Does My Renters Insurance Cover Moving?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A renter’s policy covers your personal property in your current location and for about 30 days in a new location.  However, while the property is in transit between the two locations the coverage is only 10% of the amount listed in your declarations.  So if you have $35,000 of personal property coverage, the maximum you could receive in a loss in transit would be $3,500.
    Answered on June 12, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most renters’ policies cover your personal property at the residence indicated in the policy.  If you are moving, most companies provide an extension of coverage on your property at the new location for a relatively short period of time.  The property has limited coverage while in transit.  While in transit it is considered personal property off premises and recovery is limited to 10% of the coverage amount.
    Answered on August 5, 2014
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  3. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! You will want to look at your specific policy. Some companies will cover your stuff in transit, ( up to a limit, and it's usually fairly low ) and long enough for you to re-up at the new address. Some will not cover beyond your specified address.  Take a look at your policy, and give your agent a heads up so they can take care of you. Happy moving, and thanks for asking!
    Answered on August 5, 2014
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