Rental Equipment Liability

• If a moving truck is damaged while it is in your possession, you are going to be held responsible for both the cost of repairing or replacing the truck and the rental value of the truck while it is not in service because of the damage you caused. Rental companies can charge you for the loss of service of the truck, whether or not it actually would have been rented out during the repair period, because it definitely cannot be rented while it is not usable. Rental truck and van companies often require you to carry company-specified minimum amounts of liability insurance strictly to cover the cost of repair and the loss of service.
  
  

Dual Coverage Considerations

• You also need to consider the value of your property along with the liability costs associated with the rental truck itself. Unless the property is already protected under a different insurance policy, taking out temporary insurance to cover it will protect you against severe losses int eh event of a fire, theft or other serious mishaps. Covering the cost of the rental truck is important, but protecting yourself against personal losses is a valuable asset as well.
  
  

Homeowners and Personal Property

• Homeowners and renters insurance policies typically include personal property coverage while the property is in transit. If your policy does provide coverage, verify that the amount of coverage is sufficient to pay for or replace the property if it is completely lost. Personal property is typically a percentage of your total homeowners policy, which may only total up to several thousand dollars. If you are moving property with a higher value, make sure that it is properly insured.
  
  

Adjusting Your Deductibles

• If you purchase insurance through the moving truck company, make sure that you check the deductibles. Having sufficient insurance coverage will not be helpful if the deductible is set too high, requiring you to pay more money out of pocket than you can realistically afford. Higher deductibles mean that you pay less for the coverage, but be careful not to price yourself out of the ability to make a claim when things go wrong.