Is U-Haul Insurance Necessary?

Triston Martin

Mar 03, 2022

Moving presents a slew of difficulties. Driving a large, heavy, and unfamiliar moving vehicle can raise your risk of being involved in a car collision. You also face the danger of damaging or losing your personal belongings if you drive for a long period.

While driving a rented truck, you may not be covered by your vehicle or house insurance plans. But you'll likely require additional coverage. As a result, U-Haul offers a variety of insurance plans to safeguard both the equipment you rent and your possessions.

What Is U-Haul Insurance?

To rent one of U-cargo Haul's vans, moving trucks, pickup trucks, tow dollies, or vans, you can acquire insurance from the company. Different types of equipment require different levels of insurance coverage from U-Haul.

Even if you have a car insurance policy or a credit card, you're unlikely to be covered if you rent a vehicle used for transporting freight. To avoid paying out of your own money if you get into an accident while renting U-Haul equipment, you'll need to get insurance.

Medical costs coverage and damage waiver coverage, which pays for damages to the equipment you rent, are both included in U-moving Haul's insurance. However, other insurance packages from U-Haul also cover damage to your goods as a result of a collision, fire, or thunderstorm.

Not covered by U-Haul insurance

If your vehicle sustains damage while towing by your rental truck, you will not be covered by the U-Haul insurance policy. Not included if it isn't in the car.

There is no coverage for mechanical damage (i.e., transmission/drivetrain difficulties) caused by moving the truck back and forth if it becomes stuck in ice or mud under the Safe move policy. If you don't read the fine print, you may miss out on several exemptions specific to your state.

Does My Automobile Insurance Cover a U-Haul?

U-Haul rental truck coverage is typically not included in most standard vehicle insurance policies. Alternatively, if you have insurance that covers rental trucks, there are usually size limitations that a U-Haul is likely to exceed. When it comes to purchasing automobile insurance, we can assist you with the process.

Without in-house U-Haul insurance, you are normally responsible for any damages to your rented truck (which does not include your rental payments). Additionally, credit card-provided rental car insurance does not cover rental trucks.

Is this insurance lingo making your head spin? There's a detailed explanation of how vehicle insurance works in this section.

What are the benefits of purchasing U-Haul insurance?

The pros of U-Haul insurance should be considered before you decide whether or not to purchase it:

Larger vehicles, such as moving trucks, might be challenging to operate if you have no prior experience. If you don't plan on taking wider curves and slowing down more gradually than you would in your ordinary vehicle, you run the risk of getting into an accident.
It is obvious that the cost of insurance is significantly lower than the expense of an accident. In the event of an accident, you could be liable for thousands of dollars in damages.
Your ordinary auto coverage may not cover the full extent of your losses if an accident occurs while using a U-Haul truck. Cars that weigh more than 9,000 pounds or carry more than 2,200 pounds are often excluded from many insurance policies.
Many types of damages are covered. If the rental truck is damaged in a collision, fire, or overturn, your items are covered by Safe move’s comprehensive insurance policy. Medical expenses and the loss of life of you or your passengers are also covered. In addition, Safe move Plus includes a $1 million policy for third-party property damage, lawsuits, and bodily injury. For Safe move Plus, the deposit and rental fees must be paid by credit card.

What are the Drawbacks of U-Haul Insurance?

Let's take a look at some of the disadvantages of purchasing U-Haul insurance:

If you're a seasoned driver, you may not require it, making it a waste of money at a time when you're already strapped for cash.
a paltry sum to pay for peace of mind when moving everything in one day, but if you're taking multiple days (like when moving across the country), the cost of U-Haul insurance can quickly add up. Preparation is key, as you should only need the insurance for a few days at most.
The great majority of people who rent U-Haul vehicles will not be involved in an accident. As a result, they'll make a profit even if they don't have to pay out any claims.
There is no guarantee that you won't end up needing anything; therefore, it's hard to justify spending money on something that you won't use.
Your current insurance carrier may cover you, or you may be able to buy a one-time policy with them to insure yourself. It's worth a phone call to determine if your insurance company would cover you and how much it will cost. Some insurance providers may be able to provide you with coverage at a lower cost.