When you move in, you probably have many items to accompany you to your new home. Are you wondering if your landlord’s insurance protects your property if something happens to them during the move? The answer is not necessarily. Although home insurance generally helps cover your personal belongings, the loss must be linked to a risk listed in your policy. The risks covered generally include risks such as fire and theft. So if there is a theft on the moving truck, home insurance can help cover the loss.
Your home insurance policy may cover items that were damaged during a move in certain situations. For example, if the moving truck is involved in an accident while transporting your property and your property is damaged, this is likely to be covered by your home insurance policy. However, in some cases, your coverage limits may be lower while transporting your personal belongings during a transfer. Your agent can help you answer questions about your specific policy.
KNOW YOUR FRANCHISE
Your personal deductible applies. This is the amount you pay before your insurance coverage takes effect. For example, if you have a $2,000 deductible and $10,000 is stolen from mobile truck furniture, you will usually find that your policy will reimburse you $8,000 if it is within the limits of your policy.
KNOW YOUR LIMITS
It is also important to know that during a move or not, any property that is covered by home insurance is only protected within the limits of your policy. Your policy may also include a personal property limit when you are away from home. Talk to your agent about how your own policies can help protect your belongings during your move. In addition, there are different standard limit values depending on the property category. For example, your policy may set maximum coverage amounts for valuables such as jewelry or baseball cards.
You may be able to purchase additional protection for certain high-value items called scheduled personal property warranties.
Talk To Your Agent
If you contact your agent a month or two before you move, you can find out what type of home insurance coverage your current policy can provide for your move, review your change of address, and review the coverage options and restrictions for your new location. It is also an opportunity to review the expected changes in your rewards with the new home.
If you speak to your agent in time for your move, you can make sure you have all the guarantees you need when you move to your new home. With the protection you need, you can focus on moving into your new home and enjoying the days ahead.