Moving is stressful. As you or the movers are moving boxes and furniture, a thought might cross your mind. Does my homeowners insurance cover moving damage?
The answer is generally not a definitive yes or no. It is important to check your policy prior to moving. While homeowners policies cover theft, vandalism, and/or weather-related damage while your items are in transit, the insurance coverage doesn’t cover damage to your items from movers, mishaps while in transit, or even if you accidentally damaged something.
To avoid the potential cost to repair or replace a damaged item during the move, if you’re hiring movers, confirm the company has general liability insurance. General liability insurance protects moving companies from third-party claims of bodily injury, property damage, and personal and advertising injury. Interstate movers are required to offer two levels of liability for customers: Released Value Protection and Full Value Protection.
If you don’t want to rely on the insurance carried by a moving company or if you’re moving yourself, get familiar with your auto insurance policy or the truck rental company insurance. Your auto insurance policy offers limited coverage for your possessions as you transport them in your personal vehicle. Most truck rental companies offer insurance that protects the rental vehicle; however, sometimes there are options for coverage for the driver, passengers, and your cargo. Damage waivers cover the damage of only the rental vehicle. Supplemental liability insurance provides liability insurance that is required by the state and kicks in if you are part of an at-fault accident. Personal accident and cargo protection will assist in paying for medical bills for you and passengers; it also covers damage or loss of items inside the rental vehicle.
Regardless, keep your insurance documents and details nearby because it’s important that you can quickly access those essentials; especially if you are moving across a far distance or across state lines.
Before the move, take the time to learn your policies and determine if additional coverage is needed to protect your belongings.
