What Liability Insurance Do Small Moving Companies Have?

Small moving companies are required to carry liability insurance by the laws of the state they operate in. Each state will set minimum insurance requirements. You should look for a company that is licensed, bonded and insured in order to know your company meets state requirements.

Moving Liability Insurance

A moving company is exposed to two primary risks with liability: first, there may be losses due to damage of your property; second, the moving company may damage other property or persons in the process of moving. In both cases, the claim could be too high for the company to cover. Paying regular insurance premiums will cover those claims in part or in full to reduce the burden of one large expense on the company.

Moving Companies without Insurance

If you work with a moving company without insurance, you could be held responsible for all damages. This means you would have to pay for any accidents the company has that result in damages to your property. The greater risk, usually, is damage to another person's property. You have the choice not to spend money replacing your items. However, when a moving company damages someone else's property or injures another person, you have no choice but to pay. The cost can be limitless if the company injures another person.

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