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Does renters insurance cover moving damage?
Yes, renters insurance covers moving damage if your belongings get damaged or lost due to a covered peril.
Common Covered Perils
The most common covered perils that you have to worry about when you move are theft and vandalism.
- Theft: If your belongings get stolen as you are moving (including by your moving company), renters insurance will cover the lost items up to the coverage limit.
- Vandalism: If your movers deliberately break one of your possessions, that’s covered (although hopefully they won’t do that). If somebody breaks into the moving truck and damages your things, that’s also covered.
Less Common Perils
Other perils that are normally covered by renter insurance are still covered when you’re in the process of moving. For instance, in the unlikely event that your moving truck catches on fire, the damage will be covered.
When is property loss not covered when you’re moving?
Property loss is not covered when the damage was caused by an excluded peril, your own negligence, or accidental breakage.
- Excluded perils: If your belongings are damaged by an excluded peril, like an earthquake, that won’t be covered.
- Your own negligence: If you break your wine glasses while packing, renters insurance will not reimburse you.
- Accidental breakage: If you hire a moving company and they accidentally damage your things, renters insurance also won’t cover that. However, the moving company will have moving insurance, which will cover the damage.
What does moving insurance cover?
Moving companies offer moving insurance as part of their service, which covers items by weight. With basic coverage, if the movers damage one of your possessions, they’ll generally pay you 60 cents per pound.
However, this does not take the market value of your item into consideration. For example, if the movers break your $2,000 camera that only weighs 2 pounds, you’d be entitled to just $1.20.
For more protection, you might want to consider upgrading to full coverage, where the moving company will replace, repair or cover any broken items and losses. However, some items (especially those worth more than $100 per pound) may still be excluded.
Can I transfer my renters insurance when I move?
Yes, you can transfer your renters insurance when you move, if your insurance company provides coverage in your new location. Your policy will cover you in both locations for up to 30 days, so there’s no need to have more than one renters insurance policy if your two leases overlap a bit.
You should contact your insurer before you move to see if they offer coverage and can update your policy. Your premiums may change depending on where you move, and not all insurers offer coverage in every state.
If you’re staying somewhere for less than 30 days, you’re still covered by your existing policy and won’t need to get short-term renters insurance. If you’re staying for longer, just let your insurer know.
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