Does My Car Insurance Cover a Moving Van?

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444513598_f8bb59db1a_zThe idea of moving to a new town, state or house can be exciting. New experiences await you. However, the actual moving is often quite stressful and expensive. If you’re the one going to be behind the wheel of the moving truck, you can expect your anxiety levels to be even higher come moving day.

While we’d all like to have an uneventful moving day, accidents can happen. Thus, it’s a good idea to get covered in case of an unfortunate happening.

Are You Covered?

If you’re not, browsing auto insurance quotes comparison sites is the first step in finding the best auto insurance for the fairest price. However, covered drivers often do not consider checking if their auto insurance will cover them when driving vehicles that are not registered under their names (e.g. a moving van). According to a 2012 survey by CardHub.com, more than 62 percent of consumers are unaware of whether their auto insurance policy provides coverage for rental cars.

If you’re moving the bulk of your property in a rental moving van, then you need to be sure that it’s protected. The following are some points to consider before your moving day.

Check Your Current Coverage

If you already have auto insurance, you should check with your insurance provider first. Do they provide coverage when driving vehicles that are not registered under your name? Some insurance providers will provide you with coverage for the rental truck.

You may also want to check with your credit card provider or personal insurance provider. Some credit card companies provide coverage for rental vehicles.

Consider the Size of the Vehicle

Many drivers make the mistake of assuming that they are covered when they confirm that their insurance policy includes coverage for rental vehicles. The National Association of Insurance Commissioners put out an alert warning these drivers against this assumption. According to the commission, the size of the vehicle matters.

Although your insurance policy covers rental vehicles, be sure to check what type and size of vehicles are included in the coverage. Call the insurance provider and confirm the size of vehicle that is covered in the policy. Rental moving trucks range between 10 and 26 feet.

Consider Supplemental Insurance

If your current insurance policy does not provide coverage for rental vehicles, consider taking supplemental coverage. There are various types of supplemental coverage. Consider taking out:

  • Liability protection

This type of protection covers you in case of an accident for which you can be held liable. This coverage offers protection in case you damage someone else’s property.

  • Personal effects

Auto insurance doesn’t provide coverage for your personal effects. In case of theft or an accident, you won’t be compensated for your personal belongings. It is therefore important to take out personal effects insurance to cover the valuable items that you’re moving.

Ask the Rental Company About Damage/Collision Waivers

Some rental companies will offer you collision damage waivers, personal damage waivers or damage waivers. With these policies, the company agrees not to hold you liable in the event that their rental car is stolen or damaged.

It’s important to read the fine print in the different types of waivers. You will typically be held responsible for a small percentage of the loss as stipulated in the policy if you choose a Limited Damage Waiver while a Personal Damage Waiver will ensure that you have zero liability.

The different waivers vary in cost and coverage. It is therefore important to fully understand the waiver you have chosen before renting the vehicle.

Bottom line: Don’t rent the moving truck until you’re fully covered. This will ease some of the anxiety associated with moving and avert a major crisis if the unfortunate should happen.

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