Moving? Make Sure Your Personal Property Is Insured


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NEW YORK, August 24, 2020 – Standard homeowners and renters insurance policies provide coverage for a policyholder’s personal property while their belongings are at their residence, in transit, or housed at a storage facility, according to the Insurance Information Institute (Triple-I).

At the same time, standard homeowners and renters insurance policies will not pay for damage done to a policyholder’s personal property (e.g., furniture, beds, and kitchen appliances) while the property is being handled by movers.

Before moving, the Triple-I advises homeowners and renters to ask themselves three questions: 

  • Do My Current Insurance Policies Cover the Move?
    Contact your insurance professional to make sure your current insurance policies offer the financial protection needed for your move and understand your other options. 
  • What Types of Additional Insurance Coverages Are Available for A Move?
    Trip transit insurance covers your personal property for perils including theft, disappearance or fire while the property is either in transit or storage. This type of insurance covers neither property breakage nor flood-caused damage. Special perils contents coverage will cover breakage for all but the most fragile items. A floater will fully protect valuables such as jewelry, collectibles, and fine art.  Moreover, if your personal property is going to be kept at a self-storage facility, you may want to explore purchasing separate storage coverage
  • What Coverages Are Available Through Moving Companies?
    Full value protection is a warranty plan under which your mover is liable for the replacement value of the personal property being moved. If any personal property is lost, destroyed or damaged while in the mover's custody, the mover under the terms of the warranty will either repair or replace the item, or make a cash settlement for the cost of the repairs at the personal property’s current market value. Released value protection provides minimal coverage if your mover either loses or damages your personal property but separate liability coverage may be offered by your mover to supplement released value protection. Movers should provide to the personal property’s owner written documentation of whatever coverage is purchased through them. 


VideoBefore Your Next Move, Review These Tips from The Triple-I

The Triple-I has a full library of educational videos on its YouTube Channel. Information about Triple-I mobile apps can be found here.

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