Does Homeowner’s Insurance Cover a Move?
About one in 15 homes has a homeowner’s insurance claim every year, and claims related to wind or hail are the most frequent. But how about claims made while moving from one home to another? This is where it might get a bit tricky because even though these types of claims don’t make up a large an number of claims, you could save yourself a massive headache by ensuring that you do have the necessary coverage in case the unexpected happens while moving all of your belongings to your new home. Check out a few things to keep in mind when finding out if your homeowner’s insurance covers your move to a new place.
Every Policy is Different
As much as we’d love to, we can’t review every possible type of coverage offered by every carrier, which means it’s up to you to contact your insurance agent and clarify what is exactly covered while moving. Even in the case that your homeowner’s insurance has a moving coverage component, it’s much better to call and double check the fine print on your policy 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
While we’d like to reiterate that every policy is different, there are a few general commonalities when it comes to what a homeowner’s insurance policy will & won’t cover. For instance, your homeowner’s insurance policy will probably not cover damages that occur during the move like damaged artwork or dropped items. On the other hand, your carrier might cover your stuff in the event of a catastrophe to the point that the moving truck is severely damaged or if your items are stolen from the moving truck. 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 could likely offer their own coverage, for example, in case the truck gets into an accident. You can also purchase additional moving insurance if you want to cover all the bases in your coverage.
Keep an Eye on Your Deductible & Limits
Even if you find out that your homeowner’s insurance policy does cover your move, it’d be wise to check your deductible and limits, as they might vary while your valuable and personal 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 up 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 collectibles like baseball cards.
Your home and your valuables are something of the utmost importance to you and your loved ones, especially when it comes 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.
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