If you at least know your options and what level of coverage you need, you won\u2019t be left broken-hearted over your broken belongings.<\/p>\n One of the big reasons to get a homeowners insurance policy<\/a> is so that your personal belongings are covered in the event of a fire or theft. This same policy may also cover damage that happens during a move\u2014although that coverage may not be as extensive as you want or need.<\/p>\n \u201cOur homeowners insurance will cover property while being moved, but there are limitations for such things as valuable items and breakage of fragile items,\u201d says Bob Buckel<\/a>, vice president and product manager for Erie Insurance<\/a>, an established multi-state insurance company founded in 1925. \u201cWhat you need to know is whether your policy covers belongings for \u2018named perils\u2019 or \u2018comprehensive perils\u2019 coverage, which is sometimes referred to as \u2018all risk.\u2019\u201d<\/p>\n If your policy only covers named perils<\/a>, your personal property may not be covered at all once it leaves your old house. And it won\u2019t be covered again until it\u2019s moved into your new home (assuming you\u2019ve purchased a new policy for the new property).<\/p>\n \u201cBetter homeowners policies come with comprehensive perils, which includes coverage for collision or upset,\u201d explains Buckel.<\/p>\n \u201cSo if the moving van is involved in an accident, and your belongings are damaged, your policy would likely cover that, whereas a named perils policy most likely would not.\u201d<\/p><\/blockquote>\n Even if your homeowners policy covers personal property damaged during your move, that doesn\u2019t mean you get brand new replacements for free.<\/p>\n You\u2019ll still have to pay your deductible, which may be anywhere from $500 to $2,000 or more<\/a>. Plus, your policy may only cover fair market value<\/a> or actual cash value, instead of full replacement coverage.<\/p>\n Taking depreciation into account, this means you may only get reimbursed for what you could sell your \u201cused\u201d belongings for\u2014so your insurance company may only cut you a check for a few hundred dollars to cover your $2,000 antique.<\/p>\n Of course, there are some homeowners insurance policies that won\u2019t cover property damaged during a move<\/a> at all. Other policies require additional coverage<\/a> for property such as jewelry, cameras, and musical instruments.<\/p>\n The smart play is to contact your homeowners insurance agent well before the move to find out exactly what your policy covers. In some cases, you may be able to get add-ons to your policy that will better cover you during your move.<\/p>\n If not, your insurance rep may suggest paying extra for moving insurance provided by your moving company.<\/p>\n The good news is that according to federal law, the moving company is liable<\/a> for the value of the personal property that they transport for you.<\/p>\n This does not mean that they are required to pay the full cost for repairs or buy you brand new replacement items.<\/p>\n In fact, the minimum amount of liability coverage they\u2019re required to provide might surprise you.<\/p>\n Known as Released Value coverage, this most basic level of moving insurance is provided by the moving company at no additional cost.<\/p>\n But it doesn\u2019t cover much.<\/p>\n \u201cIt is legally mandated that licensed movers offer \u2018Value Insurance,\u2019 which is technically not insurance, but \u2018coverage.\u2019 This level of insurance only offers $0.60 per pound, per item towards replacement or repair. Do the math and it\u2019s a very basic level of coverage, albeit free,\u201d warns Mike Glanz<\/a>, CEO of \u00a0Hire A Helper<\/a>, a site that\u2019s been helping consumers compare local mover reviews and pricing since 2006. \u201cHeaven forbid the movers drop your 30 pound, $500 flat screen TV. With this standard coverage, you\u2019d only see an $18 check to cover your broken $500 TV.\u201d<\/p>\n If you need better coverage than that, you\u2019ll want to pay for Full Value protection.<\/p>\n \u201cJust like it sounds, Full Value replacement covers the full value of every item listed in your inventory. This coverage is generally available as a paid upgrade, but it\u2019s relatively cheap,\u201d advises Glanz. \u201cFor example, at HireAHelper, Full Value insurance can be purchased for $9 per $1,000 of coverage requested.\u201d<\/p>\n Even Full Value coverage has its exceptions, though.<\/p>\n Movers can stipulate limitations within Full Value coverage for items of extraordinary value that exceed $100 per pound\u2014such as jewelry and antiques.<\/p>\n And your movers have three options if anything is lost, damaged or destroyed. They can:<\/p>\n That cash settlement is where things get tricky. The settlement may just cover the cost of repair or the current market replacement value\u2014which takes depreciation into account.<\/p>\n You should also be aware that movers are probably not liable<\/a> for boxes that they didn\u2019t pack themselves. So if you\u2019re hiring professionals, feel free to pack non-breakable items like cookware and clothes, but leave the packing of fragile items to them.<\/p>\n If you\u2019re really concerned about having enough moving insurance coverage, it may make sense to get liability coverage from a third-party insurance company.<\/p>\n Depending upon the type of third-party policy you purchase, this insurance will cover your loss beyond the basic Released Value coverage provided by the movers.<\/p>\n No matter how much moving insurance coverage you get, the hope is that you never need to use it.<\/p>\n The best way to ensure that your belongings arrive intact is to hire a moving company you can trust<\/a>.<\/p>\n If you\u2019re moving from one state to another, the U.S. Department of Transportation (DOT) offers both Search by Company<\/a> and Search by State<\/a> features to determine if the movers are properly registered with DOT. Any registered interstate moving company must be licensed and insured.<\/p>\n These lists aren\u2019t comprehensive, though, and may not include movers who only operate within the state.<\/p>\n So how do you find a trustworthy mover? Your best bet is to ask the real estate agent who helped you sell your house for a referral.<\/p>\n \u201cWe have a list of preferred movers based upon information we’ve received from past clients,\u201d advises Ken Carpenter<\/a>, one of the top 1% of sellers\u2019 agents in Plymouth, Minnesota<\/a>. \u201cAnd we tell our vendors that if we ever get a complaint, we’re never going to refer to them again, because we can’t afford to give a bad referral.\u201d<\/p>\n You\u2019ve made it through the move (hopefully with minimal dings and scratches) with enough moving insurance to cover any damage. You\u2019re settling into your new home and your belongings are now covered by your new homeowners insurance policy.<\/p>\n But your previous home still hasn\u2019t sold. So, you\u2019ll just have to maintain your old homeowner\u2019s policy until it sells, right?<\/p>\n Wrong.<\/p>\n While you do need to have insurance on your previous home until the sale closes, you won\u2019t be covered by simply maintaining your current policy. Once your previous home is no longer your primary residence, your homeowners insurance policy on it may no longer be valid because it\u2019s considered a vacant property.<\/p>\n Typically, a property is deemed \u201cvacant\u201d if the house remains empty for a period of 45 to 60 days<\/a>. This timeframe varies by policy and insurance company, so some may be considered vacant after 30 days or less.<\/p>\n \u201cI had a client who kept her regular homeowner\u2019s policy in place after moving everything out of her previous house. And within a two-week span, a tornado came and ripped the top of the house off,\u201d says Collier Swecker<\/a>, a top-selling real estate agent in Hoover, Alabama<\/a>.<\/p>\n \u201cAfter the tornado, the adjuster came through and noticed there were no clothes or furniture. He said, \u2018This is a homeowner\u2019s policy. So she doesn\u2019t have coverage because this was a vacant home, not an occupied home like her policy covered.\u2019 So you don\u2019t want to put yourself in that situation where you don\u2019t have the right policy in place.\u201d<\/p>\n You have several options to ensure your previous home remains covered after you move out. First, you could leave enough furniture in place so that it doesn\u2019t meet the criteria of a vacant home<\/a>.<\/p>\n Second, you can check with your existing insurance company to see if you can get a vacancy endorsement<\/a> added to your existing homeowners insurance policy.<\/p>\n![\"\"](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2018\/11\/moving-insurance-dishes.jpg\")
<\/a>Homeowners insurance policies may or may not cover damage in transit<\/h2>\n
<\/a>What does a moving company\u2019s insurance policy cover?<\/h2>\n
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Hiring a reputable mover matters even more than insurance<\/h2>\n
<\/a>What about post-move insurance?<\/h2>\n