Is your personal property insured while moving?
In our quest to answer as many of our frequently asked questions through our blog as possible, this week we are brought to a very frequently asked question regarding the insurance of personal property. Is your personal property covered while moving? This is actually a very good question and a responsible one to ask when beginning the process of moving. Many times, a moving company will offer insurance for your personal property when renting a truck or moving van. But, what if you hire movers and they break something, does that count? The answers to these questions and more are below.
As we have discussed in previous blogs, as long as you have homeowners, condo, or renters insurance your personal property is covered anywhere in the world. This includes during transit or in storage facilities (another question that is commonly asked. Yes, your property is covered while in storage). This narrows down one rule of thumb that should be obvious. You have coverage if you have a policy. You do not have coverage if you don’t. This includes whether the property is in your own personal vehicle, a friends vehicle, or a moving companies vehicle such as U-Haul, Penske, or Budget. Now that we have that settled, the next question is the biggest determiner of coverage during a move: Are you moving yourself or are you hiring movers? If you’re moving yourself, you’re good. BUT, most insurance companies will NOT cover your personal property while in the care of movers. In this case, you would want to purchase insurance of your property through the moving company. Otherwise, the moving company will certainly have you sign a waiver stating they are NOT responsible to damage done during a move. So, the answer to this question put simply is:
- Yes. If you have a home insurance policy with personal property coverage, your property is covered anywhere in the world. This includes while in transit (no matter the vehicle) and in storage.
- Did you hire movers? If yes, it is not covered while in their care. If no, it is covered.
Plain and simple. Although there will be some variations in these rules between insurance companies this is generally a good guideline to follow. Ultimately, you will want to ask your agent or insurance company if you have more specific questions or hypothetical situations to ask about. We insure many homeowners throughout Indianapolis and Central Indiana. If you are moving within Indiana or are moving to Indianapolis, Indiana from out of state, please contact us for any questions or to get you started in the Hoosier State.