Whether you are moving across town or across the country; upsizing or downsizing; don’t forget to move your insurance policies. Be aware: Any move can affect your insurance. Before you move, give our agency a call. If you are staying in the area, we are happy to continue to be your professional, independent insurance agent. If you are moving to a state in which we don’t do business, we are happy to advise you on your insurance coverages.
Remember, your personal insurance coverages aren’t the only ones you need to consider when you move. If you are hiring movers, your homeowners or renters insurance most likely will provide coverage to possessions in transit. A standard homeowners or renters policy will cover your possessions for the full limit for 30 days, after which it drops to 10 percent of the amount, unless another insurance policy (in your new home) is in force. Check with us to determine how your policy will react if your belongings are lost or stolen along the way and to check your deductible before your policy will be activated. Generally, moving companies offer basic insurance coverage (per weight or lump-sum value). However, settling with a moving company can take time. To help facilitate the settlement, inspect your property for damage as it is moved into your new home and get the movers to sign off on any damage before they drive away. Additionally, if the movers are transporting your car, your personal auto policy should cover it while it’s in transit. Review your policy to make sure you have coverage for towing.
If you are lucky enough to have friends and family willing to lend a hand with your move, but not lucky enough to have a friend with a truck; you may need to rent one. Some personal auto policies provide coverage for a driver’s liability in a rented truck. Check your insurance policy for limits (e.g., the size of the truck). Rental truck companies also may offer to insure your possessions (similar to a moving company—per weight or lump-sum value).
Moving time is the perfect time to update your home inventory, which is a valuable resource should you need to file an insurance claim. As you are packing or unpacking, make a note of your possessions; take photos; record any serial numbers; and organize any receipts.
There are a lot of things to consider before you move. Let us take some of the worry out of the process by reviewing and updating your insurance coverages with you. Give us a call or stop in to see us. We may not help with the heavy lifting, but we can offer you peace of mind.