Clark Allen opted to buy the additional insurance bundle when he rented a medium-sized moving truck to help his girlfriend move from Cambridge to a Boston suburb, and he’s sure glad he did.
“I needed to turn right around a corner that was fairly tight, and there was a car parked near the corner after the turn,” Allen said.
“I turned partway, backed up a little bit, and assumed by using the mirror that I’d cleared the parked car. But I really had not. I started to go and rubbed the rear, street side of the car near the corner. The truck was certainly drivable, just maybe some scrapes. The car got the worst of it.”
Luckily for Clark, the rental truck damage was minimal. But it’s not just your rental truck the insurance policy covers.
The additional coverage also covers property damage, including the damage your rental does to other cars, be they company pick-up trucks or personal vehicles.
Clark left a note on the car and filed a claim with the rental truck company.
“They did not give me any problems at all because I had the insurance,” Allen said, “I basically just had to tell them details about where and when it happened. Very simple.”
Clark Allen needs to rent a moving truck again soon and notes he will definitely purchase additional liability coverage again.
But what about the downsides? Moving is expensive enough. Liability limits, additional costs, and fees hidden from cost calculators on truck rental agencies’ websites can leave us asking if truck rental insurance coverage is the right move.
That’s why we’ve put together this handy guide. We’ll cover the basics of a rental truck insurance policy. We’ll dive into the types of coverages offered by truck rental companies and whether or not your personal insurance policy, renters, or homeowners insurance covers your rental in a truck accident.
Finally, we’ll also share some tips on finding cheap truck rentals with solid coverage using our handy SpareFoot Search Tool.
But first things first, let’s consider the extra expenses insurance adds when renting box trucks for moving.
1. Consider the Additional Cost
Whether you’re renting a truck for a household move or a DIY home improvement project, we recommend considering all of the rental truck costs together. These days, many companies, from the biggest moving-truck rental agency to your local ma and pops rental services, offer cost calculators on their websites.
While these tools are a decent place to start your research, we suggest contacting the truck rental agency directly and asking the following questions point blank:
- What is the total cost after including separate insurance coverage?
- Are there hidden fees, or does the rental company’s cost calculator show everything?
- Will my truck be guaranteed after I make the reservation?
Once you have all these details, we suggest getting similar quotes from all the available rental services in your area so you can compare quotes and get the cheapest deal.
Some companies will even lower their rates to try to get your business, especially when you’re moving outside of peak moving season.
2. Call Your Insurance Agent and Ask About Your Personal Policy
Before renting, call your insurance agent and ask whether your personal auto insurance policies cover a rental moving truck, and the items inside.
You can also ask your homeowners’ or renters’ insurance providers. In some cases, your belongings will be covered during transport. In others, they’re only covered inside the home or in your personal vehicle.
That said, even if your homeowner, renters, or auto insurance provider does cover your belongings, they might not always cover the damage you cause to other vehicles en route.
And even if you already have a comprehensive insurance policy that covers you, ask what size moving trucks the policy covers – insurance plans often have limits.
Auto insurance coverage may cover property damage to rental cars and credit cards. But a personal car insurance policy doesn’t typically cover property damage to rented moving trucks and trailers.
That’s why moving truck companies offer supplemental insurance.
However, not all additional insurance coverages offered by rental services are created equal…
3. Know the Types of Moving Truck Insurance, Rental Truck Insurance, and Physical Damage Waiver Options
There are four types of insurance and physical damage waiver options you can choose when renting a moving truck. Make sure you read your contract, ask questions, and understand all the details.
Insurance options may vary from carrier to carrier, so be sure to check your specific contract carefully. Here is an overview of what you can generally expect:
- Personal Damage Waiver (PDW) and Limited Damage Waiver(LDW). Physical damage waivers protect you via coverage for accidents, financial losses, and theft. It also absolves you from financial responsibility for any truck rental or towing trailer damage. The PDW has no deductible. In some cases, the LDW has up to a $500 deductible.
- Supplemental Liability Insurance (SLI). Supplemental liability insurance coverage protects you and your personal items. If you’re responsible for damage to another party’s personal property or vehicle, filing a property damage claim with an SLI typically covers up to $1 million in damages. Read the terms and conditions carefully, as this policy excludes some items.
- Personal Accident Insurance. Personal accident coverage allows you to file personal injury claims. That means that, in the case of an accident, personal accident insurance covers the costs of bodily injury and recovery. This plan also covers accidental death while in the rented vehicle and sometimes extends to other individuals riding in the truck.
- Cargo Protection. Renters can also add an additional cargo insurance option to insure their items in transit. Cargo accident insurance typically protects the value of items damaged by accidents or extreme weather. However, adding additional cargo coverage won’t always cover damage incurred from shifting cargo or burglary.
- Auto Tow Protection. Towing insurance policies cover the tow vehicle, trailer, or towing equipment. A good auto tow protection policy also covers any damage done by the vehicle in tow during transport. Towing insurance coverage often requires you to pay a deductible, so keep that in mind.
4. Inspect Your Truck Before You Go
Just like with any other rental vehicle, we always recommend inspecting your moving truck rental before you leave the lot. Ideally, you and the rental associate will walk around the truck together as part of a visual inspection.
Make a note of any scratches or dents, and have that recorded in the rental agreement paperwork. In many cases, the associate you’re talking to is aware of previous minor damage to the vehicle. And remember, there’s no harm in taking your own reference photos as well.
Am I Already Covered by My Personal Auto Policies?
Many renters mistakenly decline moving truck rental insurance because they believe they are fully covered by their existing auto insurance policy. While this may be true with a standard rental car, personal car insurance does not typically extend to moving truck rentals. Before declining Penske truck insurance or U-Haul rental truck insurance, confirm what your current auto insurance company will cover and won’t cover.
There is a chance that your items inside the moving truck are covered by your homeowners’ insurance coverage or renters insurance policy, so you may be able to skip the cargo coverage that protects against accidental damage.
Again, check with your insurance company to make sure you are covered under a number of scenarios. Even if you have coverage for damage, the types of coverage options provided by truck rental companies offer extra benefits.
How SpareFoot Can Help with Your Moving Truck Rental
The total cost of your rental truck varies depending on the size of the truck, the time of year you’re moving, and what insurance coverages you add on.
Most of these services use a combination of per-day and per-mile fees to calculate the final cost, meaning that once you get to your new home, you’ll want to unload your stuff and return any and all rentals asap.
But SpareFoot is here to help. Browse our cheap truck rental listings and storage deals and get your first month of storage FREE. And even if it takes longer than a month to get situated in the new pad, you can often rent a storage unit for a whole month for the same amount of money a truck rental costs for a single day!
Whether you’re looking for a moving truck rental or a cheap storage unit to unload your belongings into, we’ve got your back.
Our SpareFoot storage search tool makes finding ideal facilities for self-storage as easy as entering your zip code, filtering the options, and scrolling the results until you find exactly what you need.
Buying insurance for a moving truck is not a legal requirement. That said, personal insurance policies don’t typically cover moving truck rentals. We suggest contacting your personal auto policy provider and explicitly asking if your rental is covered and if there are any coverage gaps.
While coverages vary from member to member, AAA doesn’t typically cover moving truck rentals. We suggest contacting your local AAA office to verify the coverage included in your membership level.
While homeowners insurance may cover belongings inside a rental truck, it doesn’t always cover truck damage or liability. As always, we recommend checking your personal policy for specific details.
Moving truck insurance typically costs $15-30 per day, depending on the coverage type and truck rental company. There are different types of rental truck insurance coverage, but additional coverage options may increase the rental’s total cost.
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SpareFoot is the largest marketplace for storage, making it simpler to move and store your stuff. Our website lets you compare the most storage options nationwide and pick the best solution for your needs, whether it's traditional self-storage or full-service storage.
