It’s estimated that about 11% of Americans move each year. If you’ve moved, chances are you can agree that moving is one of the most stressful things a person can go through. Packing up your life is difficult, especially when you have expensive breakables and items you’re attached to. Your personal belongings are covered while you’re on vacation by your homeowners insurance, but are they covered when your moving?
The answer is, it depends.
Homeowners Coverage
A standard homeowners insurance policy will cover your belongings if they’re damaged by a covered peril. While packing for your move, if you invite your best friend over to help you pack or enlist your two children to carry a TV, be aware that if your kids or friends break the TV, it probably won’t be covered by your insurance policy.
A covered loss while moving could be theft or fire. If there are items stolen out of the moving truck or if the truck is involved in an accident, your homeowners insurance will more than likely cover any damages. Don’t forget Policy insurance limits would still be applicable as well as your deductible(s).
Renters Coverage
If you don’t own a home and choose to rent, you might be thinking that your renters insurance will cover your move. Unfortunately, renters insurance typically does not protect against loss or damage to property while moving. Similar to homeowners insurance, renters policies will protect your belongings from fires and theft. Keep in mind, many moving companies will offer supplemental insurance while your belongings are in their possession during the actual moving process. If the moving company is responsible for the damage, your renters policy will not cover it, but the insurance provided by the moving company should provide coverage.
Speak with your agent before a move to find out how your policy can help protect your belongings during your move.
Have you moved recently? Don’t forget to speak with your agent about your specific coverage needs so that your new home is properly protected. Lighthouse is here to help guide your way forward (link to website).