How important is it that your movers be insured?

So, I have some movers who come highly recommended from a friend who has used them before.

His rate is really reasonable - $40 for him + $20 per helper, with a 2 hour minimum. I don't have a lot of stuff to move (I'm going to do some of it myself since I'm only going a short distance and have 1/2 month of overlap...I can do some of it with my car).

I don't really have anything too valuable to break ...

I have renters insurance on the place I'm leaving - not sure if that would cover an accident w. the movers.....

Anybody have any bad stories about needing insured movers?

Generally, insurance is a good idea.

If he himself isn't insured, is it possible to get insurance for the move itself?

And why isn't this guy insured anyway, if that's his business?