Renter's Insurance Coverage Details - Moving

Renters insurance coverage provides protection for people who rent and not own their home. Renters insurance protection provides a benefit for any losses associated with theft, damage or other losses to a renter’s personal property. This includes furniture, antiques, collectables and other items of value. Renters insurance can also cover losses associated with damage or destruction during a move.

The Importance of Renters Insurance

Renters insurance is optional coverage that a person applies for, as there is no requirement to have renters insurance. Obviously, this is different for a homeowner who may be required to purchase homeowner’s insurance to protect against loss associated with a home covered by a mortgage. Renters insurance is a smart purchase to make for an individual concerned about the replacement cost of certain items that they own.

Renters insurance does not cover the dwelling since it is not owned by the renter.  It simply provides protection for loss associated with property damage. The cost of a renters insurance policy is considerably less than what it would be for a homeowner’s insurance policy.

Protecting Value of Loss Items Due to a Move

When moving, there are many factors that cannot be controlled by a renter. This includes how furniture and other valuable will be handled by the movers. This is particularly the case for those moves that take place across state borders or across the country. Additionally, a renter may not be completely assured that all items that they own will actually make it to their designated location.

Renters Insurance for Moving

Renters insurance that provides for moving damages or liability is an important benefit to include. Especially for a person who moves frequently because of their job or the type of work that they are engaged. This protection provides a benefit payable when damage occurs to certain items of value or they are either loss or damaged due to the negligence of the movers. This also extends to any items that are misplaced during the move or stolen.

Value of the Added Cost

The added cost of providing a benefit for moving damages may be worth it to a renter with concerns about recovering the replacement cost of damaged or loss valuables. Where it makes sense to have basic renter’s insurance protection for the items within the dwelling, it is doubly important to protect those items when they are transported between locations. The cost to the premium will more than pay for itself in the peace of mind acquired by knowing that a damaged items will be provided for.

A renter that is interested in providing additional protection for losses occurring during a move should inquire about this benefit.  Adding the benefit to the renters insurance policy makes sense and provides an additional level of needed protection for the renter.