Underwriters weigh five groups of facts about a moving company: the trucks and truck drivers, crew payroll, the goods and values it handles (including storage), its claims history, and how well it manages safety and contracts. A new owner also controls two things that change the result: the retentions chosen (deductibles and similar) and how the handover is presented. You can correct the data the seller submitted and tighten controls, but you cannot change past losses. This guide is for buyers building a post-closing budget. It explains what moves price, not what a mover pays.
The short answer
- Five groups of facts drive pricing, shown in the first eight rows of the table below: fleet and truck drivers, crew payroll and injury history, cargo and storage values, claims history, and safety and contract controls. The last two rows are choices you control: retentions and how you present management continuity.
- Premium data starts with the submission. A stale truck list, old payroll or a missing storage description can distort price in either direction, so fix the data before the first renewal.
- Crew injury experience matters. In 2024 the Bureau of Labor Statistics (BLS) reported 4.3 total recordable cases per 100 full-time workers for used household and office goods moving, against 2.3 for all private industry (a national survey estimate, not a forecast for any one company).
- You can influence frequency, data quality, retentions and controls. You cannot change past losses or the market, and you can change a class only by correcting a real error with records.
- Model the insurance line from a fresh quote for the business as you will run it, not from the seller's historical expense.
What do insurers look at when they price a moving company?
Each coverage line prices on its own exposure base. Auto looks at vehicles, drivers and how far the trucks travel. Workers' comp looks at payroll by class and the experience mod (a multiplier for past claims). Cargo and storage look at the values of goods handled. General liability and property look at operations, buildings and contents. Depending on the carrier, general liability may be rated on revenue or payroll and property on building and contents values, so keep both figures current. Loss history and controls adjust all of them. The table shows the cost drivers a mover can usually act on.
| Driver | Why it matters | What you can do |
|---|---|---|
| Trucks: count, weight rating, age, radius | Auto liability and physical damage are priced per vehicle, and heavier trucks and longer routes add exposure | Match the schedule to the trucks you actually run, remove sold units, and tell the carrier your real local and long-distance mix |
| Truck drivers (the people): records, experience, turnover | Motor vehicle records and experience affect eligibility and price | Check records before you hire, write down driver standards, and consider telematics |
| Crew payroll and class | Workers' comp premium is generally a rate per $100 of payroll in each class (state funds and some bureaus differ), then the mod | Keep payroll estimates current and records by job so classification is supportable |
| Crew injury history | Lifting, stair and ramp work are strain exposures, and the experience mod usually follows the business to you | Lifting training, return-to-work plans, prompt reporting |
| Cargo values and promises | Higher-value loads and a full value promise raise the limit you need | Know the value on a typical full truck and what customers declare |
| Storage: building, protection, contents | A warehouse holds many customers' goods in one place | Keep an inventory with declared values, and document fire protection and security |
| Claims history | Frequency and open claims affect pricing and willingness to quote | Obtain loss runs, close old files where possible, and explain what changed |
| Contracts and customer mix | Building and van line terms may ask for endorsements and, in some cases, higher limits, so read the ones you actually hold | Review the contracts you actually hold before the quote, not after |
| Retentions: deductibles and similar | A cargo or per-truck auto deductible changes premium and also what one bad week costs | Test each deductible against what the company can fund after a bad busy-season month |
| Management continuity | Underwriters may ask who runs dispatch, driver hiring and claims handling after the sale | Present the transition plan, and keep the people who know the crews and the building contacts where you can |
For deeper dives, see fleet telematics and driver standards, safety programs and premium credits and raising deductibles after an acquisition.
What does injury data say about crew risk?
Crews do heavy, repetitive lifting on stairs, ramps and tailgates, and truck drivers spend long hours on the road. The Bureau of Labor Statistics (BLS) describes the crew and driver occupations as having some of the highest injury rates of all occupations (occupation statements across all industries, not mover statistics). The workers' comp guide covers the claim types.
The industry table is closer. For 2024 the BLS reported these total recordable injury and illness rates per 100 full-time workers (national survey estimates, not a forecast for any one company):
| Industry group | Rate |
|---|---|
| Used household and office goods moving | 4.3 |
| Truck transportation | 2.9 |
| Warehousing and storage | 4.8 |
| All private industry | 2.3 |
Read it as a clue about why insurers ask about lifting, training and return-to-work, not as a verdict that moving is the most dangerous work. Warehousing was higher in the same table, and the survey carries margins of error. A mover with its own warehouse also does warehouse-type work, so both rows are a useful reference.
Which cost levers can you pull before the first renewal?
Some levers move with effort and some do not. Within your control: the accuracy of the submission, the controls you put in place, the retentions you pick and the contracts you agree to. Outside it: past losses, the experience mod you inherit (the rating organization decides how an ownership change affects it, and it generally follows the business), and market conditions. A class that is correct as assigned is not yours to change, though a real error can be corrected with records (see class code corrections). See also reviewing the experience mod for errors.
Four moves often matter most in the first months:
- Rebuild the submission. Current vehicle list with weight ratings, driver list, payroll by role, cargo values on a typical load, storage inventory and fire protection, and certificates the customers actually hold.
- Get the loss runs and read the open files. See how to read loss runs and closing old open claims.
- Document safety. Keep lifting and stair-carry training logs, driver record checks and incident reports. If the company runs powered industrial trucks such as forklifts, the federal Occupational Safety and Health Administration (OSHA) standard requires each operator to be trained and evaluated, with a performance evaluation at least every three years, so keep those records too.
- Tell the story. Underwriters respond to a clear plan. What underwriters want from new owners explains the questions to expect.
What does a stale submission look like?
A hypothetical example. A buyer closes on a mover whose last submission listed six trucks. The company now runs eight, after the seller added two in the final year. The payroll estimate matches the previous winter, before the buyer hired summer crews. The storage section says "small warehouse" and omits that goods are held for weeks. Two cargo claims from last season are still open.
At renewal the underwriter finds the gaps. Eight trucks, higher payroll and weeks-long storage all change the exposure the policies were priced on, and the two open claims raise questions. The buyer who rebuilt the submission before renewal gets one clean conversation: current numbers, the storage inventory, the status of the open files and a plan for lifting training. The buyer who did not may learn about the differences through an audit bill, a re-rate or a nonrenewal notice. The outcome depends on carrier underwriting, and a clean submission does not assure any price, but it removes avoidable surprises.
How should you budget insurance after the close?
A mover's payroll swings with the busy months, and so does the workers' comp base. Premium is built on total payroll for the policy period, so model workers' comp on projected annual payroll that includes the summer crews, and watch the timing of deposits and audit balances when payroll jumps. Cargo and storage exposure follows volume and the values on the floor, so size the cargo line against a full truck. Auto is priced per vehicle, so add the truck count of each add-on mover you buy.
A quality of earnings (QoE) report can restate the seller's insurance expense in the earnings before interest, taxes, depreciation and amortization (EBITDA) line, though not every report does, so ask your accountant or QoE provider. Budget from a quote that carries the truck count, busy-season payroll, storage values and filings you will actually have. See budgeting insurance in an acquisition model and insurance in a quality of earnings report.
The library's commercial auto cost and workers' comp cost guides explain how each line is priced in general. For the payroll side of a mover's budget, see workers' comp and payroll for a moving company, and for what the federal and state filings can add, see contracts, licenses and bonds.
Keep reading
- Just Bought a Moving Company? The Insurance to Check First
- Moving Company Workers' Comp: Class Codes, Peak Payroll, Past Claims
- Moving Company Contracts, Licenses and Bonds: What to Check Before Closing
- 12 Ways to Lower Premium After an Acquisition Without Cutting Coverage
- How Much Should Insurance Cost for the Business I Just Bought?
- All guides for new business owners
Frequently asked questions
How much does insurance cost for a moving company?
This guide does not give a figure, because a truck-heavy mover with storage and a lighter local mover can price very differently. What you can do is build the inputs (truck list with weight ratings, payroll by role, cargo values on a full load, storage inventory) and ask for quotes on the business as you will run it. A Morrow review can help you assemble that list and request quotes. Terms depend on carrier underwriting.
Does moving across state lines raise insurance cost?
It can. Longer routes can change how an insurer rates the trucks, and interstate household goods movers face federal filings, while a mover that stays in one state may instead face state rules, where the state has them. How much that moves price depends on the carrier and the exposure, so tell the insurer your actual local and long-distance mix.
Will the seller's claims history raise my premiums?
It can. Workers' comp history usually follows the business and shapes the experience mod, and loss runs for auto and cargo are part of what underwriters review. Reading the runs early and closing old files where possible gives you something concrete to discuss.
Can safety training lower what I pay?
It can help the conversation with underwriters and may support credits with some carriers, but results vary and no discount is assured. Training records, driver standards and return-to-work plans are practical evidence of how you manage risk.
Should I raise deductibles to cut cost?
Higher retentions can lower premium but move more losses onto your cash flow. Choose them against what the company can fund after a bad month, and discuss the trade-off with your broker. Quotes depend on carrier underwriting.
References
- BLS: Table 1, Incidence rates of nonfatal occupational injuries and illnesses by industry and case type, 2024
- BLS Occupational Outlook Handbook: Hand Laborers and Material Movers
- BLS Occupational Outlook Handbook: Delivery Truck Drivers and Driver/Sales Workers
- OSHA: 29 CFR 1910.178, Powered industrial trucks
- NCCI: ABCs of Experience Rating (2025)
- NCCI: Experience Rating Plan Manual, Item E-1411, as filed with the Texas Department of Insurance
Just bought a business? Get your insurance reviewed.
Send Morrow the declarations pages, loss runs and key contracts you inherited. Morrow can review them against the business you bought, flag gaps and request quotes where it makes sense. Any new terms depend on carrier underwriting.
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This article is general information, not legal, tax or financial advice, and not a coverage determination. Coverage depends on the actual policy wording, carrier underwriting, your purchase agreement and your contracts. Ask your attorney and accountant about deal and legal questions.