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7 Hidden Homeowners Insurance Coverages You Should Know Before You Move

By Kurt Thoennessen, CAPI

You just bought a new home and have many tasks to handle and Insuring your belongings during the move is high on the list.

What if the truck carrying your belongings to your new home or Condo crashes and all of your furniture is destroyed? What if someone walks off with an expensive work of art and disappears with it?

How can you protect yourself from these risks?

The coverage can come from an in-force homeowners, renters, condominium or cooperative policy that you have for your current residence. Each one of these policies provides coverage for the named insured’s personal belongings anywhere in the world, which includes while it is in transit on the road, in the air and at sea.

Even though the home, renters, condo and coop policies provide broad coverage for your belongings during the move, there are a few details that you should be aware of. 

  • First, check your coverage limit for personal property to make sure it is high enough to cover a total loss.
  • Next, review your deductible since it will apply to a claim.
  • Also make sure your policy provides “all risk” coverage for your personal property as opposed to “named perils” coverage. This will ensure that you have coverage for accidental damage such as dropping an antique desk.
  • Confirm that you have replacement cost coverage for your personal property, which will pay to replace damaged items without a reduction for depreciation.
  • Homeowners policies have “special limits” for certain types of valuable property that is lost or stolen. Limited Property types include jewelry, watches, silverware, money, collectibles stamps and coins, guns, furs, and a few other categories… you can review a complete list in your policy along with the coverage limits to be sure you have enough coverage for your valuable items.
  • Most policies will exclude coverage for fragile items like china, glassware and porcelains during a move, so it may make sense to seek special coverage for these items.
  • The last thing to consider is any property you use in a business.  Homeowners, renters, condo and coop policies do not provide much coverage for business property you own. A business policy that covers the related belongings is the better solution to cover these items.

I know this may seem like a lot to think about, but taking a little time before the movers arrive to figure this out can save you a lot of headaches and money should something unfortunate happen. As always, you should contact your trusted insurance advisor to learn how your policy will respond to a loss during a move.

I hope this information was helpful and the information made you better prepared for a possible catastrophe during a move.

If you do not have a trusted insurance advisor and would like to talk with me about your personal insurance, you can call me at 203-405-2645 or visit, InsureScope.com, to start a quote. I work with many high quality insurers including Chubb, Cincinnati, PURE Insurance, AIG Private Client Group, Travelers, Hanover Insurance, Central Insurance, and many others. Good luck with your move! 

About the Author

Kurt Thoennessen is Vice President of Ericson Insurance Advisors and a Certified Adviser of Personal Insurance (CAPI). Kurt works with high net worth individuals and family offices across the country to develop and implement personal risk management strategies and insurance programs. He is also the founder of InsureScope.com, a new insurance buying platform designed for owners of luxury homes and other assets. Kurt can be reached at (203) 405-2645 or kthoennessen@ericsoninsurance.com.