Cargo Insurance
Cargo insurance is a third-party insurance policy that protects against loss or damage to the goods being transported in a moving truck.
Reputable moving companies carry cargo insurance as a backstop to their valuation-coverage obligations to customers. Cargo insurance policies generally have higher claim limits than the released-value default, are issued by a licensed insurance carrier (not the mover itself), and respond when the mover is liable for damage in transit. Customers should ask any prospective mover for proof of cargo insurance, ideally via a Certificate of Insurance (COI).
Boston Best Rate Movers carries cargo insurance and workers' compensation on every move — Certificates of Insurance are available on request for building management or HOAs that require them.
Related Terms
Certificate of Insurance (COI)
A Certificate of Insurance, or COI, is a one-page document from a moving company's insurer confirming that the company holds active insurance coverage with specific policy limits and effective dates.
Valuation Coverage
Valuation coverage is the umbrella term for the mover's liability for loss or damage to a customer's belongings — it is not the same as insurance, even though it functions similarly.
Full-Value Protection
Full-value protection is moving insurance that reimburses the customer for the full repair or replacement cost of any item the mover damages or loses, minus any deductible.
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