Did you recently sell your house and will be moving your possessions? Does your current homeowners policy cover it or do you need additional insurance to cover your contents?
And, does it matter whether you hire movers or do the move yourself?
If you've followed my posts, you know by now that insurance coverage might vary with insurers and state/federal laws. You may need to purchase an endorsement to your homeowners insurance policy or special moving insurance.
Here are a few general tips to consider BEFORE you schedule your move:
1) If you move yourself:
If you move yourself using your own vehicle/trailer, you'll likely need to have comprehensive and collision insurance for them to cover your items if they're damaged in transit.
If you move yourself using a rental vehicle, state laws and insurers vary as to what is covered for your items, yourself/passengers, and the rental vehicle itself. You'll need to understand exactly what your auto insurance covers, so it's best to consult your insurance agent for that understanding. In this case, you may want to purchase additional insurance from the rental company.
2) If you hire movers:
Adding a third party to the moving process complicates things, especially if you're moving across state lines. Since in this case you likely have a significant amount of personal property, it's generally in your best interest to purchase insurance from the moving company. Make sure you ask lots of questions so you know what their coverage includes like:
- Does their moving quote include moving insurance or is it an additional expense?
- What kind of deductible does the plan include?
- Is their certificate of insurance up to date?
- What types of loss are included in their policy (damaged, lost, stolen, fire, etc.) and under what conditions?
- How much do they pay out for the value of your personal belongings, if you experience some type of loss? (typically XX cents/pound of the damaged property)
- Do you want additional "full value" protection to increase the amount paid out for losses?
Bottom line: The answer to "does your homeowners insurance cover moving" is: it depends. Avoid finding out the hard way. Work with a local insurance agent experienced in property and casualty insurance to understand your existing coverage and possible options.