TOPEKA, KS — Moving is one of the most stressful transitions we experience, and almost everyone does it. In fact, an American moves an average of 11.7 times in his or her lifetime, according to the American Community Survey. But you can make the process easier if you consider insurance implications before you move.
The Kansas Insurance Department (KID) and the National Association of Insurance Commissioners (NAIC) suggest you review these important tips prior to relocating.
Before You Move
This is a great time to take inventory of all the items you own and plan to move. It’s helpful to understand what you’re packing and moving if items end up missing or damaged. The NAIC Home Inventory app, NAIC MyHOME Scr.APP.book, is available for smartphones, or you can download the KID Home Inventory Booklet at http://www.ksinsurance.org/documents/department/publications/personal-homeinventory.pdf.
Auto and Home Insurance Concerns
It’s important to contact your auto and home insurers prior to your relocation to discuss the specifics of your move.
Contact your auto insurer to do the following:
- Give them your new address — depending on where you’re moving, this could affect your rates.
- Update information that may impact your policy, like if your car will be parked on the street or in a garage, or if you’ll no longer use your car for commuting.
- Check on your personal property limits for your possessions while they are in your vehicle. You may need to obtain more coverage for transporting your items.
- If you’re planning on renting a truck or trailer to move your items, make sure you speak to your insurance company and review the coverage from the rental company to find out if you’re adequately covered. If you use a credit card to rent the vehicle, that company may provide coverage as well.
When moving locations, it’s imperative that you speak to your home or rental insurer prior to moving. Be sure you’ll be covered until you’ve moved out and that you’re going to be covered in the new location. If you bought a home, make sure your coverage starts the day you close on the house.
In addition, consider asking the following questions:
- What coverage will I have while I’m moving?
- Will I need more or less coverage in my new dwelling?
If you already moved out of your home but still own it, don’t drop your insurance too soon. If there is damage to the appliances or the home, you’ll be left to cover the cost.
Choosing a Moving Company
If you decide to hire a moving company, make sure the company has proper coverage.
- Ask for proof of liability insurance and proof of worker’s compensation insurance.
- Find out what the company will cover. Some companies might only offer minimal coverage based on the weight of your items. Coverage cost per pound could be inadequate if valuable items are broken.
Storing Your Possessions
If you’re putting your items in storage during the relocation, talk to your insurer about what coverage you will have for your possessions while they are in the facility. You might need to purchase a policy known as an inland marine policy or floater to provide you the coverage you need while your possessions are being stored. However, the vehicle transporting property is not covered under that type of policy.
If you have specific questions. Contact the KID Consumer Assistance Division at 800-432-2484 (in Kansas).
Source-Kansas Insurance Department