However, coverage may be limited to covered losses like theft or fire damage. Some policies offer coverage that follows your personal property wherever it goes. Some companies will allow you to keep your old policy in force for some time after you move out to provide personal property protection. Talk with your insurance company about the best time for your policy to terminate. If your policy ends on the date that you move out, your coverage stops. This is where knowing what your insurance policy covers and in what situations is critical. With other moves, however, you may have your property in a storage container or moving truck, or in possession of a moving company. In some moves, the stars align and you're able to move out of your old house and into your new home at relatively the same time. Coverage should start on the day you take ownership of your new home, but you may be issued a binder, which is a temporary policy that provides evidence of insurance, explaining all the details of your policy prior to closing. If you experience a loss, deductibles may apply but your policy will likely cover your personal property while it's still at your old home.Īs part of your new home's closing process, you'll get a homeowners insurance policy for your new address. While your policy at your old home is still in force, your coverage should still work the way you expect. While you're packing your possessions, losses that occur may be covered by your homeowners insurance. Here are several common scenarios we look at to see how your policy could provide coverage during the pre-move stage, when your property's in transit, and after you move. Your property goes through a few stages during a move. Your personal property may or may not be covered for losses during a move unless you take steps with your insurance policies or have the right coverage in place. With every move, comes planning, packing, hiring movers and seeing which friend has a truck.īut what about your personal property and how you protect it? Homeowners insurance could be an afterthought in the moving process, but it shouldn't be. Census Bureau reports that since 2017 nearly 10% of Americans move each year. Or they may be first-time buyers moving from their apartments or rented homes. They may be selling a home to purchase a new home. While your local housing market may be heating up or cooling off, Americans are on the move. Across the country, it seems like the moment a for sale sign goes up, there's a sold sign that quickly follows.

Renters insurance binder