Rating 4.6

What You Need to Know About Moving Insurance in Colorado Springs

There are some important key factors that you need to consider when you are moving. First, you need to find a moving company that fits everything you are looking for. Second, you need to make sure your home is ready for the move. Third, think about different moving insurance options. You might ask yourself “Do I really need moving insurance?” If you aren’t even sure what moving insurance is, our Colorado Springs movers have gone in-depth about what you need to know regarding moving insurance.

What Is Moving Insurance?

To begin, we should probably explain what moving insurance truly is because its not what you may be thinking when you hear the term insurance. Moving Insurance is there to offer you protection in case something happens to your belongings in the moving process. “Technically, moving companies can’t sell insurance, but under federal law they are required to provide valuation options.”1

So, what are these value options? Well, there are technically three kinds. There is the full value protection, released value protection, and a third-party insurance policy. But the two main ones to focus on are full-value and released value.

Full-Value Protection

Full Value Protection is regulated by state law. This coverage is an additional expense, but it’s recommended because, in the event that some of your belongings are damaged, your moving company is responsible for repairing the item, replacing it with a comparable item, or a cash reimbursement for the current market value of the item(s) that was damaged or lost during the move. Even when you have the full value protection, it’s important to discuss the details with your moving company beforehand. Each moving company is different and before you decide on which plan to go with, it is always better to know what your moving company offers.

Released Value Protection

As with the full value protection, the released value protection is also regulated by state law, but it is cheaper when compared to the full-value protection, but the moving company is not liable for as muchu of the cost. “Under this option, the mover assumes liability for no more than 60 cents per pound per article. For example, if your mover lost or damaged a 10-pound stereo component valued at $1,000, you would only receive $6.00 in compensation (60 cents x 10 pounds).”2 According the FMCSA, under this act you must sign a specific bill or contract agreeing to this protection.

Third Party Protection

The last option is known as third party insurance because it is separate from a moving company’s valuation coverage. The problem with this option is that it is not offered by most moving companies and has to be purchased completely by you. “If you purchase this coverage, the mover remains liable for the amount up to 60 cents per pound per article; but the rest of the loss is recoverable from the insurance company up to the amount of insurance you purchased. Your mover is required to issue the policy or other written record of the purchase and provide you with a copy at the time of purchase.”2

Discuss Options with Your Moving Company

Our Colorado Springs moving company will be more then glad to discuss moving insurance policies we have here at All My Sons Moving & Storage. Call today to speak to one of our local movers in Colorado Springs and to learn more about the other types of moving services we offer here.


1. Move – Do I Need Moving Insurance

2. FMCSA – Understanding Valuation and Insurance