Renters insurance doesn’t always cover moving. Since a landlord’s property insurance won’t cover a tenant’s belongings, it is important to have renters insurance. However, for it to cover moving, you will have to make sure that you get a plan that provides that cover. The insurance rates and policies vary a lot from state to state and hence you will have to do your research based on where you are.
Start with your insurance agent if you have one. Check whether the policy you have purchased or are about to purchase have moving coverage. Also, make sure you meet any requirements that are set forth by the insurance company. If you are purchasing renters insurance directly from the company, make sure you clarify these details from the company directly. Some companies will have you submit documentation a fixed time ahead of your move. Others will transfers your cover automatically to your new address. Generally speaking, Renters insurance policy by nature is supposed to protect your belongings regardless of where you are. Which is why moving will be automatically covered some of the times.
Coverage during a move varies. Your policy might not cover any damage to your possessions that happened during a move. Some policies will not even cover damages to your possessions when they have been moved from your rental residence. However, if you choose to add moving coverage to your policy, agents and companies will often have add-ons for you at a small additional cost that adds moving coverage to your policy.
Always make sure you know how much coverage you are getting and what type of coverage you are getting. If your possessions are being evaluated on cash value, it is usually lower than getting coverage based on replacement costs.