Hiring a moving truck for relocation is one of the best moving options to save costs.
But when you hire a moving truck, chances are you’ll have to drive the truck down to your new home or find someone to drive it. If anything happens to your household goods or the truck while in transit, you’d be expected to take full responsibility.
One easy way to make sure your household items are protected while in transit is to buy truck rental insurance.
So, I’ll suggest you weigh your options carefully. Because this is one of the key things you’ll have to consider before renting a moving truck.
Budget shouldnt be the only thing to consider when hiring movers. Other things are level of convenience, schedule & expertise #MovingTips
— MoverJunction.com (@MoverJunction) June 22, 2016
There are 5 different types of truck rental insurance coverage and each of them is important depending on your type of move. Let’s dig deeper to see the relevance of each.
Types Of Truck Rental Insurance Coverage
1. Towing Insurance
This truck rental insurance covers any damage to any vehicle you’re towing with your rental truck and the towing equipment.
2. Damage Waiver Insurance
This truck rental insurance specifically covers unintentional damage to the moving truck and its equipment as a result of vandalism, theft, or due to accidents.
3. Supplemental Liability Insurance
This truck rental insurance protects you from third party claims in the event of bodily harm or damage to personal property as a result of a collision with your rented truck.
4. Personal Accident (Medical) Insurance
This truck rental insurance provides medical coverage to whoever is driving the rental truck or van and sometimes passengers too in the event of any injury caused by accident. This coverage also covers loss of life too.
5. Cargo Coverage Insurance
This insurance provides protection for your goods as a result of loss or damage due to natural disaster or collision.
What You Ought To Know About Truck Rental Insurance
Can your auto insurance cover your truck rental?
It’s easy to assume that your auto insurance should cover the moving truck you’ve hired for your move.
But many car insurance policies do not cover vehicles that weigh above 9000 pounds including moving vans or trucks. Although, your credit card insurance will often cover a rental car, moving trucks and exotic vehicles are usually exempted from this protection.
Will you take turn driving the truck rental?
If you intend taking turn with someone else while driving the truck rental, ask your truck rental company about its insurance policies concerning such driving. More often than not, there is an extra fee per person to add another driver to insurance plans.
How much does truck rental insurance cost?
The extra cost of buying truck rental insurance can range from about $15 to $30 a day. But this cost is not exactly the same for all truck rental company. Your eventual cost would depend on the truck rental company you choose and the extent of the coverage you want.
While many truck rental companies provide different types of truck rental insurance based on your needs deductibles often apply as usual.
Are there any exclusions?
All insurance protections have exclusions. Incidents such as damaged or blown tires, collision with overhead objects, are usually not covered. Other exclusions are theft of personal items, damages caused by negligence or improper operation of the truck and auto theft.
You can get up to six free truck rental quotes so you can compare costs before hiring any truck rental company.