FLORIDA/TEXAS—As a professional Moving Company, you should provide well-trained workers who are both responsible, and good at their job. There should also be proper insurance in place to protect your customer's belongings. Your customers trust you their most beloved property, those they would not sell or toss at a time of relocation. It could be much cheaper and easier for them to leave one place with just their luggage, but everyone has memories, things they’ve worked hard to find or brought from unusual places, family heirlooms, children’s toys, security blankets, and so much more they just can’t leave without.
Moving companies face industry-specific risks on top of the standard small-business concerns, including:
- Employee injuries on the job.
- Client possessions damaged in transit.
- Road accidents involving your moving trucks.
- Schedule changes resulting in lost business.
As the owner of a moving company you can benefit from specialized small-business insurance coverage. Industry standards recommend that every small business should hold at least two basic forms of insurance: general liability insurance and business property insurance. Most insurers include these types of coverage under a business owner's policy, or BOP, and many include business interruption insurance as well.
But there are critical areas of insurance needed for moving companies anywhere in the United States including cargo coverage, automobile liability, and workers’ compensation. Cargo policies for moving companies offer coverage for personal belongings while in transit between the point of origin and the new location. Any furniture, household goods, white-glove items, and specialty products should receive a measure of protection through this insurance.
General liability insurance is another policy that reputable moving companies don’t hesitate to purchase because its coverage includes property damage, medical payments, legal defense, bodily injury, and court judgment. All very important to keep your business away from financial trouble caused by any of those risky situations.
Having an umbrella coverage is never a bad idea, it covers specific liability claims that aren’t covered under generalized coverage. For example; if a moving company faced a claim of $500,000 with $300,000 in general liability, the umbrella policy would cover the difference or gap. This insurance can also include items like privacy invasion, wrongful entry, and malicious prosecution.
Commercial vehicles must be insured as well. You’ll need commercial auto insurance to cover your truck or fleet of trucks. Liability coverage can cover injuries or damage to other vehicles if your company is deemed at fault for an accident, and most states require a minimum amount. Your company will most likely want to surpass the minimum amount to protect your commercial vehicles and your finances on the road.
Any moving company in the U.S. who wants to operate across state borders must apply for a USDOT number to use legally. Part of the application process requires proof of insurance, contact information for the process agent, and bonding information.
At Garzor Insurance we care about your business. Our experienced professionals are dedicated to providing commercial insurance, including BOP coverage and business general liability coverage in Florida as well as Texas, and now many other states across the U.S. If you also have questions about truck or other commercial vehicles insurance, or any other business insurance aspects, please do not hesitate to visit us online at Garzor Insurance, or you may want to call us directly at (321) 206-8035.
Diana Munoz, CRIS
Trucking - Transportation Specialist