Do you need to buy extra insurance policy cover for your goods in transit,store,werehouse or even at home.Whether you are moving yourself or hiring a moving company to move your goods,consider property transit insurance cover for your goods during the move.However,most people don’t realize that homeowner, renter and condo insurance may provide you with some insurance protection during and right after your move.
Lets have a look at what may be covered by your personal property insurance and insurance options with the moving company.
1)How to Get Damage Insurance When Moving
If you have home insurance or renters or condo insurance,you may already have some protection for your personal items during the move. There is a clause in your homeowner policy that covers your items while in transit, or in temporary storage, however, these clauses are subject to the terms and conditions of the contract.
If you are hiring professional movers your coverage may be limited, however, you may be able to purchase additional endorsements from your home insurance company to cover specific risks that concern you.
2)How Do I Know If My Home Insurance Will Cover Me During a Move Through Home Insurance?
You may ask your home or renter insurance company about what they will cover during a move.Trip transit policy.
3)What Is a Trip Transit Policy or Endorsement
The Trip Transit policy insures your property for damage during a specific trip or transit event. In this case, the trip transit policy would be covering you for your specific move. It would normally cover you in the same way that your home insurance would cover your personal items, but would not necessarily cover damage caused by the movers themselves.
You will want to ask all the details of this coverage since it may vary from insurer to insurer. For example, trip transit would not normally cover breakage but may cover mysterious disappearance
4)I’m Buying My First Home, Will My Renters Insurance Cover My Items While I Move?
Even if you are a first time homeowner, if you have insurance as a renter where you are currently living, then you may benefit from the clause that covers your items for basic perils while in transit if you are sticking with the same insurance company.
5)Will My New Homeowner Policy Cover Me for the Move to the New Home?
Don’t count on your new homeowner policy insuring your personal belongings before you get to your new home. Your new homeowner policy would normally only cover you for the items starting once they are in the new home, therefore you should not rely on a basic homeowner policy to cover your items until they have reached your home. This leaves you open to a potential gap in coverage before you move in.
The only way around that is to obtain insurance where you live now so that when you move, you can benefit from some insurance coverage during the move. You can speak to your home insurance representative about this option and see what is available.
6)Moving Out From Your Parents House to a New Home or Apartment.
If you are living with your parents and buying a new home or even renting an apartment, it is worth a try to speak to your parent’s insurance representative and see if as a person who has been insured under your parents policy as a family member.
7)What If You Don’t Have Professional Movers and Someone Damages Property?
If you are just moving with friends and not “hiring” them for the move if they damage your property while moving you may have some recourse against them through their personal liability insurance or they may be able to compensate you for damages under the voluntery property damage clause of their home or tenant policy.
Normally most people do not like the idea of holding people who are helping them out financially responsible for damages while they were volunteering to help, but it may be an option if something really valuable gets damaged. Insurance policies limit coverage to people while they are employed or hired to do a job, so if you expect your semi-professional movers, or paid help to be able to cover damages through personal insurance, then you will likely be out of luck.
8)What If when Setting Up Your Home,You cause Damage to Your Own Property?
If you have a named perils policy it is unlikely you will be able to make a claim with your own insurance. If you have an open perils policy or all risks cover, you may be able to claim but only if you yourself do something silly like drop your TV down your stairs