the released-value protection offered under the basic carrier liability in cases where professional movers are used. It can also help insure high-value items like jewelry or collectibles as well as provide coverage for perils not covered by the moving company’s standard protection coverage. Most companies offer a variety of coverage options to help policyholders get the right amount of coverage for their belongings. It can be important to find out what those coverage amounts are early on in the vetting process to ensure the company offers a sufficient amount to protect all of the policyholder’s belongings.

Insurance Rates

As with all insurance policies, moving insurance rates depend on a number of factors including the type and the amount of coverage purchased. If a customer chooses to get insurance directly through a moving company’s insurance provider, full-value protection may be the most expensive option available. Insurance companies typically charge insurance rates that are equivalent to 1 percent of the total value of the customer’s belongings. Released-value protection is typically included free of charge with moving companies, but as noted, it provides much less coverage if items are damaged, stolen, or lost during the move. For separate liability coverage through a moving insurance company, customers can expect to pay between 1 percent and 5 percent of the total value of their belongings. With so many options and price points to consider, it may be important to get rate quotes for each type of coverage in order to find the best policy at the most affordable rate.

Quote Process

Getting rate quotes is the best way to avoid overpaying for moving insurance. Many moving insurance companies offer quotes using an online rate tool wherein users enter some basic information about their move and their belongings, and the tool generates a quote in just a few minutes—or even less time. Many insurance companies also offer quotes by phone; in fact, talking to an agent may result in a more accurate quote because the agent can customize the quote by asking for more detailed information than a rate tool can. It may be a good idea to get a rate quote from at least three different companies for a good comparison.

Claims Process

Filing an insurance claim can be a real hassle as well as a time-consuming process when companies don’t provide a streamlined claims process. To make it as painless as possible, customers may want to look for moving insurance companies that make it easy to file a claim. Many insurance companies provide the ability to file a claim online through the company’s website. Others allow policyholders to file a claim by talking to an agent on the phone or sending the claim information by email. Prospective customers may want to find out how to file a claim, including what documentation is necessary, before purchasing a policy so that no time is wasted if a claim is required. This way, policyholders can get their claim funds as quickly as possible so they can replace any damaged, lost, or stolen items.

Deductibles

It can be important to understand insurance deductibles, how they work, and how they might impact a moving insurance policy. The deductible on an insurance policy is the amount the insurance company will deduct from the policyholder’s payout on an approved claim. For instance, if the claim is approved for $5,000 and the insurance deductible is $500, the company will pay $4,500 to the policyholder. Some moving insurance companies may set the deductible based on the amount of coverage purchased. The more coverage purchased, the higher the deductible could be. However, other companies, including those listed below, may give policyholders the ability to adjust their deductibles. It may be worth noting that choosing a lower deductible could lead to a higher premium and vice versa. With that in mind, anyone considering moving insurance may want to check with each insurance company to find out what deductible options are available.

Claim Settlement Time

When policyholders need to file a claim, the natural hope is that the claim will be processed quickly so they can repair or replace their damaged items and get their new home in order. For many moving insurance companies, the claim settlement time is within 30 days, but it’s important for customers to ask the insurance company about this before buying a policy. If the expected claim settlement time is more than 30 days, customers may want to check around to see if a moving insurance policy with better claims terms is available. Some moving insurance companies may also have claim settlement times that are much shorter than 30 days, which could be very appealing to customers. With that in mind, customers may want to make sure the claims settlement time is clearly stated in their policy terms. This could help prevent any delays or setbacks when a claim is filed.

AM Best Rating

When customers are shopping for moving insurance, it can be important to find an insurance company with solid financial strength that speaks to the company’s ability to provide reliable coverage and pay its claims. A key indicator of financial strength is the company’s AM Best rating. AM Best is a credit-rating agency specializing in the insurance industry that examines research and information on companies to determine their ability to meet their financial obligations. It issues a rating from A++ (Superior) to D (Poor); companies with an A++ rating are often the best choice because they provide peace of mind for policyholders that they are working with a reliable insurance provider. Companies with ratings of A and higher also could be good choices.

Our Top Picks

The best moving insurance companies can offer affordable insurance rates, a choice of deductibles, quick-and-easy claims processes, and other benefits. Each insurance provider can offer benefits and perks that may appeal to homeowners and renters who need to insure their belongings for an upcoming move.

Best Overall

Baker International

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Why It Made the Cut:

Baker International offers competitive insurance rates, low deductible options, free coverage for belongings placed into storage, the ability to submit claims over the phone, and a high AM Best rating.

Baker International can be an affordable choice for those moving, especially on a budget. The company’s rates tend to be competitive for third-party moving insurance, which could mean that customers will be able to get a good deal on moving insurance with Baker International. In addition, policyholders can choose a deductible as low as $250, which can help increase how much they receive in the event they file a claim on their moving insurance.

Claims can be filed both online and by phone, so customers can select the method that best suits their needs. Having the option to submit a claim over the phone may appeal to customers who want more hands-on support from a claims representative. Baker International also has an A++ rating, which can provide peace of mind for policyholders who look for financial stability and reliability when vetting insurance providers.

Although the company doesn’t offer coverage on items packed by the policyholder, it does offer free coverage for up to 90 days on items placed in storage. This free extra coverage could be beneficial for people moving to another area but may be living in a temporary home or those who don’t have space for all of their belongings right away.

Specs

• Coverage area: 48 states and Washington, D.C.
• Quote process: Online
• Claims process: Online, phone
• Deductibles: $250 to $1,000
• Claim settlement time: 30 days
• AM Best rating: A++

Pros

• Relatively low insurance rates
• Low deductibles ranging from $250 to $1,000
• Free 90-day coverage for belongings placed in storage
• Claims can be filed over the phone
• A++ AM Best rating

Cons

• No coverage available for customer-packed items

Runner-Up

Relocation Insurance Group

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Why It Made the Cut:

Relocation Insurance Group has a wide variety of moving insurance coverage types, several deductible options, a quick time frame for settling claims, and numerous customer-support options.

Relocation Insurance Group has several different types of moving insurance coverage for customers to purchase, including All Risk, Named Perils, Total Loss Only, Mobile Storage (customer packs contents and movers transport), and Truck Rental (customer packs and transports contents). Having all these options available allows customers to pick the type of coverage that best suits their circumstances.

While Relocation Insurance Group may have relatively high rates in some cases, it’s possible those rates could be lowered based on the type and amount of coverage a customer purchases. Plus, the company’s quick claim-settlement time could be worth any additional cost. The company’s site states claims are typically settled within 7 days of receiving a claim, which is very quick for moving insurance and could mean that policyholders are able to get their funds in short order.

Customers also have a variety of options for getting customer service and support, such as using the website’s online chat feature, calling representatives directly (including options for international calls), and using the site’s “Ask The Expert” feature. With so many ways to get assistance, customers should be able to get answers to any questions they have or work out any problems or concerns that arise.

Specs

• Coverage area: 50 states and Washington, D.C.
• Quote process: Online
• Claims process: Online
• Deductibles: $250 to $3,000
• Claim settlement time: 7 days
• AM Best rating: A

Pros

• Wide variety of coverage types available
• Quick 7-day claim settlement time frame
• Wide range of customer support options

Cons

• Relatively high insurance rates

Best Relocation Services

UNIRISC

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Why It Made the Cut:

UNIRISC specializes in relocation services, offering several forms of insurance that might appeal to people moving or relocating, as well as various extended coverage options.

UNIRISC specializes in relocation services, which could make it a good fit for people who are moving due to a job change. People in those circumstances may feel more comfortable using a moving insurance company that focuses on relocation services, as staff may be better equipped to answer questions or help customers navigate any tricky situations that may arise.

Given the lack of an online quote tool, it’s somewhat difficult to get a rate quote from UNIRISC. Additionally, there’s not a lot of detail on what its policies cover. However, the company offers other specialized forms of insurance that may appeal to people who are moving to a new home. These additional policies include vacant home insurance as well as global expatriate renters and living insurance for customers who are going overseas and need specialized insurance for international moves. Vacant home insurance can insure homes or dwellings that are temporarily unoccupied, either before or after a move. Global expatriate renters and living insurance can protect the policyholder’s personal belongings while living overseas, even when living in unstable regions.

Customers also can purchase enhancements that expand the scope of their moving insurance to cover more items or types of damage. These options may include coverage for mold and mildew as well as damage caused by insects or vermin, extreme temperatures, and mechanical or electrical derangement. Derangement in this case refers to damage to components that may not be evident through a visual assessment. This may be important coverage to have when moving sensitive machinery or electronics—computers or 3D printers, for instance—from one location to another. Having these extra options available can add more value to a moving insurance policy since it will be able to cover more types of damage.

Specs

• Coverage area: 50 states and Washington, D.C.
• Quote process: Phone
• Claims process: Online
• Deductibles: Unknown
• Claim settlement time: 28 to 30 days
• AM Best rating: A

Pros

• Specialty in relocation services and insurance
• Wide range of other insurance policies available
• Wide range of extended coverage enhancements available

Cons

• Limited coverage information available
• Online quote unavailable

Also Consider

Lakeland Insurance Services

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Why It Made the Cut:

Lakeland Insurance Services offers a wide variety of extra enhancements customers can purchase to expand the scope of their coverage, as well as a detailed and easy-to-use online quote tool.

In addition to its standard coverage, Lakeland Insurance Services offers extra enhancements to expand the scope of its insurance policy to cover more types of damage that wouldn’t typically be covered by moving insurance. For instance, customers can purchase additional coverage for mold, mildew, mechanical failure, and electrical failure. Appliances, computers, and televisions may all experience mechanical or electrical failure during a move, so this level of coverage may be very beneficial to anyone planning a move. These options give customers the chance to build out their policy as needed to more fully protect their belongings.

Some customers may be wary of Lakeland Insurance Services’ lack of an AM Best rating, but not having a rating is not the same as having a poor rating, and it does not necessarily mean that the company is experiencing financial instability. Customers may also want to note that the company does not offer the ability to file a claim through an online portal or dedicated account. Instead, policyholders have to file by email. This process should still give policyholders the opportunity to send images of damaged items, receipts, and any other documentation they may need to provide during the claims process. The company excels in other digital areas, though, as Lakeland Insurance Services maintains a streamlined online quote tool that is quick and easy to use, allowing customers to check the price of moving insurance and get an accurate quote in short order.

Specs

• Coverage area: 48 states and Washington, D.C.
• Quote process: Online
• Claims process: Email
• Deductibles: $500 to $2,500
• Claim settlement time: 30 days
• AM Best rating: Not rated

Pros

• Wide range of extended coverage enhancements available
• User-friendly and specifics-driven online quote process

Cons

• Not currently rated by AM Best
• No online claims process

Our Verdict

We chose Baker international as Best Overall because it checks a lot of boxes that customers may be looking for in a moving insurance company, including competitive insurance rates and low deductible options. We selected Relocation Insurance Group as our Runner-Up choice because it offers a range of options to address the needs of many customers, such as different coverage types and several deductible options.

How We Chose the Best Moving Insurance Companies

When determining the best moving insurance companies, we considered a variety of factors that might impact a customer’s decision. Coverage or service area was a top consideration, as it directly affects availability. The type of coverage available with each company was weighed as a key factor since customers may need a specific form of moving insurance to adequately protect their belongings, given the circumstances of their move.

Cost factors, including expected insurance rates and deductible options, also informed our rankings. Both the quote and claims processes were factors to consider as well given their impact on the customer experience. That includes claim settlement times and options for getting quotes and filing claims. Finally, our research looked at the AM Best rating of each company (when available) to get a sense of its financial stability and long-term outlook.

Before You Choose One of the Best Moving Insurance Companies

While purchasing moving insurance could provide much-needed protection, it’s important to do independent research to determine which insurance company best meets the needs of the customer. The insurance companies listed here are a good start to that research and may provide the best choice available, but it doesn’t hurt to check around with other insurance companies in the event there is a better fit. When doing so, it may help to refer to the criteria listed at the beginning of this article. Also, customers may want to ask friends, family members, and coworkers who obtained moving insurance about their experience and find out which insurance company they used.

Another factor to consider is whether homeowners or renters need separate moving insurance, particularly if they are using professional movers. The best moving companies will provide some coverage by default as well as other options at an additional cost. Also, it’s possible that a homeowner may be able to get a rider or endorsement from their existing insurance provider to cover their belongings during the move. If they have a policy with one of the best homeowners insurance companies, they may have that option available.

Cost of Opting for One of the Best Moving Insurance Companies

There are many hidden costs to moving, so homeowners and renters planning to relocate may want to take whatever steps they can to minimize those costs, including insurance rates. Although using one of the moving insurance companies listed here could be a cost-effective choice for many customers, it can depend on a number of factors. These include the type and amount of coverage, whether a customers pack their own belongings or leaves it to the movers, how far the move is, and whether commercial vehicles or personal vehicles are used for the move.

Getting rate quotes can provide customers with a good comparison of which insurance companies are the best choice for the desired coverage, so it can be worthwhile to get at least three quotes. Homeowners and renters planning a move may want to start with the companies listed here, but getting rate quotes from other moving insurance companies could also be a good idea.

The Advantages of Opting for One of the Best Moving Insurance Companies

When potential customers are researching the best moving insurance companies, the information here is a good place to start. After all, it provides a good picture of what each company offers, what its coverage area is, and what customers can expect regarding how long it takes to settle claims.

Moving insurance can offer peace of mind to individuals faced with the prospect of packing up all their earthly possessions and moving them to another location—sometimes on the other side of the country or even on the other side of the globe. Knowing that personal belongings are covered in the event they are damaged or lost can be a major source of relief during an already hectic and stressful time. The best moving insurance companies can offer even more perks and benefits for customers to consider, such as:

• Additional coverage for personal belongings that need to be placed in storage for a certain period of time after the move;
• A wide range of deductible options so customers can choose one that fits their budget, whether they prefer lower rates or a higher payout if they need to file a claim; and
• Speedy settlement times that can be as quick as 7 days, so customers won’t have to wait too long to receive their claim proceeds.

FAQs

Finding the best moving insurance company can be time-consuming and confusing, given all the different types of coverage to consider. However, it can be worth the time to conduct thorough research to ensure the chosen company will provide adequate protection. Here are some of the most common questions customers have when searching for the best moving insurance.

Q. Is moving covered by renters insurance?

Depending on the exact terms of the policy, renters insurance can cover belongings if the owner moves them on their own, but it typically does not cover damage if items are moved by professional movers.

Q. What does moving insurance cover?

While policy specifics vary, moving insurance generally covers damage to the customer’s belongings when in transit. Items that are damaged in storage may also be covered if the moving company owns or maintains the storage facility itself.

Q. What isn’t covered by moving insurance?

If obtained through the moving company, moving insurance may not cover items packed by the customer, items placed in a storage facility that the mover doesn’t control, and items damaged as a result of natural disasters. However, third-party moving insurance may cover these scenarios, so it can be worth getting separate coverage.

Q. Are moving companies responsible for any damage that occurs during a move?

Moving companies can be held responsible for accidental damage to a customer’s items, the property where they are collecting the items, and the property where they are delivering the items. Given the risks involved, especially for long-haul trips, it may be worthwhile for customers to use one of the best interstate moving companies so they can trust that their belongings are in good hands.

Q. Is moving insurance necessary?

Moving insurance provides peace of mind that the customer’s items will be repaired or replaced if they’re damaged during a move. As such, it may not strictly be necessary in all cases, but it can be very valuable in many situations.

Q. Can I get moving insurance for a DIY move?

Insurance companies that specialize in moving insurance can offer coverage for moves that the policyholder handles all on their own. This can be a great way for renters to insure their belongings when they move to a new apartment or rental home but don’t want to spend a lot of money on professional movers. There are many options to consider with a DIY move. For instance, renters or homeowners using truck rental companies may be able to get rental truck coverage that insures their belongings while they’re being transported in a rented vehicle.