We all know how stressful moving can be: There’s a massive list of tasks to perform. It’s no surprise that making new insurance arrangements might not jump out as your first priority.
But do yourself a favor: Don’t wait. The process isn’t as tough as it seems. Below are a few key questions to investigate about moving and insurance. They don’t cover everything, but they should get you going in the right direction.
• Have you talked to your agent? If you’re happy with your insurance company, give your agent a call. Your agent should be able to tell you whether you’ll need to find a new agent and how to transfer your policies to your new address.
• What about new insurance or transferring insurance? Talking with an agent is the best way to find out what you’ll need to do to get new insurance or transfer your insurance to your new address. Your agent will also help you understand insurance requirements in your new location.
If you’re moving between states, keep in mind that insurance coverage varies across states. For example, in California, due to the high frequency of earthquakes, you need to take special precautions to make sure your home is safe and secure in case an earthquake occurs. That’s not the case in Indiana. Different states also have different auto insurance laws, and if you’re moving to a new state, you’ll need a new auto insurance policy — plain and simple.
Most state laws require you to have homeowner’s insurance before you even buy a home.
• Are your possessions covered while you’re moving? Depending on how you’ve chosen to move — hired movers, rental truck, a portable container or DIY in the back of your old Honda — your property may or may not be covered between the time it leaves your home and arrives at its final destination. Some homeowner policies will cover your property everywhere, regardless of whether it’s in your home or in a moving truck. Other policies won’t cover anything once it’s out your door. So double-check your policy or call your agent.
If your own insurance policy won’t cover your property, you can get coverage through your moving company. By federal law, moving companies have to offer supplemental insurance for your property that will cover a set percentage of replacement costs, but you’ll need to increase that amount to get full coverage.
Information provided by Matt Cale, State Farm Insurance, 6733 University Ave., Windsor Heights, 280-9000.