Diversification: The Key to Survival in Today’s Moving Industry

The moving and storage industry is undergoing a significant shift. With traditional household goods moves on the decline, many business owners are finding themselves at a crossroads: adapt or risk closure.

Fortunately, movers are resilient and resourceful. Across the country, companies are diversifying their services to meet new demands and tap into fresh revenue streams. If you're a moving and storage business owner, now is the time to explore these opportunities and ensure you're protected as you grow.

New Avenues Movers Are Exploring

Here are seven ways moving companies are expanding their operations:

1. Senior Move Management: Helping older adults downsize, relocate, or transition into assisted living with care and sensitivity.
2. Valet Storage: Offering pick-up, storage, and delivery services for customers who want convenience without the hassle.
3. FF&E Projects: Handling furniture, fixtures, and equipment (FF&E) installations for hotels, offices, and commercial spaces.
4. Last-Mile Delivery: Partnering with retailers and logistics firms to deliver goods directly to customers’ doors.
5. Interior Designer Partnerships: Receiving, storing, and delivering high-end furniture on behalf of designers when clients are ready.
6. Restoration Pack-Outs: Assisting restoration companies by packing and storing items from homes affected by fire, flood, or other disasters.
7. Junk Removal Services: Providing clean-out and disposal services for residential and commercial clients.

These services could help fill the gap left by fewer household moves and position your company as a versatile, full-service provider.

Don’t Diversify Without Protection

As exciting as diversification can be, it also introduces new risks. Each of these services comes with its own set of liabilities, regulatory requirements, and insurance needs. For example:

• Valet storage may require warehouse legal liability coverage.
• Last-mile delivery could expose you to cargo damage or auto liability claims.
• FF&E projects often involve high-value items and tight deadlines—errors and omissions coverage may be essential.
• Junk removal might require environmental liability or specialized equipment insurance.

Before you launch a new service, it is critical to speak with your insurance agent. Aegis Insurance Services, Powered by Hylant, specializes in helping moving and storage companies navigate these complexities. We help ensure that your coverage matches your operations so you can grow with confidence.

Ready to Diversify? Let’s Talk.

Whether you're exploring new services or expanding, ensure your insurance program keeps pace. Contact a team member to review your coverage and protect your future.

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The above information does not constitute advice. Always contact your insurance broker or trusted advisor for insurance-related questions.