Movers Insurance from Massachusetts Specialists

What is Movers Insurance?

The moving business can be profitable work, but it’s work that comes with substantial risks. Damage to belongings, accidents and stolen goods are just a few of the perils that movers must protect against. Movers insurance won’t prevent these things from happening, but it may provide moving companies in Massachusetts with financial protection if there is a covered incident.

Movers insurance is specialized commercial insurance for moving companies. So that policies can meet these companies’ multiple protection needs, most policies are drafted as package policies that combine coverages together. Moving companies can often choose exactly what coverages get included in their policy.

What Massachusetts Businesses Should Have Moving Company Insurance?

In broad terms, any business that’s located in Massachusetts and offers moving services can likely benefit from having moving company insurance. Not having insurance can leave a business dangerously exposed to risk, and this tends to be the most appropriate type of commercial insurance for these businesses.

In particular, the following businesses may want to purchase this type of policy:

• Residential movers
• Commercial movers
• Specialty movers
• Moving and storage companies

Moreover, companies normally need insurance regardless of whether they provide local, regional or long-distance moving services. Any company that accepts responsibility for transporting customers’ goods could potentially have something happen.

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What Protections Are Available Through Moving Company Insurance Policies?

The coverages that any one moving company insurance policy provides can vary, but there are many protections that policies frequently make available. Some of the more common protections that many moving companies look for are:

• General Liability Coverage, which might cover common, basic accidents that result in property damage or injury to others
• Commercial Umbrella Coverage, which may provide supplemental liability protection in the event of an expensive lawsuit
• Commercial Property Coverage, which might cover a facility and equipment kept at the facility
• Commercial Auto Coverage, which may cover owned moving trucks and vans
• Inland Marine Coverage, which may cover equipment and supplies as they’re transported between locations

There are still more coverages that policies sometimes offer. An insurance agent who specializes in moving company insurance can help sort through all of the coverage options.

Do Moving Companies Need Workers Compensation?

Most Massachusetts businesses that have employees are required to carry workers compensation, and this is often an important protection even when it’s not legally mandated. The coverage normally insures against workplace injuries, which are certainly a real risk in the moving industry. Thus, the vast majority of moving companies need or should have workers compensation.

Whether workers compensation is included within a moving company policy depends on the particulars of that policy, however. The coverage might come as part of a policy, or it might be purchased separately as part of a standalone policy.

What Factors Affect Premiums for Moving Company Policies?

Insurers base moving company policies on a variety of details, and the following is only a glimpse of what can impact rates:

• The size of a moving company
• The number of employees a company has
• The location of a company’s facilities
• The region served by a company
• The types of vans and trucks a company uses
• The limits and coverages that a company chooses