Moving comes with a long list of to-dos, among those being the need to update your Home, Auto, and Umbrella Insurance policies. Before you move, it is best to understand how your coverage might change, steps needed to keep your policies current, and any rate changes you may experience.
For both Auto and Home Insurance policies, we recommend starting by contacting your independent insurance agent to learn how your specific coverage will be affected by your move.
Auto
For many Auto Insurance providers, coverage varies by state. If you are moving to a different state, your current provider may not offer coverage in the new state you are moving to, or the coverages may be different.
We highly suggest beginning by checking with your insurance agent to find out the necessary steps you need to take to ensure your vehicle is covered during and after your move.
A potential change to be aware of is an increase or decrease in your Auto Insurance rate. Depending on the accident and theft history of your new location, your rate may fluctuate.
Home
Homeowners Insurance can’t be transferred from one property to another, so you will need to cancel your current coverage. However, we recommend not doing so until the closing process on your current property is finalized.
If your policy is cancelled too early, any damage that your home incurs before it has officially sold will not be covered, and you will need to pay for the damages out of pocket.
Additionally, if you close on your new home before selling your old home, you will need to have two active insurance policies. Make sure to start your new policy with your insurance provider before you close on a property, so that your new home is insured immediately.
Moving can be complicated, but we hope the information in this article helped make things a bit easier. Insurance policies, coverages, and rates vary across different carriers and locations, so be sure to contact your insurance agent for the most accurate information regarding your policy.
This information is provided solely as an insurance risk management tool. It is provided with the understanding that the member insurance companies of the Utica National Insurance Group are not providing legal advice, or any other professional services or advice. Utica shall have no liability to any person or entity with respect to any loss or damages alleged to have been caused, directly or indirectly, by the use of this information. You are encouraged to consult an attorney or other professional for advice on these issues.
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