Relocation Insurance Group has introduced an all-new moving insurance product, dubbed Full Value Protection (FVP) Insurance.

According to the company, the newly launched product is designed to help interstate moving companies, which were required to adopt expanded Full Value Protection regulations, effective 15 May 2012.

Relocation Insurance Group CEO Gadi Binness said the new policy is unique, as it covers customer goods, simultaneously insuring the moving company.

"The FVP Insurance Policy saves moving companies time and shields them from the negative effects of household goods and cargo claims," Binness added.

The states' DOT, US DOT and STB requirements compliant policy includes desirable features, such as simple monthly billing with no annual premium and broad protection with deductibles as low as $500 and limits as high as $500,000.

Underwritten by Catlin Group, the FVP Insurance offers coverage of customer goods while they are still in carriers' possession.

Founded in 2003, Relocation Insurance Group is a property and casualty insurance agency specializing in the relocation industry, and is licensed in all 50 states.