Find all School-related info fast with the new School-Specific MBA Forum

It is currently 04 Aug 2015, 08:45
GMAT Club Tests


GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

for You

we will pick new questions that match your level based on your Timer History

Your Progress

every week, we’ll send you an estimated GMAT score based on your performance


we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Moving insurance?

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Current Student
Joined: 26 Nov 2008
Posts: 76
Schools: Chicago Booth, Class of 2011
Followers: 1

Kudos [?]: 7 [0], given: 3

Moving insurance? [#permalink] New post 18 Jun 2009, 11:01
First, I realize there is a thread just a few spots below this that talks about movers, but right now I'm primarily interested on people's opinion about moving insurance. I have hired a moving company to move my items from SF to Chicago, and am currently investigating insurance for my items. Are there any caveats regarding insurance for the move? Any suggestions on the best insurance source? And is the insurance even worthwhile, given the deductibles and cost of insurance (i.e. a few hundred bucks for the insurance, plus a few hundred bucks for the deductible). I'd love to hear feedback from anyone who's recently grappled with these questions. Thanks!
1 KUDOS received
User avatar
Joined: 09 Dec 2008
Posts: 1221
Schools: Kellogg Class of 2011
Followers: 21

Kudos [?]: 240 [1] , given: 17

Re: Moving insurance? [#permalink] New post 18 Jun 2009, 14:10
This post received
FWIW, the sales agent for the moving company I'm using told me that moving insurance tends to be a ripoff. He said you should probably get a policy with a high ($1000+) deductible - which should cost maybe $100 - to cover you in case of possible catastrophic losses (i.e. truck blows up with all your stuff destroyed), but the extra cost of the lower deductibles generally are more than the value of damages. When a salesman tells me something his company is selling is a ripoff, I generally take him at his word.

That said, I'm not shipping much breakable items. If you're moving your priceless crystal and china collections, maybe more insurance is worth it.

GMAT Club Premium Membership - big benefits and savings

1 KUDOS received
Joined: 25 Apr 2005
Posts: 196
Followers: 6

Kudos [?]: 44 [1] , given: 2

Re: Moving insurance? [#permalink] New post 06 Jul 2009, 05:41
This post received
It's been a while but here's what I know. If you already have renters'/homeowners insurance, you're covered during the move unless you cancel it before you move. You usually don't even have to notify your insurer. Also, there is a small amount of movers insurance that is usually included with the basic move (something like $0.60/pound), with no deductible, which should cover you for some _small_ freak accident (typically during the move itself, not while your stuff is in the van). Third, you're never covered for whatever breaks inside your boxes if you packed them yourself, unless there are clear mishandling signs on the box itself. This means that if the box looks OK but everything's broken inside, you're not covered regardless of whether you took insurance.

So moral of the story -- you rarely actually need insurance, unless you don't currently have insurance at all (which would likely be much dumber than not taking movers insurance).
Current Student
User avatar
Joined: 09 Jun 2009
Posts: 182
Schools: Fuqua Class of 2012
Followers: 4

Kudos [?]: 53 [0], given: 21

Re: Moving insurance? [#permalink] New post 24 Jul 2009, 04:27
As a former mover myself (summer job in high school / college), I can verify that jerz and cabr are on the money with their advice. Yes, moving insurance is largely a ripoff and my boss always loved when customers bought insurance. However, as jerz pointed out, this is usually additional insurance and you get a base level depending on how big (usually by weight) your shipment is. That should be fine for most normal items, but you'll want to avoid (if possible) using the moving company for breakable items (china, glasses) or for highly valuable ones (guitars, Plasma TVs, Picassos, etc.).

If you MUST use the moving company for these things (if you're not driving a car to b-school or if you are moving a great distance), you may want to consider some extra insurance if not already covered by your homeowners insurance. At a minimum, just suck it up and pay the moving company to pack your breakables. As cabro stated, "you're never covered for whatever breaks inside your boxes if you packed them yourself". We called these boxes "PBO"s (packed by owner), and they were [strike]mis[/strike]handled appropriately ...
Re: Moving insurance?   [#permalink] 24 Jul 2009, 04:27
    Similar topics Author Replies Last post
1 Medical insurance options spideyeclipse27 3 18 Mar 2010, 11:32
14 Health insurance in the interim milias 33 10 Mar 2010, 10:25
1 Health Insurance tan888 5 28 Jan 2010, 23:18
Health Insurance pguard 1 28 Jul 2009, 09:21
Health and life insurance at schools hbs.aspirant 5 02 Dec 2007, 11:14
Display posts from previous: Sort by

Moving insurance?

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.