Is Moving Truck Insurance Worth It?

You never know what’s going to happen on the road, especially when you’re hauling your entire life across town (or the country).

We know moving is stressful enough without adding the whole “insurance debate” to the mix.

But moving truck insurance is one of those things you don't realize you need until you're in a situation where you really do.

Think about it: You’re driving a big, bulky truck (that you've never driven before) filled with your precious belongings—sometimes hundreds or even thousands of dollars worth of stuff—and the thought of “what if something happens” starts creeping into your mind.

And that’s when you realize the importance of moving truck rental insurance.

According to a survey, about 70% of people who rented a moving truck didn’t buy insurance or opted for the minimum coverage.

And guess what? Many of them regretted it.

Without the proper coverage, you could be staring down a hefty repair bill, and no one has the time or energy for that.

So, is moving truck insurance worth it?

The short answer is—it depends, but let's break it down and give you the full idea so you can make a choice that’ll save you headaches later.

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What Exactly is Moving Truck Insurance?

To start, let’s discuss what moving truck insurance actually is.

When you rent a moving truck, the rental company usually offers you several types of insurance coverage options. These are designed to protect you, the truck, and your belongings while you’re using the truck for your move.

Now, you might be thinking: “I’ve got insurance on my car, so why should I pay for this?”

Well, regular car insurance typically doesn't cover rental trucks—especially the big ones you'll use for moving.

Rental trucks are larger, heavier, and more challenging to drive than your everyday sedan.

If you’ve never driven a moving truck before, things can get a little tricky. So, the rental company wants to make sure you’re covered if anything goes wrong.

 

Don't let insurance woes ruin your move! Check out the best moving company options to keep your relocation stress-free.

Types of Moving Truck Insurance You’ll Encounter

When you're at the rental counter, you might be offered several different types of insurance.

Limited Damage Waiver (LDW)

The Limited Damage Waiver is one of the most common options you'll see. This covers any damage to the truck itself while you’re driving it.

For example, if you accidentally scratch the side of the truck or bump into something, LDW will cover the repair costs.

However, LDW usually comes with a daily fee of $12 to $20 per day. 

But LDW doesn't cover everything. It may not cover the contents inside the truck or any damage caused by you driving under the influence, reckless driving, or in areas with restricted access.

Supplemental Liability Insurance (SLI)

Supplemental Liability Insurance is another option that’s usually offered. SLI covers third-party damages if you’re involved in an accident.

For instance, if you accidentally hit another vehicle, SLI will help cover the costs for the other party’s damages. It protects you if you’re found liable for injuries or damages to someone else’s property.

In some states, SLI is required by law, but it's an optional add-on in others. It can be especially useful for long-distance moves or if you're not entirely sure about the traffic conditions on your route.

Cargo Protection

If you’re hauling your valuables across the country (or even just across town), you might want to consider cargo protection.

This type of insurance covers your belongings inside the truck in case they’re damaged due to an accident, fire, or other mishaps during your move.

However, keep in mind that cargo protection doesn’t cover high-value items like electronics, jewelry, or important documents.

So, if you're moving some of your most prized possessions, you might need to make additional arrangements to insure them separately.

Personal Accident Insurance (PAI)

Personal Accident Insurance covers medical expenses for you and any passengers in the truck if you’re involved in an accident.

So, if you’re injured during your move, this can help cover things like hospital bills or ambulance fees.

If you already have health insurance, this might be redundant. But if you’re unsure about your current coverage or if your health plan has high deductibles, PAI can give you some peace of mind.

 

Still curious about the details of renting a moving truck? Check out our guide on Moving Truck Rental to get all the info you need before hitting the road.

Do You Really Need Moving Truck Insurance?

Now for the big question: Do you need to buy moving truck insurance? 

Well, the answer isn’t as simple as yes or no.

It really depends on your situation.

Driving Experience and Confidence

If you’ve driven a moving truck before, you might feel confident about navigating it without causing damage.

If you’re moving locally, you may feel that the risk of something going wrong is low. In this case, you might decide to skip the insurance and take your chances.

However, if you’ve never driven a moving truck or you're nervous about its size, then getting coverage is definitely a good idea.

Distance of the Move

If you’re just going a short distance, you may feel that you can manage the risks without insurance.

But if you’re making a long-distance move, things get trickier.

The longer you’re on the road, the higher the chance something could go wrong.

In this case, it’s usually worth getting extra coverage. You'll have peace of mind knowing that you're protected in case of accidents, road hazards, or other issues.

Value of Your Belongings

If you are moving a bunch of old furniture from IKEA, you may not be as concerned about cargo protection.

But if you’re moving valuable or sentimental items, like an expensive television or a family heirloom, it's a good idea to insure them.

Cargo protection can help cover the costs of damage to your belongings while in transit.

Existing Coverage

Before you rent the truck, reach out to your current auto insurance provider to check if moving truck rental insurance is already covered.

In some cases, your personal auto policy may extend to rental trucks, especially if they’re not too large.

If you already have coverage, you might not need to purchase extra insurance at the rental counter.

Note: Not all personal insurance policies will cover rental trucks. In fact, most regular car insurance policies only cover passenger vehicles, not large trucks.

How Much Does Moving Truck Insurance Cost?

You're renting a truck and wondering, " How much extra will you have to pay for this insurance?”

Let’s break it down so you can be fully prepared for all those sneaky extra fees that tend to pop up.

What You’re Likely to Pay for Moving Truck Insurance:

Limited Damage Waiver (LDW)

Expect to pay anywhere from $12 to $20 per day for this coverage.

If you're renting a truck for a week, you might pay between $84 and $140 just for LDW.

Supplemental Liability Insurance (SLI)

You can expect to pay around $10 to $15 per day for this coverage.

If you’re renting a truck for 3 days, for example, that’s an extra $30 to $45. 

Cargo Protection

You can expect to pay around $10 to $20 per day.

So, for a week-long rental, you’re looking at $70 to $140 for this coverage.

But remember, not all moving truck insurance policies cover high-value items like jewelry or collectibles, so you might need separate coverage for those if they’re worth more than your average furniture.

Personal Accident Insurance (PAI)

PAI typically costs $2 to $5 per day.

Let's say you're renting for five days—PAI will cost you between $10 and $25.

But keep in mind that if you've got good health insurance, this might be an extra cost you don't need.

Extra Costs You Might Encounter

Not everything is cut and dry. Some rental companies might have additional fees for things like:

• Extra driver coverage: If you’re planning on having someone else drive the truck, there’s usually a small fee for adding extra drivers (usually around $10–$15 per day).
• Mileage fees: Some rental companies charge extra if you go over a certain mileage limit, especially on long-distance moves.
• Fuel costs: Most rental trucks require you to return them with a full tank of gas. If you're careless and return the truck with less fuel, you might have to pay a hefty refueling charge.
• Late return fees: If you’re running late (and we all know moving never goes as planned), you could get charged extra for the days you keep the truck beyond the agreed rental period.

Is Moving Truck Insurance Worth It?

So, after all that, is moving truck insurance worth it?

Here’s the bottom line: If you're moving a long distance, if you’re not familiar with driving a truck, or if you’re hauling valuable or fragile items, then yes, it’s worth it to invest in the insurance.

On the other hand, if you’re just moving locally, are confident with your driving skills, and your belongings aren’t irreplaceable, you might opt to skip the insurance.

 

Got questions? Find expert moving advice and tips to make your move a breeze!

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