Does Renters Insurance Cover Moving

Does renter's insurance cover moving from one apartment to another? Because a landlord's insurance doesn't cover the personal belongings of any tenants, renter's insurance is a good idea for protecting your belongings. Rental insurance policies differ so much from state to state and even from insurance company to company that a wise renter will ask the right questions and know exactly what to look for when it comes to finding out if renter's insurance covers moving damages.

Check First
Before signing up for renter's insurance, check with the agent to ensure that the policy you're purchasing does indeed cover moving. Some policies require paperwork to be submitted a certain amount of time before a move, while others have wording within the policy that automatically transfers the coverage to wherever you live. In general, the renter's insurance policy is designed to cover you and your personal possessions, regardless of where you are living.

Coverage During A Move
Don't assume that a moving company carries insurance to replace or repair any damage to your personal belongings. Likewise, not all renter insurance policies cover damage to belongings when they are not in your rental residence, either old or new. While some policies do cover any damages incurred by the moving process, others won't cover damage to items in between residences. However, most renter's insurance agents can offer a low-cost addition to a standard rental insurance policy that will cover moving expenses.

Verify Type Of Coverage
Even if your renter's insurance policy states that items damaged during moving will be covered, you may not be satisfied with the type of coverage. Insurance can cover either the total value of the item or the replacement value of the item. These costs are not necessarily the same. A 10-year old sofa is going to be valued at a much lower rate than what it would cost to replace that sofa. Another type of coverage that some rental insurance policies implement is a percentage of value. Check your policy carefully to find out what percentage of value your policy will take care of-it could be anywhere from just 10 percent to 100 percent.