Moving into a New Home? Make Changes to Your Insurance Too
No doubt, moving into a new home is a stressful and exciting experience. However, as you pack your belongings and make arrangements for the move, you shouldn't forget to review your insurance policies. Making changes to your insurance will ensure that you and your possessions are adequately covered during and after the move. Here are things to know:
Talk with your insurance agent
Speaking with your agent is the first thing you want to do to ensure your insurance provides enough protection. Your agent will let you know whether transferring your policies to the new location is possible and how to do so. Your agent will also tell you if you need to find a new agent.
Can I transfer homeowners insurance?
It's possible to transfer your homeowners insurance to a new house. However, because a homeowners insurance premium is based on a home's age, location, risks, size, and other factors, your premium may have to be recalculated.
This is especially the case if you are moving to another state, as risks and coverages vary from state to state. In some instances, such as if your insurance agent doesn't have the authorization to sell policies in that state, you may have to buy a new homeowner' coverage.
Is my stuff covered during the move?
Whether your belongings are covered during the move or not depends on factors, including whether you are moving yourself, hiring a moving company, moving out of the state, and the type of homeowners insurance you have.
For example, some homeowners insurance cover your belongings no matter where they are. So, if you're stacking your properties in the back of your truck and doing the move yourself, your properties will be covered. Other insurance policies will not cover your belongings once they leave your home.
Also, if you hire a mover and are moving to another state, you can have coverage during the move. Under federal law, a moving company is responsible for part or all of the replacement costs of lost or damaged items. However, to get the full value of your items, you'll have to pay an additional fee.
With the right coverage protecting your possessions, you'll be able to focus on settling into your new home. Speak with an independent insurance agent today.