Changing Places: An Insurance Checklist for Moving

Obtaining insurance for your personal property during transit is necessary before you move.

Moving involves more than packing your belongings and transporting them to your new residence. Moving to a new home also involves ensuring your personal property remains insured before, during and after your move. Following an insurance checklist can help you make sure you do not suffer financial loss due to the ruination or loss of your possessions while they are in transit.

Instructions

1. Discuss your upcoming relocation with your insurance agent. Review your current homeowners insurance policy to see if your policy includes coverage for your personal property while it is between your old and new homes. If your homeowners policy does not provide full coverage for your personal property, talk with your insurance agent or your moving company about purchasing a temporary policy to cover your possessions during the length of your move. Temporary coverage typically costs about 1 percent of the value of your belongings.

2. Increase the amount of liability coverage included in the contract you enter into with a moving company. Even though a moving company must provide basic coverage for the property it moves for you, the amount automatically included in a moving contract is minimal, generally between 30 cents and 60 cents per pound of property moved. Purchasing full value protection ensures a mover will reimburse you an amount to fix or replace your property if it is lost, damaged or destroyed during your move, minus your deductible.

3. Create a list of the belongings your mover will transport to your new home. Take pictures or a video of your possessions so you can demonstrate their condition before the move in case you file a claim once the move is over. Gather any receipts you have relating to your purchase of your belongings so you can prove how much it will cost to replace damaged, lost or ruined items. Give a copy of your pictorial and written inventories and copies of your receipts to a trusted friend in case you lose or misplace the originals.

4. Inform your mover in writing about items included in your inventory that have a value equal to or greater than $100 per pound. Items of extraordinary or high value may include your jewelry, heirlooms and artwork.

5. Examine the state of your belongings when your mover delivers them to your residence. Document any noticeable damage or loss on your mover’s paperwork before signing for the delivery of your property.

6. File a claim to recover for the loss, damage or destruction of a belonging within nine months of receiving your property at your new address. Your carrier will acknowledge your claim within 30 days of receiving it and will either deny or settle the claim within 120 days of receiving your paperwork.

References

• Allstate: Moving Tools and Tips
• Relocation.com; Moving Protection: How Should You Insure Your Belongings?; February 2011
• State Farm Insurance; Transferring Insurance When You Move; March 2011
• 123Movers.com; Moving Insurance Tips: Protect Your Property
• Mover Max: Insurance for Moving