Moving Insurance – Homeowners insurance policies can be simply understood when determining covered items.
However, renters and homeowners are not only concerned about their valuable items within their walls but also within vehicle doors. Many movers question rather or not they are covered while they are on the move to a new home.
It is always recommended to review these details before you select the policy holder for the next home.
Insurance policies may vary depending on company and location.
According to Nationwide, “While your homeowners policy might cover damage to your belongings if that damage occurs in your home.” They also stated “in many cases it doesn’t cover damage that takes place while you’re moving items from one place to the next. Carefully read your insurance policy and then check in with your agent if you have questions.
If your policy does indicate that it includes coverage of moving and storage, you need to determine what that coverage means. In many cases, it may only cover catastrophic damage to your possessions. Most policies don’t cover damage to individual items.
However, if your belongings are in storage and the storage facility has a fire, or the truck carrying all your personal items has an accident that destroys everything, you’d likely be covered. Contrary, if some of your personal items are damaged by typical breakage, such as dropping, these likely won’t be covered by your policy.”
Military.com recommends reviewing policy options available within your insurance company. “Every policy is different, and even within the same company, there may be differences in coverage, especially between homeowners and renters’ policies. For example, Rebekah Nelson at USAA explained that USAA’s renters’ insurance policies include a moving and storage clause. But the clause is not included in their homeowner’s insurance policies.
When reviewing your policy, consider the different types of loss that could occur.
Losses may include damage, missing items, theft of individual items, theft of entire shipments, fire or mold. Some policies may cover some type of loss and no other types of loss. For example, your homeowner’s policy may cover your items if there is a fire. Alternatively, they may not cover items that are damaged during the move. Your renter’s insurance may cover theft, but it may not cover mold damage.
You can also choose to purchase separate moving insurance through the many companies that offer such policies. Just as with your homeowners and renters policies, you will want to carefully understand what is and is not covered before deciding to make any purchase.”
When searching for the answer through State Farm, the company site recommends specifically purchasing moving insurance. Especially if you driving the vehicle yourself. The company states, “most likely, your homeowners or auto insurance policy offers only limited coverage for your possessions if you transport them in your personal vehicle or in a rental vehicle. This means you may assume the risk if you use your own vehicle for the move. Truck rental companies, on the other hand, offer insurance that not only protects the rental vehicle. Furthermore, the driver, passengers, and your cargo, depending on the type of coverage you choose.”
So, the short answer to this is, check with your insurance provider fully. Furthermore, if their response is unclear protect yourself through the moving company, your personal policy or rental insurance for the vehicle.
Nevertheless, ensure that you are protected.
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