Most people don’t think to buy moving insurance because they’re under the impression that their moving company automatically covers items that are damaged or destroyed during the move. The fact is moving companies don’t provide moving insurance, they only provide “valuation” coverage which is not the same.
Valuation coverage is a predetermined limit of liability in case of damage or destruction of goods. This type of coverage typically comes automatically with a moving contract at no extra cost. But this type of coverage usually has no relationship to the actual value of your goods. In most cases, the moving company is only liable based on the weight of the items and not on their actual value.
Most moving companies are willing to sell you additional insurance, but it is in your best interest to check with your own insurance agent to understand all of your options.
Your insurance agent can help you determine if you need more moving insurance and offer you advice as to which companies have the best coverage.