{"id":1432,"date":"2019-06-04T12:08:39","date_gmt":"2019-06-04T17:08:39","guid":{"rendered":"https:\/\/flagshipinsuranceservices.com\/?p=1432"},"modified":"2019-06-04T12:08:39","modified_gmt":"2019-06-04T17:08:39","slug":"understand-insurance-coverage-for-your-move","status":"publish","type":"post","link":"https:\/\/flagshipinsuranceservices.com\/index.php\/2019\/06\/04\/understand-insurance-coverage-for-your-move\/","title":{"rendered":"Understand insurance coverage for your move"},"content":{"rendered":"

So, you’ve arranged a moving-in date for your new home; cleared out your junk; organized transfer of your cable, mail, and utilities; and ordered your moving containers. What next?
\nPresuming you’re going to be using a moving company, you\u2019ll want to get that service booked soon, but before you do, there’s one thing you absolutely need to think about: insurance.
\nInsurance isn’t the most exciting part of a home move but imagine the fallout if your moving truck ends up in a river or a rogue driver goes AWOL with a truckload of your possessions. It’s very rare that this kind of thing happens, but you\u2019ll want to be prepared if it does. Of course, relatively minor mishaps, such as a dropped flat screen TV happen more frequently. After all, cardboard boxes can split and people can drop things.
\nBefore you sign a contract with the moving company you should do some homework and a little bit of math. You may have a limited amount of coverage built into your homeowners or renters insurance policy. But usually, homeowners policies don\u2019t cover personal property while in transit or storage. It\u2019s important to sit down and discuss this with your agent.
\nTo see what coverage you have, you\u2019ll need to run through the following checklist of items:<\/strong>
\nAre you covered for moving?
\nIs there a time limit?
\nAre you covered if you\u2019re moving your items into storage?
\nAre you covered if you use a professional moving company?
\nDo your contents have to be properly packed? Does this mean the movers have to pack them for you?
\nWhat deductible will you have to pay if you have a claim?
\nAre any items excluded?
\nIs there a price-per-item limit?
\nWhat\u2019s the claims process?
\nThe answers to some of these questions may result in extra costs for you. For example, if you need the moving company to pack on your behalf they\u2019ll likely charge for that.
\nWhen you call your insurance agent, you should ask about:<\/strong>
\nAny riders or floaters that can increase your protection;
\nWhether a claim would push up future premiums;
\nIf they offer any ‘basic perils’ coverage if you intend to continue using your current insurance company in your new property; and
\nThe effect of increasing or reducing deductibles.
\nYou should get prices for all the above and use these to decide on the level of risk you\u2019re comfortable with. There\u2019s never zero risk!
\nIf you\u2019re a first-time buyer, note that your new insurance policy will probably not cover your possessions until they\u2019re in the new house although if you have an existing renters policy that would provide coverage. If you don’t have an existing policy but were previously protected under another person’s policy (e.g. a parent’s), it\u2019s worth asking them to check with their insurer to see if they\u2019ll extend some coverage in return for you taking your first insurance policy out with them \u2013 this can work!
\nIf you haven’t purchased homeowners insurance yet, West Bend offers a policy with numerous coverage options. A West Bend homeowners policy provides coverage for 30 days subject to the perils of the policy and home deductible, up to the limits of the policy for a newly acquired principal residence.
\nWhen you know what\u2019s covered by your existing policy, you can look at what your moving company could offer you.
\nCan your moving company provide insurance coverage?<\/strong>
\nFederal regulations require all moving companies to offer two types of insurance coverage if you\u2019re moving out of state. However, this isn\u2019t technically regarded as insurance in the same way as your home, renters, or condo insurance.
\nReleased Value Protection is liability coverage that\u2019s based on weight. This coverage pays up to 60 cents per pound for personal property. However, with all the electronic devices in a person\u2019s home, this coverage is very minimal and wouldn\u2019t pay full replacement cost.
\nFull Value Protection may cover you for the repair or replacement of your personal property. If you purchase this coverage, make sure you check with your moving company to see how you\u2019ll be covered. Usually, their insurance policy determines if the damaged items will be replaced with new ones or at their depreciated value (i.e. reduced value based on age and condition).
\nOnce you’ve talked to your insurance agent and the moving company, you\u2019ll have a better a better idea of how the different coverage options work.<\/p>\n","protected":false},"excerpt":{"rendered":"

So, you’ve arranged a moving-in date for your new home; cleared out your junk; organized transfer of your cable, mail, and utilities; and ordered your moving containers. What next? Presuming you’re going to be using a moving company, you\u2019ll want to get that service booked soon, but before you do, there’s one thing you absolutely […]<\/p>\n","protected":false},"author":3,"featured_media":3007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-1432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/posts\/1432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/comments?post=1432"}],"version-history":[{"count":0,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/posts\/1432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/media\/3007"}],"wp:attachment":[{"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/media?parent=1432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/categories?post=1432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flagshipinsuranceservices.com\/index.php\/wp-json\/wp\/v2\/tags?post=1432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}