Does Renters Insurance Cover Moving?

Moving can be quite a hassle, but understanding what's included in your renters insurance coverage shouldn't be. While renters insurance can provide protection for your personal belongings in certain ways while moving, it doesn't cover all possible types of incidents. Knowing the difference between what's covered and what's not before you ever plan to move can help you save time and energy if you have to file a claim.

Fortunately, a local independent insurance agent can get you set up with all the renters insurance you need for your big move. They'll get you matched to the right policy with ease. But first, here's a detailed breakdown of if, when, and how renters insurance covers moving incidents and when it doesn't.

How Does Renters Insurance Cover Moving?

Renters insurance provides some coverage while you're moving, but only to a certain extent. There are three main issues you should keep in mind if you're relying on your renters insurance policy to cover you if something happens while you're moving:

• Named perils: Renters insurance is different from some other policies in that it only covers perils named in the policy, which include things like theft and natural disasters. However, personal property that gets lost during your move won't be covered, but property stolen during your move most likely would be. The property must be damaged or destroyed due to a named peril, such as fire, vandalism, or hail, for renters insurance to cover a loss while you're moving.
• Policy limits: Renters insurance also has different coverage limits for off-premises property. This means that the policy's coverage limits will vary if something happens to your personal property while it's away from your principal residence, even if it happens in transit.
• Loss of use: Renters insurance also includes loss of use coverage, similar to homeowners insurance, which covers you if you must move out of your residence due to a covered incident like a fire. So, if you had to vacate your unit due to a severe fire or busted plumbing, renters insurance could reimburse you for various extra expenses like hotel stays, takeout meals, dry cleaning services, and storage units.  

Of course, coverage always varies depending on your specific renters insurance policy. Be sure to review the details of your policy together with your independent insurance agent before moving.

Does Renters Insurance Cover Stolen Property During a Move?

Again, your renters insurance policy covers property that gets damaged or destroyed by a named peril. Generally speaking, most renters insurance policies cover theft. This means that if your movers steal property at your residence or even during the move, your renters insurance policy will likely cover that loss.

But keep in mind that theft that occurs outside of your primary residence can usually be covered, but not to the full policy limits. Most policies enforce a lower limit on reimbursement for off-premises coverage. 

For example, many policies pay 10% of your total policy limit for off-premises incidents. So, if you have $20,000 worth of personal property coverage, anything that's covered and gets damaged away from your residence would have a reimbursement limit of $2,000. Review your specific renters insurance policy to be certain of its exact limits for off-premises coverage, though.

Does Renters Insurance Cover Property That's Broken During a Move?

No, renters insurance won't cover personal property that gets broken during your move. Once again, this comes down to named perils. Property that gets broken through mishandling or negligence doesn't qualify as a loss due to a named peril. 

Hence, incidents of accidentally broken personal property during a move aren't covered by renters insurance. Keep in mind, though, that if a named peril like a fire or windstorm damages your property during a move, your policy would likely cover it.

When Renters Insurance Won't Cover a Move

Renters insurance doesn't cover incidents of broken or lost personal property during a move that's not due to a listed or named peril, but it also won't cover incidents of loss at the hands of professional movers. So, if you hire a moving company that destroys your kitchen table by accidentally dropping it or hitting a wall with it, your renters insurance policy won't reimburse you for this incident. However, the moving company should provide its own insurance and offer you reimbursement for damaged or destroyed personal property. 

When hiring movers, make sure to review your insurance options carefully. Note that these insurance options are related to moving insurance and are not options under your renters insurance policy. You can often choose between full-value replacement coverage or released value protection. 

Full-value coverage is more expensive but can replace any damaged or destroyed items with a similar item. Some types of valuable property are excluded by full value coverage, though, such as jewelry, artwork, and furs. Released value protection is a cheaper option, but only provides 60 cents per pound per item of coverage if there's an incident. Keep this in mind when weighing your options.

How to Cover Valuable Items During a Move

If you have valuable property you need to move, and it's excluded by your moving company's insurance, you may wish to move these items yourself physically. However, make sure you've listed or "scheduled" each specific item on your renters insurance policy for it to be covered if a named peril causes damage or destruction to it. Your independent insurance agent can help you add special endorsements, riders, or floaters to get your valuable items protected.

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How an Independent Insurance Agent Can Help

When you have personal property that needs protection, you need to ensure it's covered by the right renters insurance policy. An independent insurance agent can shop and compare policies for you from multiple renters insurance companies that offer coverage in your area. They'll get you quotes for the policies that only offer the best blends of coverage and cost. 

And down the road, they'll still be there to help file claims for you or update your coverage as necessary. They can also advise you on the best course of action to take if you need to cover your personal property during a move.