Does homeowners insurance cover your items when you move or when your things are in storage? When should you have insurance in place or when does one policy cover and the other take over?
If you’re moving to or around the Desert, you wil want to call your insurance agent before you load up that moving truck.
Homeowners and renter insurance will cover your items from damage or loss, but maybe only while they are at the original dwelling – they may not be covered in someone’s pickup or the new house. You will need to make sure with your agent there is no gap in coverage … because you never know when SOMETHING awful is going to happen, and it usually does at the point it is not covered. Your agent will be able to walk you through what you need and make sure you have the coverage you need.
If you hire a professional moving company, they generally cover the items in their care. Moving companies may offer different coverage options, including full value or released value.
According to the US Department of Transportation, Full Value is more comprehensive coverage, but it costs more out of pocket, whereas Release Value offers insurance at no additional cost but may only cover your belongings up to 60 cents on the dollar. If you opt for Full Value, be sure your estimated values are current. That should be good if your home inventory is accurate and has a comprehensive home inventory. Be sure the company’s coverage is enough should something go wrong. You may want to check with your insurance agent BEFORE you move to make sure your items are covered.
What if things are going to go into storage? Some insurances only cover items in self-storage to 10% of your personal property limit. This certainly may not be enough to cover much of anything. So you definitely want to check into this before lining the storage unit up.
If you are worrying about buying a home in the Coachella Valley area, call me – I have the know-how to make sure you have everything lined up, so you have NO surprises after you close or during the move. I committ to fast, professional, and courteous service to help you understand and feel at ease throughout the home buying process.
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