A: Yes! We are fully insured with a) $20 million business liability insurance, b) ‘Carrier Goods in Transit’ (CGIT) insurance for $150,000 per load with a $500 excess, and c) comprehensive vehicle insurance on the trucks. Many cheaper “cowboy” operators won’t have some or all of this insurance – always ask when getting quotes!
The CGIT insurance bears some explaining. While it is in place to protect both us and you, it is more along the lines of ‘marine cargo total loss insurance’ (see “Should I purchase my own insurance?” below for an explanation of that) than standard household contents insurance, which are partial loss in nature) In that CGIT is primarily there for a pretty serious incident, such as the truck rolling over in an accident and smashing most things that can be smashed. In that case it would be indispensable, and that is why we carry it. It is not really there for a thing here or there that has been damaged or broken in transit, as the $500 excess is a good-sized barrier to making it worthwhile – remember insurance companies pay fair value, NOT replacement value…and it would only be claimable for things that are OUR fault. Things that you have packed in boxes are not our fault, nor is normal wear and tear on furniture, nor are items that we have advised you are probably too fragile to transport safely.
At the end of the day though, we load and blanket everything with extreme care (just look in the back of the truck as we are loading and you will see!), have never had to claim on the CGIT insurance, and have only 3 times had an item break that was our fault. In those 3 cases out of hundreds of jobs, we compensated the customer out of our pocket.