What Damages Can Be Claimed with a Moving Insurance Policy?

Moving can be a stressful experience, and it's important to make sure that your belongings are properly insured. Your move is not automatically fully insured for the full value of your property against potential loss and damage. This summary is designed to help you choose the best option for you. In many cases, moving insurance may only cover catastrophic damage to your belongings.

Most policies don't cover damage to individual items, but if your belongings are in storage and the warehouse catches fire, or if the truck carrying all your personal items has an accident that destroys everything, you're probably covered. Keep in mind that if some of your personal items are damaged due to a typical breakage, such as a fall, your policy probably won't cover them. If you're defaulting on your homeowners or renters insurance policy, it definitely won't cover moving to a new home. Most homeowners insurance policies don't cover household items for moving.

You can read about both types of liability in the brochure Your Rights and Responsibilities When You Move, under federal regulations, that moving companies must provide when moving from one state to another. The details of what your moving insurance covers depend on your policy, but they can range from floods or fires to a moving company accidentally dropping your new high-end camera. All moving companies must offer two specific types of valuation to moving companies when they move across state lines. Your homeowners policy may or may not cover your belongings during a move or when they are in the moving truck. Review the moving company's insurance policy carefully to make sure you know how much coverage is available.

What Types of Damages Can Be Claimed?

If you have chosen the type of insurance for all types of risk-valued inventory and to properly insure your items at their full replacement value, you will need an assessed inventory form.

A hearing grant is a settlement resolution that applies to an insured item that presents some type of minor damage, that is still fully operational and that the insured customer prefers to receive a small compensation for it and keep the item. If you decide to move yourself, you won't have the benefits of coverage from a moving company if your belongings are damaged or broken. You can also take out insurance from third-party providers to cover any items that moving companies don't cover, such as high-value items. Rates vary depending on your type of insurance and also depending on the final destination of your household items, whether you're moving locally, out of state, or internationally. When it comes to understanding what type of damages can be claimed with a moving insurance policy, it's important to know what is covered by the policy and what isn't. Generally speaking, most policies will cover catastrophic damage such as floods or fires, but won't cover typical breakage such as falls or defaulting on homeowners or renters insurance policies.

It's also important to note that most homeowners insurance policies don't cover household items for moving either.

How To Ensure Your Belongings Are Properly Covered

To ensure that all of your belongings are properly covered during a move, it's best to review the moving company's insurance policy carefully and take out additional coverage from third-party providers if necessary.

Geoffrey Dilworth
Geoffrey Dilworth

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