How Moving Can Impact Your Coverage

Are you prepping for a move? You might be wondering if you should make any changes to your home or auto insurance. 

While updating your paperwork might not be your top priority right now, doing so can keep you and your belongings protected during and after your move.

You can start by adding your new address to your policy. Here are some other key things to consider.

Home

Your homeowners insurance premiums will differ when you move, even if you’re staying in the same area. Changes in home size, construction materials, natural hazards and property crime rates all affect policy costs. Reach out about your premium ahead of your move so you can budget accordingly.

Possessions 

Consider whether you have enough coverage for all the furniture, electronics and other items you acquired since you purchased your policy. It’s easy to underestimate the value of your stuff.  

Also, replacement cost coverage is more valuable than actual cash value coverage and may be worth the upgrade if you don’t have it already. 

Are your belongings covered while moving? Consult your policy or get in touch to find out. You may be able to purchase coverage from your movers or add it to your policy if you need it. 

Auto

Your auto insurance premiums could also increase or decrease when you move. The risks of driving in your new location and parking at your new home may change because the weather, traffic and crime may be different. 

If you’re moving states, premium changes can be more pronounced. One reason is that minimum coverage laws vary by state. Changing location also means you’ll need to re-register your vehicle.

Finally, avoid changing or canceling your current policies too early so you don’t have gaps in your protection.

Do you have questions about your coverage while moving? Get in touch today.

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