You’re moving! Congratulations! You must be so excited…and probably pretty stressed, too. It’s understandable; you’re packing everything you own into boxes and carting them away to somewhere new. No matter how far you’ll be traveling, it’s important to make sure that you protect your move with an adequate insurance policy—once you arrive at your destination, all you want to do is unpack and decorate, not worry about how you’re going to replace your things that have been lost or destroyed.
Don’t allow yourself to get caught up in all the excitement and accidentally overlook your insurance needs to protect your move. Did you know that most homeowners or renters insurance policies do not offer the same full coverage you have at home once all of your stuff is in storage or in transit? If the movers drop a box and shatter all your dishes, or break your bedframe while taking it apart, your standard policy will not likely cover the damage. In cases where your possessions may be damaged during a move, or even other property damage, such as a wall being scraped in your new home by furniture being moved in, Special Perils Coverage will protect all those odds and ends, except for fragile items. For those items that are especially fragile, you may want to consider a special Floater Policy, depending on how many fragile possessions you have.
Generally speaking, movers will assume a small amount of liability, usually about $0.60/lb, which will be written into their contract. It is extremely unlikely that such a nominal amount of money will come close to covering any loss or damage. When you’re making plans, keep these points in mind to protect your move:
First and foremost, contact your Homeowners Insurance provider. You cannot transfer your current policy to your new home, so you’ll need to discuss the details of your new home, including its age, what it’s made of, its type of roof, and its square footage, so that you can secure a new policy. Also, some insurance companies are only licensed in certain states, so you may need to find a new provider. Fortunately, InsuranceQuoteOnline.com is just the place to go when you need a new insurance policy!
Insurance experts always recommend keeping a home inventory that lists all of your personal possessions. It seems like a lot of work to sift through everything you own just to catalog it all, but your move provides you with the perfect opportunity! As you pack everything away, keep a running list of everything you own. This will not only keep you organized, and help you when you unpack to keep like-things together, but if something is lost or damaged, you can consult your inventory list.
Really read your Homeowners Insurance policy, and take note of your deductibles and out-of-pocket expenses if you need to file a claim.
Verify how much your moving company is willing to pay for lost or damaged property. Be sure to note the maximum amount, both as a point of reference if you require it later, but also to determine which of your items are best left traveling with you because of their value. Also review the company’s levels of liability. Be sure to understand the types of protection that they offer, and the reimbursement to which you’ll be entitled should they damage or lose anything you own, and the fees associated with each level of liability coverage.
If you lease a trailer or truck for your move, consult your Personal Auto Insurance provider to see if your current policy will cover the temporary vehicle. If it doesn’t, the rental company can provide you with insurance coverage.
If something does wind up lost, damaged, or destroyed during your move, it’s important to report it immediately and file a claim with the moving company and/or your insurance provider.