Question 1

What is a common misconception about Commercial Auto for Moving Companies?

Accepted Answer

Movers using rental trucks think the rental coverage suffices. Most rental policies have minimal liability and exclude business use.

Question 2

What happens if moving companies don't have Commercial Auto?

Accepted Answer

Box truck rear-ends — $130K. Commercial auto pays.

Question 3

What is a common misconception about Workers' Compensation for Moving Companies?

Accepted Answer

Moving WC has high class rates due to lifting frequency.

Question 4

What happens if moving companies don't have Workers' Compensation?

Accepted Answer

Mover suffers herniated disc — $80K medical, surgery. WC pays.

Question 5

What is a common misconception about Inland Marine (Tools & Equipment) for Moving Companies?

Accepted Answer

Customers think their goods are 'fully insured.' Default released-value protection is $0.60 per pound — a $2,000 TV weighing 50 lbs is covered for $30 unless full-value purchased.

Question 6

What happens if moving companies don't have Inland Marine (Tools & Equipment)?

Accepted Answer

Truck fire destroys household goods. With full-value coverage purchased, claim pays $80K. Without it, default released-value pays $4K.

Question 7

What is a common misconception about General Liability for Moving Companies?

Accepted Answer

Property damage during moves is one of the most common claim types. Care/custody/control riders are essential.

Question 8

What happens if moving companies don't have General Liability?

Accepted Answer

Furniture move damages stair banister — $4K repair. GL with care/custody/control pays.

Question 9

What is a common misconception about Commercial Umbrella for Moving Companies?

Accepted Answer

Severe auto claims push past $1M.

Question 10

What happens if moving companies don't have Commercial Umbrella?

Accepted Answer

Multi-vehicle accident hits $2.4M — umbrella covers excess.

Moving Companies Insurance Coverage Guide | RISKX