When you're relocating, it's essential to be aware of what your homeowners insurance covers and what it doesn't. Generally, renters and homeowners policies provide protection for your possessions while they are in your residence, in transit, or in storage facilities. However, they will not pay for damage caused to personal property while they are being handled by moving companies when physically packing or transporting the items. Under a standard homeowners policy, most personal property in transit is only safeguarded by the designated risk.
That means that if the driver loses control of your moving truck and it rolls over, causing real damage to most of your things in that truck, you'll usually be covered. Most insurance policies for renters and homeowners don't usually cover the cost of possessions damaged or lost due to a move. Since moving leaves your belongings exposed to a variety of potential problems, it might be worth taking a look at moving insurance. It's important to remember that, whether during a move or not, any property covered by home insurance will only be protected up to the limits of your policy. In that case, weather conditions are more likely to damage your belongings; a moving insurance policy can give you peace of mind. If you're relocating to another state, moving companies are required by federal law to offer two types of coverage.
It's also critical to understand that, whether you move or not, any property covered by homeowners insurance is only insured up to the limits of the policy. If you decide to move your belongings yourself, your homeowner's insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck. Depending on the value of your belongings and how far away you are moving, it might be worth considering a moving insurance policy. You may want to consult your insurance company to detail your current policy and ensure that your coverage is sufficient for your move and understand your options. Your home policy may or may not cover your possessions during a move or when you are in the process of moving.
The cost of moving insurance will depend on factors such as the value of your belongings and the type of coverage you choose. If you decide to purchase additional moving insurance through the moving company or a third-party provider, be sure to get the details of the coverage in writing and that you understand what it covers and what it excludes. In most cases, housing coverage will protect your personal belongings if they break during a move, both on the way from a secured location and when you move to it. Your home insurance policy may cover damage to personal belongings during a move under certain circumstances. If you decide to move yourself, your renters or homeowners insurance policy may cover your belongings if you transport them in your vehicle or in a rented car or truck.
Depending on the value of your belongings and how far away you are moving, it might be worth considering a moving insurance policy.