Most consumers don’t know they put their personal belongings at risk when moving.
While homeowners and renters policies cover the items at home, insurers will not pay for damages when the property is being packed, in transit, being handled by movers or while in storage facilities.
“Depending on your agreement, professional movers provide some protections for your belongings,” the Insurance Information Institute (Triple-I) says. “It's a good idea to consult your insurance professional about your current policy, make sure your coverage is sufficient for your move and understand your options.”
According to Triple-I, these options include:
Trip transit insurance covers your personal property for perils including theft, disappearance or fire (the same perils covered by your homeowners or renters policy) while in transit or storage. Trip transit insurance can be written for the full value of your property, or as excess coverage over and above that provided by the moving company.
Special perils contents coverage will cover breakage of all but fragile items.
A floater will fully protect high value items such as jewelry, collectibles, china, vases, fine art, etc.
Car insurance verification. If you're shipping your vehicle, ask the auto shipping company for their insurance certificate—they are required by law to have one. And check with your insurance company about your coverage: Is it the same while the automobile is being shipped? Do you have to provide the company with any notification?
Storage insurance. If you're going to need temporary or permanent storage for some of your items before or after the move, understand how they're covered too.
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