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Are my belongings covered by homeowners’ insurance when I move?



Moving can be exciting and exhausting at the same time, but it does not change the fact that you would move with you most, if not all, of your belongings. Undoubtedly, it is no easy task to arrange your property in boxes and transport them across the state or city, as the case may be, not even with a moving company involved.

You must handle your goods carefully to avoid damage. However, there is no guarantee that they will not be injured when traveling. If you have a home insurance policy, you may be wondering if it covers any damage to your belongings when you move. Read on to find out!

What is home insurance?

The homeowner’s insurance covers damage to your home and your belongings in the event of theft, fire or other covered danger. Coverage can be based on the actual cash value of the items covered or their replacement cost.

What is covered by the home insurance?

A basic home insurance policy provides coverage for the following:

The structure of the home

Coverage for the structure of your home is an important part of your home insurance. It also covers other structures that are connected to your home, such as patios, garages, etc. However, the damage must be caused by an explosion, aircraft / vehicle, hailstorm, windstorm, theft, vandalism or other covered risks.

Personal belongings

Your furniture, clothing and appliances will be covered by a homeowner̵

7;s policy. This coverage covers about 50-70% of your insurance cost. Sometimes it covers belongings that are not in the same place as your home. This means that even when you travel out of the country, your belongings will be covered.

Responsibility

In the event of a lawsuit for damages (damage to body or property) for which you or your family members are held liable, the home insurance will cover the costs of such lawsuits. It can also cover the damage your pet does to others or their property. Liability protection pays for both court defense and fines imposed on you.

Additional cost of living

Additional living costs cover the costs of living away from home if it becomes habitable. It includes costs for feeding, moving, getting temporary accommodation and other related expenses.

What is not covered by the home insurance?

Wear

Damage to your home or property due to long-term use is not covered by the home insurance. For example, if your ventilation system stops working after 10-15 years, it will not be covered.

Earthquake

Although home insurance covers natural disasters such as hailstorms, windstorms and lightning fires, it does not cover damage caused by earthquakes.

Floods

Flood damage to both the structure and belongings of your home is considered a high risk and is treated as such by most insurance companies. The homeowners’ insurance covers water damage due to plumbing, but not flood damage. Instead, you need a separate flood insurance policy to cover such damages.

What about property damage during relocation?

Homeowners’ insurance does not cover damage to property on the move, but many moving companies are obliged to have their own liability protection to compensate for such damage. This coverage can be of two types

  • Released value protection that covers belongings based on weight instead of their fair value.
  • Full value protection offers complete value coverage, as opposed to released value coverage. It is ideal for valuable belongings such as jewelry.

There is a limit to what your home insurance can and cannot cover, so you need a supplementary insurance when moving. At Abbate Insurance, we can help with coverage for your new home, apartment or condo. Contact us today to get a quote!


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