Insurance isn't the first concern for most people when they move, but it should be at the top of your list.
Here are the insurance considerations you should be mindful of if and when you move.
Insurance Won't Automatically Follow You When You Move
That's because a homeowners or renters insurance policy takes into account factors such as:
- The building material used to construct your home
- Fire prevention systems, like smoke detectors, sprinklers, etc.
Moving means these factors and associated risks change. This means your insurance should, too! Luckily, your Trusted Choice ® independent insurance agent can help.
Is My Stuff Covered During the Move?
Whether or not you're covered during your move depends on a number of factors, including:
- Whether you're moving the items yourself or hire movers
- Where you're moving to (interstate vs. intrastate)
Moving Companies and Interstate Insurance Coverage
If you hire a moving company and are moving to a different state, that company - under federal law - is liable for the replacement value of lost or damaged items. However, the company may offer different options for coverage, including full value or released value.
- Full value: More comprehensive coverage, but it may cost more out of pocket
- Released value: No additional cost, but it may only cover your belongings up to 60 cents on the dollar.
If you opt for full value, make sure you have an up-to-date estimated value for the belongings you’ll be moving.
Insurance When You're Moving Yourself
If you’re renting a truck or van to move yourself, the rental company may offer you coverage. If something goes wrong and can be covered by the rental policy, a loss will not reflect on your own insurance coverage. However, the coverage they offer may not be enough to replace or repair damaged or lost items.
Talk to your independent agent about how your existing coverage would respond to a loss.
Don't Allow a Gap Between Policies at Your Old Home and New Home
You have coverage for the contents of your home under your current homeowners or renters insurance policy. The best option to protect your possessions during the move is to eliminate any gap in coverage between your existing and new policy.
One way to do this is to have the new policy start the day you are planning on moving. Not only would this help provide coverage for your contents, but it would also provide you with personal liability coverage during the time of the move.
Get the Best Coverage Guaranteed
Independent agents work with multiple insurance companies to find you find the coverage that’s right for your new place and for getting you and your stuff there.
If you’re moving out of state, ask your insurance agent if they’re licensed in the state you’ll be moving to. If they aren’t, ask them if they are able to refer you to another agency, or use the "Find an Agent" locator for an independent agent in your new home town.