Do You Need Rental Truck Insurance?: A Complete Guide

There are a lot of things to consider when you decide to move. First, you need to determine if you’ll move by yourself or if you’ll hire a professional moving company.

It’s common for people to choose to rent a truck and handle the move themselves. But one common issue that comes up when renting a moving truck is whether or not you need separate insurance on that truck.How you choose to handle insuring the rental truck could make a big difference if you end up in an accident or cause property damage to the truck.

Let’s explore everything you need to know about rental moving truck insurance, so you have the right coverage during your next move. But before we get started, here are a few links to help you navigate your move a little more easily:

  • Best Truck Rental Companies: Save time sifting through dozens of rental trucks, and know that you’re renting a truck from a reputable company on our list.
  • Moving Cost Calculator: Get a free, personalized, and instant estimate of your move. Just enter the date, size, and where you’re moving to/from, and we’ll tell you how much your move should cost.
  • Best Moving Companies: Avoid the labor and time it takes to move on your own by hiring verified and reputable moving companies.

Should I get insurance when renting a moving truck?

In a word, yes. You should always ask about insurance when renting a moving truck to cover damage and avoid personal financial responsibility for anything that may happen to the truck.  

It’s important to note that your personal car insurance policy does not apply to any vehicle that you rent. This means that if you get a rental car on vacation or a business trip, your personal auto policy does not cover this vehicle. The same goes for renting a moving truck. So, for this reason alone, you should get insurance when booking a truck rental or any rental vehicle for your move.

You can acquire auto insurance for a moving truck rental through the company renting you the truck. All you need to do is speak to the representative from the company about the types of liability coverage they offer to customers renting their moving trucks.

There will be various forms of policies available, which will range in coverage amounts and costs based on the distance of the move.

You can also check if your homeowner’s insurance will also cover truck rental. Sometimes, your homeowner’s insurance policy has coverage for things like moving or rental trucks, so it is worth checking.

Alternatively, your credit card may also have specific policies in place when it comes to rental insurance. Check with your credit card company to see if you can qualify for any discounts or if they include any coverage for rental vehicles or rental equipment for cardholders.

How much is insurance on a rental truck?

Depending on the liability limits you choose, rental truck insurance can cost anywhere from $14 to $30 a day or more. The policy might also require a deductible if you have to file a claim for an accident or another type of damage to the truck.

It’s understandable that you want to stay within your budget when moving, which is why you are doing it yourself. But, don’t cause yourself to take a loss because you skipped on truck rental insurance and don’t know how to operate a trailer in reverse, therefore causing an accident.

What type of insurance should I get for renting a truck?

There are a handful of different auto insurance policies you can choose from when renting a moving truck. These policies include the following:

  • Damage waiver: You’ll have protection from damage to a rental truck by choosing to purchase a damage waiver.
  • Supplemental liability insurance: This type of policy protects you when others cause damage in an accident.
  • Auto-tow protection: Are you going to tow your vehicle behind the moving truck while moving? If so, this type of policy protects you from auto damage while towing the car with the moving truck.
  • Personal accident and cargo protection: This policy will cover any injuries to you or your passengers during the move and damage caused to your belongings.

What if I don’t have insurance on my rental truck?

Depending on the truck rental company, you might be required to purchase auto insurance for the truck that protects it during the length of your move. If you don’t, the rental company might not authorize the rental. Check if there is an option to decline auto insurance for the rental truck, you are opening yourself up for financial losses.

If you sustain an injury in an accident, you might have to use your health insurance policy to cover your medical expenses, if this is even an option. Your personal auto policy might cover the damage to the truck, but this isn’t always the case. If it is not covered, you could be liable for the damages if the accident was your fault.

Don’t take the chance that your move will go smoothly without any accidents. It can be challenging to prove fault in an accident, which will make matters more complicated without insurance.

Truck Rental Insurance Options

Below, you will find three different truck rental companies and their insurance options.

Budget Truck Rental

Budget Truck Rental offers the following policies:

  • Roadside assistance
  • Supplemental liability insurance
  • Damage waivers
  • Auto tow protection
  • Personal and cargo

Penske Truck Rental

Penske Truck Rental provides customers with the following insurance coverage options:

  • Personal accident insurance
  • Limited damage waivers
  • Cargo insurance
  • Supplemental liability insurance
  • Towing insurance

U-Haul Truck Rental 

What does U-Haul insurance cover?

  • Safemove – this policy covers the rental truck and everything inside it (driver, passengers, and cargo). In addition, the company offers life and medical coverage, cargo coverage, and damage waivers.
  • Safemove Plus – this policy covers all of the above from the Safemove policy plus $1,000,000 in liability insurance for any damage caused to another person or property. This policy also provides customers with exclusion-free coverage on a damage waiver for any accidental damage caused to the rental truck.
  • Collision Damage Waiver – This is the only coverage you can acquire for pickup trucks and cargo vans rented by U-Haul. This waiver will cover damage after the first $150.

What are common moving truck accidents?

The most common moving truck accident is when the driver hits an overhead object with the truck. Most do-it-yourself movers are unfamiliar with operating trucks that are as large as moving trucks and vans—because of this, striking an overhead object is a common accident. You will most likely have coverage by any insurance policy purchased for the length of the truck rental.

Other common accidents involving moving trucks include those where the side view mirrors are ripped off, the tires suffer a flat or a blowout, and the truck’s rear suffers damage in an accident when backing up the vehicle. Most rental truck drivers are inexperienced and make mistakes.

Don’t let a mistake cost you thousands of dollars out of your own pocket when insurance is available for your rental truck.

Will my auto insurance policy cover a rental truck?

The only way to know this for sure is to talk to your insurance agent to check. Most of the time, your personal policy does not cover the rental of moving trucks.

While you’re calling them, it’s also a good time to remind them that you are moving.

Moving to a new state means you will need to inform your car insurance company about the move. Be sure to tell the company the following information:

  • Provide the insurance company with your new address
  • Make sure the insurance company is licensed to provide insurance to clients in your new state of residence
  • Make sure your policy limits comply with the state laws where you live
  • Do not cancel an old auto insurance policy until a new policy is in place to avoid a gap in coverage, which can affect customer loyalty discounts
  • Check for discounts with your insurance agent if your move involves getting married or buying a home (you might be able to lump policies into a bundle)

As you can see, rental truck insurance is essential no matter the length of your move. Even if you need to rent a moving truck for just a couple of hours on a Saturday, the cost of the insurance is worth protecting yourself from lawsuits, paying medical expenses, and being responsible for damage caused in an accident.

Purchasing a limited damage waiver, personal accident insurance, cargo insurance, medical coverage, or rental truck insurance will provide you with peace of mind.

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