About one in 15 homes has a homeowners insurance claim every year, and claims related to wind or hail are the most common. But how about claims made while moving from one home to another? This is where things get a bit tricky. Even though these types of claims don’t make up many homeowners claims, you can save yourself a massive headache by checking that you have the necessary coverage in case the unexpected happens while moving to your new home. Here are a few things to keep in mind about your homeowners insurance coverage when you move to a new place.
Every Policy is Different
It is always a good idea to contact your insurance agent and/or provider to clarify what exactly is covered while moving. Even in the case that your homeowners insurance has a moving coverage component, it’s much better to call and double check the fine print on your policy ahead of time, rather than finding out about gaps in your coverage when it’s too late. You might want to consider asking your carrier questions like: Will you cover damages that happen to my belongings during the move? Does your company cover items that are lost during transit?
The Fine Print Between Theft & Damage
We’d like to reiterate that every policy is different. There are a few general commonalities when it comes to what a homeowners insurance policy will and will not cover. For instance, your homeowners insurance policy might not cover things like damaged artwork or dropped items. On the other hand, your carrier may cover belongings damaged in a catastrophe or stolen during the move.
Minor damage is common with moving so you shouldn’t assume it to be covered. Again, it is always best to check your policy in cases of extreme damage or loss.
As odd as this may seem, there could be even bigger gaps in your coverage if you don’t ask the tough questions and read the fine print. Keep in mind that if you hire a moving company, they may offer their own coverage. For example, they may have coverage should their truck get into an accident or one of their workers get hurt lifting a piano. You can also purchase additional moving insurance if you want to better protect potential gaps in your coverage.
Keep an Eye on Your Deductible & Limits
Even if you find out that your homeowners insurance policy does cover your move, it’s wise to check your deductible and limits, as they might vary while your valuables and belongings are away from home. Remember that your deductible will still apply while you’re moving from one house to another, which means you’ll still have to pay the agreed upon amount, in accordance with your policy, up front, before your coverage comes into effect.
Coverage limits can vary from one policy to another and from one item to another. Some policies even have lower coverage limits while your valuables are on the road. Keep in mind that some states have maximum coverage amounts for specific types of items such as collectible baseball cards.
Your home and your valuables are of the utmost importance to you and your loved ones, especially when it's time to move. Infinity Insurance understands that, which is why it’s important to have a reliable team at your service to protect your home. Get in touch with an Infinity agent at 1-800-INFINITY or get an online quote today.