Simply Explaining Insuance #76- Moving and Storage

My agency gets asked these questions often. “How are my things covered when I am moving”? Or, “Are my things covered in Storage?” If you have a homeowners policy in place, the simple answer is “yes.”

There is situation where your belongings may only covered up to 10% of what your homeowners policy says. It does not apply to storage facilities or moving. If you have belongings in a secondary residence, and that residence does not have a policy on it (my claims supervisor calls this the “cabin rule”), only 10% of your belongings will covered from your primary homeowners policy.

Should you buy the coverage that the moving company is going to offer to you when you move? If you have no homeowners policy or renters policy in force, I would urge you to buy what they offer. If you do have one in force, I think it’s still worth considering. In the event that something does happen during transit, you will avoid a claim on your policy and paying out your deductible. Plus if something breaks or gets damaged, it might not be something you would want to claim on your homeowners policy. The cost to fix or replace may be below your deductible.

See how much it costs to have the moving company cover your stuff, and do what feels right to you.